How To Find Your Niche In Real Estate and Connect With Your Ideal Client

One thing we must get right in real estate marketing is identifying our ideal client. But that’s not enough.  We have to understand why these people are ideal and will they feel the same. Finding a niche is one of the best things you can do for your business.  

Let me explain.

In the early days of the web, we were expected to be on the mountaintop talking to everyone. No longer. With an online world more cluttered than a grandma’s attic, we need to figure out who we’re talking to from the start or risk wasting a lot of precious time and money. 

If you are trying to talk to everybody, you’re most likely talking to nobody. 

A broad message is impersonal.  Personalized messages bring a significant ROI and have a better chance of being noticed.

Take social media ads, for example.

They are everywhere and here to stay. We can’t control that.  But we can control the type of ads we see. Would you rather see ads that speak to your specific interests and needs or random ads that don’t pertain to you?  

I’ll bet you you chose specific targeting. That’s how you want your desired audience to feel when they come across your content.

I know that creating a niche sounds limiting.  Don’t be afraid to specialize; you won’t lose business. Instead, you’ll attract people who want what you offer.  You can specialize in one area or expand into other niches later on.

Meet Ben Caballero.

He is the founder and CEO of HomesUSA.com and holds the Guinness World Records title for the most annual home sales transactions through MLS by an individual sell side real estate agent.  You may have seen him in a recent Realtor.org feature.

Ben attributes his success to one primary factor.  Specialization.  

In his own words:

“Specialists dominate all professions from ditch digging to rocket science. I can’t overstate its importance to success in any profession. Real estate has many areas in which agents can specialize. I choose to be a corporate specialist.”

Whether you realize it or not, you are already attracting people who connect with your bio and online presence.  It’s the law of attraction.”

Let’s do an exercise.  Grab some paper and we’ll get started.

Write:

  • All of your past and present skills.
  • Why you got into the real estate business. 
  • What you enjoy most about selling real estate.  
  • The buyer/seller you work with most often?  
  • What is the average age?  Where are they located? 
  • The real estate you sell most.  

Look over your list. You’ll notice a theme. See what fills a need or if much of your business is associated with one or more items.  

Think about how your education, career history, and skills have helped in the past and how they’ll help your clients today.  If you are unsure of your skills and talents, check out the Clifton Strength assessments by www.Gallup.com

Do you have a corporate background?  Are you an investor? Own a vacation home or other specific property?  Work with a lot of divorcing couples? Have bank relationships or a finance background?  

If so, you are best suited to help these types of buyers and/or sellers.  I feel first hand experience adds a lot of value to someone who knows nothing about the process.  You can empathize with them and share your personal journey.

People want an expert not someone who holds many titles but masters none.  Specializing allows you to be the go-to person in a particular area of your field.  This is where the niche says loud and clear “You have found the right person”.

Potential niches:

  • Co-ops.
  • Condos.
  • Vacation homes.
  • Relocation clients.
  • New development.
  • First-time investors.
  • Divorce and estates. 
  • Waterfront properties.
  • First-time home buyers.
  • Corporate professionals.
  • Short sales and foreclosures.
  • Foreign investors or home buyers.

I want you to do one more thing.

Beginning today, erase “I can help anybody looking for X” or “I help buyers and sellers” from your sales pitch or “about me” page. Can you do that?  Good. 

Now that you have formed a niche, let’s fill in your blanks with a new brand positioning statement. It will consist of WHO your ideal audience is and HOW they will benefit from working with you.  Sounds easy, right? It is. But also requires considerable thought.  Take your time!  

Going forward, this statement will shape every single marketing decision you make.  

It is also the foundation of your elevator pitch and will help others talk about your business when referring you.  The clearer you are, the easier it is for them.

 

 

Below are some examples of a brand positioning statement.

  • I help first-time investors make calculated decisions and grow their money.
  • I help relocation clients find their place and adjust to life in Westchester County, NY.
  • I help improve communities by getting sellers the most amount of money for their home.

You’ve identified your niche.  Crafted your benefit positioning statement.  Now you’re ready to brand yourself and market to your niche.  I’ll show you how in my next post.  Stay tuned.

Until then, look at your competition.

  • Identify agents who focus on the same niche.
  • What do they do well and not so well?
  • What would you do differently to set yourself apart from the competition?

Know someone who needs clarity and guidance?  Share this post with them!

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