Have you ever heard the phrase “He’s a Jack of all trades and master of none?” It generally refers to a person who can do a little of everything, but doesn’t do anything well enough to be called an expert. To avoid that label, become a real estate specialist.
Real estate agents who try to serve every segment of the market are limiting their own success.
It’s true that in some small town markets you have to try to do it all because there simply isn’t enough business in any one niche. But if you practice real estate in a heavily populated area, you can gain more success by specializing than you can by being a “jack of all trades.”
Why? Because when you become a real estate specialist you are more valuable to your clients.
When you’re the person who KNOWS the rules and regulations surrounding the sale of unimproved land, or condos, or waterfront homes, the word will spread. When you’re the person who knows how to help first time buyers, or probate sellers, or investors, the word will get around. If you understand all the regulations involved in a VA Loan, veterans will tell veterans – and you’ll gain more clients.
In the same vein, when you become a specialist in a specific geographic area, you can become the person who knows everything about the area from the zoning regulations, to the price of garbage pickup, to where to get a good haircut. When you do it correctly, you also become a recognized member of the neighborhood.
Whatever niche or geographic area you choose, when you focus and learn all there is to learn about it, you’ll soon be the person those buyers and sellers seek out because they’ll know that you know how to help them.
Begin by thinking about which segment of the market you enjoy most. Then learn everything there is to know about it – whether it’s a neighborhood, a certain type of home, or a particular set of buyers. (No, your advertising can’t exclude any person, but your expertise will lead to referrals from others in that set.)
Let this year become your most successful year ever – become a real estate specialist!
Important: When you become a real estate specialist, you do NOT limit yourself.
Often new agents tell me they have to serve everyone because they don’t want to miss an opportunity. They’re afraid to market to just one niche, or even two niches. In truth, they’re limiting their opportunities by never becoming really good at anything.
In addition, agents who market exclusively to their niches do not exclusively serve those niches. Their happy clients refer them to others, so their actual practice of real estate is diverse.
Not sure how to market to a niche or geographic area?
Begin with the niche-specific prospecting letters on this page.
Who do you mail to? You can buy lists, you can use services such as Cole Realty Resources to create geographic area lists. And… you can also use your website to capture clients in your niche. Here’s how.