When You Aim For Nothing You Hit It With Amazing Accuracy

2

August 10, 2016 by Jeff Lowen

Have you ever heard the age-old adage, “If you are attempting to sell to everyone, you are selling to no one?”

Many real estate agents get licensed, jump in the biz and the last thing on their mind is finding a specific target to call their niche. Often, they find themselves years later in the business and still, they feel that by having “only” a specialty or niche this would mean excluding potential deals and they’d miss out.cartoonsalespeople

Nothing could be further from the truth.

Do you feel this way? Are you the type of agent that would take a buyer, a seller, a rental, a land deal, any geographic area, any demographic, every lead… How would you feel as a consumer knowing that your agent would take anybody? Makes ya feel all warm and fuzzy and special inside, doesn’t it?

If you’re lucky enough to already be specializing in a particular niche, then since you’ve mastered it, perhaps it’s time to expand your client base.

There are many articles I’ve read on the benefits of specializing. You can all it a niche. I think where most agents get derailed here is that there are so many choices of specialization, it’s just hard to decide. The list of niches is plenty. If you don’t have one, consider these 100 I’ve detailed here for you. Pick three, while you’re at it!

  • Niches based on particular historical time period or architectural style:

1. Victorians

2. Colonials

3. Bungalows

4. Brownstones

5. Mid-century modern

6. Arts and Crafts

7. Cape Cod

  • Niches based on a construction technique:

8. Log homes

9. Post and beam

10. Manufactured housing

  • General niches:

11. High-rises

12. Condos

13. Townhomes, townhouses

14. Lofts

15. Luxury homes

16. New construction

  • Niches oriented towards recreational activities:

17. Lake homes

18. Ski homes

19. Golf course homes

20. Equine properties

21. Pilots/private landing strips

22. Ocean-front property

23. Inns and guest houses

24. Hobby farms

  • Location-based niches:

25. (Name of) county

26. (Name of) city

27. (Name of) suburb

28. Neighborhood name(s)

  • Specific location niches:

29. A particular subdivision

30. A gated community

31. An area that feeds into a particular school district

32. An urban financial district (or transportation center, shopping district, etc.)

33. The downtown area of a major suburb

34. An active adult community

35. The area surrounding a university

  • Niches based on types of buyers and sellers

36. First-time buyers

37. Move-up buyers

38. Second-home buyers

39. Investors

40. Distressed properties

41. Fixer-uppers

42. Sellers attempting to go it alone (FSBO)

  • Unique housing interest demographic niches:

43. Young and single women/men

44. Young couples

45. Growing families

46. Single moms/dads

47. Empty nesters

48. Retirees

49. Widows/widowers

50. Elders who are aging in place

51. Adult children caring for aging parents

52. Families wanting multi-generational living arrangements

53. Downsizing

54. Eco-friendly homes

55. Urban farming

56. Walkable communities

57. Working from home

  • International and global niches:

58. Foreign investors in U.S. properties

59. Overseas buyers of second homes

60. Relocating workers on temporary visas

61. Housing for international students

62. Members of local immigrant communities

63. Buyers of second homes in other countries

64. People who want to retire abroad

  • Knowledge, skills, and designation niches:

 

65. Representing buyers (ABR®)

66. Seniors’ home buying and selling needs (SRES®)

67. Global/international real estate transactions (CIPS®)

68. Sustainable and eco-friendly housing (GREEN)

69. Resorts and second homes (RSPS)

70. Distressed property specialist (SFR)

71. Negotiation expert (CNE)

  • Specialized assistance niches:

72. Re-entry from foreclosure/bankruptcy

73. Home buyer assistance programs

74. Assisting military families

75. Veterans’ programs

76. Relocation services

77. Ability to speak another language

  • Shared interest niches:

78. Love to cook

79. Home decorating

80. Gardening

81. Owners/lovers of dogs, cats or other pets

82. Pet rescue

83. Do-it-yourselfers

84. Sports (that you play)

85. College/professional teams (that you support)

86. Involvement in community sports (coaching a youth team)

87. Charitable organizations/volunteering

88. Travel

89. Music

  • Commercial niches:

90. Office buildings

91. Retail facilities

92. Multifamily housing

93. Empty lots/custom homes

94. New home developments

95. Farms/ranches

96. Manufacturing facilities

  • Other niches:

97. Rentals

98. Property management

99. Staging

100. Moving services

Did you pick three of them? Do you still feel if you don’t pick all of them, you’ll be missing out on business? Okay, I’ll play along. Let’s look at the disadvantages of focusing on a niche. If you intend to grow beyond the mind-blowing capacity of a single agent or small team, then world domination is your path and one particular niche or specialization may not feed your coffers. However, if you’re not there now, choosing and mastering one niche will open the door to others and soon, you’ll be well on your way to multiple niche markets and that world domination thing.

Still, we’re back to choosing a target. Call it a niche market, a specialization, it’s a target to aim for. Remember Mel Gibson in the Patriot? He told his son, “Aim small, miss small.” Which conversely can be interpreted as, aim big, miss big, right? A niche will help give you that target. NOW, you have something to aim for and your efforts can be focused to maximize the opportunities that lie before you.

Also, now that you have a niche or specialty you will focus on, you can enjoy things like:

  • Less competition
  • Brand loyalty
  • You can position yourself as that market or segments’ expert
  • Marketing dollars more efficiently spent

To help narrow your focus in identifying your ideal client or customer, I’m including, “Creating Your Client Avatar.” A document that will help you to determine what your ideal client looks like.  CreatingYourClientAvatar

Why is this important? Of course, if you don’t define your ideal client, you’ll take anyone, won’t you? Even the ones that drain your emotional tank so you never want to do real estate again, huh? The beauty of specializing is that you can focus your efforts on a set of specific criteria that will help you be more efficient in the mechanics of your business and you’ll be able to bring your A-game and have plenty juice left in the tank. Your clients deserve that, don’t they?

It isn’t necessary that you identify a niche first, then identify your ideal customer, or vice-versa. Both will get you focused toward creating a specific target to shoot for. Both done together, you’ll be well on your way to more focused efforts, more opportunities to showcase your talents and gifts and will bring a renewed vigor to your daily routine. And, who doesn’t love all that?

So, don’t be one of those agents that will take anything. Give yourself some credit. You’re not a “jack-of-all-trades-master-of-none” type of person, are you? Of course not. You have unique interests and gifts and defining them in your business will only allow them to shine.

After reading this, if you’re still a little suspect in choosing a niche market and ideal client thinking you’ll be missing out; let me leave you with a question… ‘If you were to get some minor surgery done that could be serious if not handled correctly; would you be ok hiring a doctor that is a general practitioner, or would you want a doctor that specializes in your particular issue?’

What do you think your clients want?

Advertisements

2 thoughts on “When You Aim For Nothing You Hit It With Amazing Accuracy

  1. […] We can’t afford to wait. You can’t, either. Consider the cost of these things. Is it really worth it? Of course, if you’re unclear about your direction, then these activities are more likely to creep into your life and before you know it, you’ll be so busy and won’t be getting anything done. If you need some help in that arena, read my post, When You Aim For Nothing You Hit It With Amazing Accuracy. […]

  2. […] First of all, have you decided who your client is? Where is your target? Have you decided on a niche? If the answer to this is anything but a resounding, “yes!” then read this. […]

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Subscribe Today!

Not a Subscriber Yet? Click Now!

Picture of Jeff

Reach Out To Us!

Call or Text: 703-665-9739

Back Issues

%d bloggers like this: