Friday, June 28, 2013

4 Steps to Develop Your Niche



"Know thyself" - Ancient Delphic maxim

When you develop your niche, be it working with a certain neighborhood or property type, prospects respond to your expertise and enthusiasm. Prospects are less attracted to agents not working in their strengths and sense their apprehension. Ask yourself these four questions to discover your niche and prospect type:

What market do you know best? Just as there's no single housing market in the country, there are multiple markets within each city. Where are the bulk of your sales located? If you don't know off the top of your head, investigate your sales history. Next, ask why? Do you live there, or do you have your finger on the pulse for another reason? Knowing that reason is your head start.

Who do you care about most? Do you sympathize with first-time home buyers or do you know how to represent move-up buyers better than anyone? Here's where your previous job experience, education and specialized knowledge can come into play. This will help you develop an understanding of your "favorite" buyer or seller profile–the types who come to you over and over again.

What's your property passion? Are you the Condo Queen or the Golf-Course Guru? Perhaps you're interested in land, historic homes, horse property or new construction. Your property preferences should translate well to your prospects and customers, building their confidence and trust in your expertise.

How about hobbies? Classic cars or motorcycles, fitness and outdoor sports, dogs or horses? Clients want to work with people who like the same things. Common ground is a great way to build rapport and put stressed out sellers or shoppers at ease.

It doesn't matter what your list looks like, it's totally unique, and that's going to attract your group of clients. Light up those differences like a beacon in your marketing. Let people know what you care about most and your breakthrough niche is just around the corner!