Looking for a way to brand yourself as more than just a traditional real estate sales agent? Niche marketing is the perfect way to become a big fish in a small pond. Real estate professionals who have a niche show potential clients that they’ve taken the extra time to learn more about a specific area of the real estate market. What area of expertise you choose depends on the clientele you want to attract, your skills, strengths and interests, and it will determine how you differentiate yourself from the rest of the pack.
Here’s the inside scoop on four real estate niches that might interest you.
First-Time Home Buyers
This niche is comprised of newbies to the entire home-owning and buying process. They come to you with anxieties about financing, inspections and a number of questions just shy of driving any non-real estate person crazy. They’re looking for a real estate professional to guide them through this daunting process, and that person could be you. The joy and excitement that comes hand-in-hand with helping buyers find their very first home is unmatchable. Don’t let the size of this market scare you. If you can perfect it, these clients are sure to be a huge source of future repeat business and referrals.
Baby Boomers and Seniors
As an older niche market, these clients have different income considerations and sometimes special housing requirements. If you’re considering this niche, a helpful hint is to look into the SRES® Designation (Seniors Real Estate Specialist) to position yourself as a specially trained professional dedicated to the needs of this age group. This designation lets your senior clients know that you are able to meet the different physical and financial challenges faced by one of the largest home-owning demographics. With this certification, you’re able to help your senior clients through some of the toughest transitions involved in relocating, refinancing, downsizing or selling the family home. You’ll be able to earn their respect and trust while providing them with the tools they need for a smooth move.
The luxury home niche can be quite inviting with high home prices usually generating high commissions to the real estate professionals who sell them. Although they result in a higher per-transaction commission, luxury homes require special marketing venues that generally need a larger investment on the part of the listing brokerage. If this niche catches your eye and plays at some of your strengths, focus your energy here. It can be very rewarding.
Single Home Buyers
With almost 90 million unmarried, single Americans, this niche should not be ignored. 55 Million households are headed by unmarried individuals. Women make up about 54% of this group according to the Census Bureau. Real estate professionals that can embrace the differing needs of these clients will be sure to find a wealth of opportunity.
For more information on niche marketing for real estate professionals, enroll in our course, “Niche Marketing: Narrow your Focus,” today.