Did you know that creating a niche market for your business can bring you new leads and a 20% jump to your overall sales? Believe me, it can, so read on as to how you to start discovering where the need is and how to cash in on it.
Most buyers and sellers will have different set of problems to be solved or specific needs that must be dealt with in order to help them when buying or selling a home. Most people who have bought and sold a home have had some sort of painful experience from time to time.
That means you will want to base your selection of a niche marketing campaign on a problem or problems that buyers and sellers need solutions too. If you look for common problems that happen frequently your base of people that need help will be much larger.
For instance think about what the pain points that a buyer /seller experienced while working with you. What caused that problem to happen in the first place and now that you have the more skill and knowledge, how could it be solved the next time it occurs?
Was the problem caused by you and what could you do differently in the future? Or was it caused by someone else from lack of knowledge or recourse’s on their part. Most of the time the bad experiences a buyer or seller has is from an agents lack of skill or knowledge about a particular situation or need of the client.
This thought process is how you can begin to develop a powerful and sought after niche market. Another way to think about a niche is simply how you will specialize in a particular area of real estate sales and build your skill around that.
Here is a quick list of some niche markets for your brain to get started thinking about and head you in the right direction.
Grab a hunk of paper and a pencil to write down what problems or issues could be associated with each of the suggestions below and then how you would develop a market around the need.
-Seniors- Boomers Property sales which would include liquidating estates for spouses or children of deceased relatives.
-Divorced Women and Men, Singles
-Mid-century or older homes
-Auction property sales
-Estate attorneys working with liquidating property
-Military and Veterans
-Land and Farms
To give you a leg up we will expand for you on #1 the Seniors niche and how you could build a business from it.
Your first action step would be for you to feel like you would resonate with the idea of working with older folks. If you are very young, an older person may not be able to feel that you have the experience or moxy to be able to relate to their age group. It is very important for your new client to believe you can understand their plight and the journey they are about to embark on. You MUST be able to relate and have empathy for what the client might be going through. You need to have so great people skills to handle awkward and stressful situations when they arise. ( This will apply to every niche you choose)
If there is a death associated with this move, it can be very trying for the spouse who is left to clean up the mess of selling and liquidating a property containing a lifetime of stuff. Remember you are also building long term relationships with these people to gain their trust and loyalty.
Second step will be for you to have working relationships with the right out-sources including reliable estates sales vendors or auction companies, antique dealers, organizers, stagers, handymen, cleaning people, financial planners, appraisers and attorneys. These people will prove invaluable to you when you meet with the client for the first time you can assure them that you have a slew of professionals behind you to help them move forward to sell their property and liquidate their personal belongings.
This in and of itself is actually the biggest hurdle you will face working with Seniors or estate liquidations. When an older person has to leave a home they inhabited with a partner for 30 or 40 years plus, it is extremely overwhelming for them. They feel lost and out of their comfort zone. If they have to move into assisted living, for instance, they feel guilty for leaving their precious belongings behind. Their possessions may have come from saving for years to obtain and now they are just thrown away and no longer useful to anyone.
ORGANIZING EVERY DETAIL
The Senior is going to look to you for advice on every aspect of this move or transition which is really a better word in this case. If they buying a new home they will need your guidance to assure them they are making a good choice. You will need to develop a timeline for everything to be done in order to get the property sold and personal belongings dealt with. You will be the go to person they will call to get the right people in to help expedite the move.
MARKETING TO SENIORS:
With any niche you choose you will need to market or advertise to those particular groups that you want to engage with. That can be done by postcard marketing, email or Facebook. You can easily purchase target demographic lists based on age, income, location, etc. to start or target neighborhoods or groups of individuals. Many times clubs and organizations will afford opportunities for engagement with specific groups.
This is just a tidbit of what you must study and learn about this particular niche. It might be a great idea to get a designation from NAR if they offer one particular to want you want to specialize in so check that out.
For more information visit cyndasellscoaching.com.