Niche marketing for real estate agents
Due to the challenges of today’s difficult real estate market, more and more real estate agents are leaving the business. This exodus is creating an unprecedented opportunity for marketing-savvy real estate agents to step up and grab massive amounts of market share! The easiest way to focus your marketing efforts is to select a niche and focus on that group. Here are some niches you can consider:
A Farm – This is the easiest niche for most agents to understand. A farm can be a subdivision, an area like waterfront homes on a given street, or even a county if it’s small. Some great ways to start becoming an expert in an area are to visit all the homes currently listed for sale in the neighborhood, visit all the FSBOs that currently have their homes available, and hold open houses for agents that have current listings. Let the FSBOs know when you are going to have your open house so that you can coordinate with them to have theirs open as well. Send postcards to homeowners and also start a neighborhood newsletter that provides sales information and relevant neighborhood information.
First Time Home Buyers – These are people who need the experience and connections that a real estate agent can provide. To reach these buyers you can send postcards or walk around apartment complexes, renters make great first time home buyers! Offer to provide “lunch and apprenticeships” to large-area employers who have a younger workforce that needs to find housing solutions. You can partner with government affordable housing agencies in your area, finding out the requirements for buyers to qualify. Offer to send them “hot” listings that are in good standing and meet their programs’ price requirements. Be sure to preview and keep open all the houses in these price ranges you can get your hands on so you know which ones will be worth taking your clients to!
Luxury home buyers and sellers: This one may feel like a farm, but it’s a little different. Targeting high-end buyers and sellers will result in higher commissions AND higher expenses. Make sure your marketing materials are professionally designed to appeal to people in a top-tier demographic. Target international buyers by showcasing luxury properties on your website and blog (if you don’t have your own listings, “borrow” some of the other agents in their office after asking permission). Be sure to include information on marinas, yacht clubs, tennis clubs, country clubs, and golf courses on your website. If there are high-end retail areas in your market, please list those stores and also any five-star restaurants that may be nearby. Join your local country club and support regional arts councils.
Baby Boomers – If you live in a warm climate, this group is for you! Discover all the 55+ and retirement communities in your area and list them on your website or blog. Familiarize yourself with the restrictions of different communities (some allow pets, some don’t, some allow one person to be under 55, some require everyone to be over 62). Advertise in senior magazines in your area, focusing on your experience as a benefit in finding the perfect retirement home. Have a pool of vendors you can refer if they need property management services while traveling north for the summer or visiting family for extended periods.
Those are just four of the thousands of different niches you can choose from! Whether you like to sail or golf, like to work with buyers or sellers, like kids or dogs, there is a niche for someone just like you. Pick something today and focus on it with all your energy and you will be able to capture more of the market than you ever thought possible!