Select A Niche Or Two...Target Marketing Will Make Your Phone Ring

By
Managing Real Estate Broker with RE/MAX Executive Realty
http://actvra.in/CLL

Agents need to work in sectors of the business that produce income.  One of the advantages of working as a real estate agent is that we can continually change our niche.  If you don’t have a niche, it would be very wise to determine what phase of the business is selling in your area and make that your niche.

We can have more than one niche; we can continually change our niche as the market changes; and we can continue to work other parts of the business in unison.  We can have our cake and eat it too.

Yet, there are many agents who do not have a niche.  The only factor that’s required to make a phase of real estate a niche is knowledge of that product.  If short sales are your niche, make sure you are well versed in short sales, as an example. 

Target marketing of a niche is a very successful way to make your phone ring.  It is easily accomplished with direct mail marketing, online marketing and integrating of the two.  The real estate market is coming back to life, and if you want to be a part of that initial energy focus on a specific niche or two in your area.  You’ll be thankful you did when the market changes again, and you are able to change with it because you understand the concept of having a niche.

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Winston Heverly 11/17/2012 09:01 PM
Topic:
Real Estate Sales and Marketing
Location:
Massachusetts Norfolk County Franklin Top Listing Real Estate Office Re/max Executive Realty
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Tags:
selecting a niche in franklin ma

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Show All Comments
Rainmaker
2,018,145
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

You're welcome, Bob....

Jun 21, 2012 09:54 AM #33
Ambassador
1,229,257
Tammie White
Benchmark Realty, LLC (615) 495-0752 or www.TWRealtyGroup.net - Franklin, TN
Franklin TN, South of Nashville

Barbara, I would say my niche is working with buyers and sellers aged 50+. That shouldn't be surprising because that's my age bracket. However, I do work with younger clients as well. Primarily, because I know the Franklin TN area very well. Once a prospective client meets with me, they like to tap into that knowledge. Is my marketing geared towards the older age group...probably not. Not sure how to tackle that one.

Jun 21, 2012 10:10 AM #34
Rainmaker
1,262,947
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

I have 3 primary Niches and only one is working well right now; but the other two are showing life.  It takes a while to build it.  I have a few more I am working on.

Jun 21, 2012 10:15 AM #35
Rainmaker
2,018,145
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

Tammie....your marketing to the 55+ age group would make your business skyrocket.... target marketing with direct mail marketing...buy the database of names and addresses for those of age 55 to 80 and owning a home.... you need to be well versed on the active adult communities in franklin tn.... you'll automatically get their listings.... accudata.... google it and call them....there's a number on their home page....

Gene.... I always made my niche the most active area of real estate in my area at that time.... as the market changes, my niche would change....my core niche has always been new construction for decades.... all of your niche areas should work well or you selected the wrong niche for this market or for your area???

Jun 21, 2012 10:24 AM #36
Rainmaker
204,538
Woody Edwards
First Choice Realty, Inc - Chesterfield, VA
A Realtor® Who Answers His Phone!

Barbara, you are so right!  Everybody needs a niche.  However, I wish more brokers would evaluate their agents' niches to determine if they really know what they are doing, especially with the short sale industry.

Jun 21, 2012 10:58 AM #37
Rainmaker
276,131
Travis "the SOLD man" Parker; Associate Broker
Team Linda Simmons, Enterprise, AL 36330 - Enterprise, AL
email: Travis@theSOLDman.me / cell: 334-494-7846

Doing Military & First Time Buyers. But so is almost everyone else around here. Gonna hafta rethink it!

Jun 21, 2012 11:13 AM #38
Rainmaker
65,644
Brenda & Ron Cunningham
West USA Realty - Phoenix, AZ
Realtors, Homes for Sale - Phoenix Metro

Great reminder.  It is hard to rein oneself in sometimes, but definitely well worth doing it!

Jun 21, 2012 11:18 AM #39
Rainer
8,726
Sonia Riahi
TourZap - Orléans, ON

Selecting and targeting a niche market is one of the fundamentals of marketing - for any industry! Real estate agents can do much much better by having a niche market and advertising it through their marketing and their USP! Great blog post!

Jun 21, 2012 11:21 AM #40
Rainmaker
2,018,145
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

Woody....most brokerages have a swinging door policy and I don't think they pay close attention to each agent....everyone needs a mentor and that mentor would be the ideal person to evaluate the agent...

Travis.... market those niche areas..... I highly doubt if others are marketing to first time home buyers with direct mail...

 

Jun 21, 2012 11:31 AM #41
Rainmaker
2,018,145
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

Brenda and Ron...it's a necessity today....

Sonia....yes, it is a fundamental concept, yet broker/owners/managers don't discuss this their agents.... broker/owners would make more money if their agents did also!!!

Jun 21, 2012 11:32 AM #42
Rainmaker
170,082
M.C. Dwyer
Century 21 Showcase REALTORs - Felton, CA
Santa Cruz Mountains Property Specialist

Hi Barbara....I love reading your blog because you are so giving!   Another great idea, supports my recent decision to focus my advertising dollars targeting one of my favorite towns here - Felton!

Jun 21, 2012 01:00 PM #43
Rainmaker
2,018,145
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

MC..... sounds like a good plan.... I love target marketing....

Jun 21, 2012 01:06 PM #44
Rainmaker
821,857
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
your real estate writer

I so agree with you. In fact, I nag about it regularly in my marketing newsletter.

Not only does having a niche give you a focus for marketing, it gives you time to learn all you need to know to really be the best in that niche.

Sadly, many agents are afraid that creating a niche will make them miss out on some customer/client who doesn't "fit." I could talk to them until I turned purple and wouldn't convince them.

Jun 21, 2012 08:54 PM #45
Rainer
283,345
Kimo Jarrett
WikiWiki Realty - Huntington Beach, CA
Kimo's Lifestyle Solutions

Great post.

Jun 21, 2012 10:58 PM #46
Rainmaker
636,209
Stephanie/Bob The Ruiz/Miller Team
Keller Williams Cornerstone Realty - Ocala, FL
The Ocala Dream Team

Hi Barbara, I would love any suggestion for a niche for more sellers.  As our market turns around the number of expireds is drying up and that has been my niche for the last 3-4 years.

Jun 22, 2012 01:10 PM #47
Rainmaker
2,018,145
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

Bob.... I'd select an area of luxury homes or select a size of a home for first time home buyers.... or select all 4 bedroom homes for the growing family.... select these listings from an area with good turn over....if luxury homes are selling, market to luxury homeowners, as an example....

Jun 22, 2012 01:18 PM #48
Rainmaker
2,018,145
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

Marte.... that's a standard thought....they don't understand....

Kimo....thanks....

Jun 22, 2012 01:19 PM #49
Rainer
57,445
Wayne Jackson
Lakeshore Realty 208-714-4109 - Hayden, ID
North Idaho Realtor, Serving Coeur dnullAlene and Hayden Lake

Good post Barbara. I have seen this before but it's good to have a reminder.

Jun 23, 2012 06:33 PM #50
Rainmaker
2,018,145
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

Wayne.... it's always good to be aware and put this into motion...

Jun 24, 2012 04:45 AM #51
Rainer
45,006
Jairo Arreola
Aladdin Realty - San Jose, CA
VA Home Loan Specialist - SF Bay Area - South Bay - San Jose

Great Post Barbara! I have developed my niche with Veterans. It has worked out great and I enjoy helping them out =)

Jun 25, 2012 09:49 PM #52
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Rainmaker
2,018,145

Barbara Todaro

"New Franklin MA Homes"
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