Do You Have a Niche?

A niche is choosing a specific group of people you specialize in. It’s a group of buyers or sellers you know more about than any other group of buyers or sellers. Having a niche can be a tremendous way of building your name recognition, and your client base. But what niche should you choose?

Many people choose a niche based on a personal experience, affiliation or leisure activity. There are hundreds of niches to choose from. Reckon of any need a buyer or seller may have. Then question yourself if the real estate industry is fulfilling it. If not, you may have just found your niche.

To help you find your niche, we’ve made a list of possible areas you could become an expert in:

1. Senior Housing: This is an oldie but still a goodie. (Ok, so we couldn’t resist the pun!) As more and more people become seniors, senior housing is predicted to continue to grow steadily over the years. You will want to be familiar with maintenance free living, first floor master homes, and of course be knowledgeable on reverse equity loans.

2. First time home buyers:I always liked working with first time home buyers the best. They have excitement in their eyes and are generally very fun to be with. You can find them through local colleges, engagement announcements, marriage announcements, and many other avenues. Consider networking with a wedding planner or at least advertising in one’s office. Many agents find they like working with first home buying clients the best.

3. Horse-Lovers: This can be a huge niche if you are familiar with raising and boarding horses. As more farms turn into sub-divisions, people with horses need someone they can trust to find these unique properties.

4. Luxury Homes: This is probably one of the most well loved and sought after niches. You will need experience and professionalism to excel in this niche. If your legs turn into pudding anytime you walk through a $4 million dollar home, this may not be the niche for you. 

5. Foreclosures and Pre-foreclosures: With the uncertain economy this is one we can expect unfortunately to grow. Take a few investor courses, network with banks, and learn the ins and outs of the foreclosure procedures in your area. If this is something you are seriously considering, you may also find the e-book Bank REO’s, Foreclosures, Small sales, and BPO’s: to be of fantastic value.

This is just a small example of the many niches available. Others include commercial real estate, condos, special needs families, professional athletes, medical staff, transferees, veterans, and hundreds more. Reckon of your last few clients. Could any of them benefited from using an agent with a niche?