November 29, 2023
Niche: (adj) denoting services that appeal to a small, specialized section of the population.
Some of the most successful realtors we’ve met have a niche or specialty that they focus most of their energy and generate most of their business from. As a subject-matter expert in an area, you are best positioned to help clients seeking the knowledge you have, actually helping you generate more leads and setting you apart from the competition.
Let’s walk through a few ways to identify and amplify your niche:
1. Identify your core values
It’s hugely important to identify and hone in on your core values, which in turn will bring you closer to identifying your ideal client and niche. What do you care most about in your personal and professional life? Humor, honesty, joy, health, community, luxury, teamwork, sincerity are all examples of core values.
2. Consider your experience and passions in real estate
Jot down a few things you love about real estate. Maybe it’s fixer-uppers, historic homes, or interior design. Ask yourself “What do I know really well?” “What part of this job excites me the most?” and “Do I have any prior experience or certifications that would set me apart?”
3. How about your hobbies and lifestyle?
What do you love to do in your free time? Are you a pet owner, fishing fanatic, environmentalist, trail runner, or bookworm? Your hobbies and lifestyle may be good indicators of a potential niche.
4. Property Types in your Area
What’s going on in your area? Is it chock full of new construction? Is there a surplus of certain types of homes or property types? Some examples include distressed properties, new construction, waterfront, multi-family, condos, age-restricted, dog-friendly, historic, farm/ranch, townhomes.
5. Target Demographic
Is there an influx of out-of-town-ers migrating to your city? A large group of baby boomers or millennials? Some examples include vacation or second home buyers, military, newlyweds, first-time homebuyers, families, and 55+.
No matter how many brokers or agents are already working in your area, there is always some group of the population that’s being underserved. If you can corner a particular market by identifying your niche and filling a void, you will be positioned to be the go-to expert in your area.
Get a preview of our step-by-step Branding Course below that covers establishing a niche your market.
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