Where are your next leads coming from? Most agents try to service whatever business comes their way. Working this way will make you busy but not necessarily successful.
By building a niche, you limit your business to what you love to do, what you know or do best. When you work in a niche, you'll enjoy your business more, have more time, and attract business with less effort.
The first thing to do is to define your niche market. Answer these questions to get started:
1. What segment of your market do you know well?
2. What skills, strengths, or past experience will enable you to be the expert?
3. What segment of the market knows you best?
4. Are you having success in a development or condo? Vacation homes? Investment property? Seniors? First-time homebuyers? You may want to capitalize on past success.
5. Do you know a type of home, like historical, or new home construction better than anyone else?
Sometimes a niche finds you. If a certain type of buyer or property keeps showing up in your closed files, pay attention. This means that you naturally do well in that area and could probably expand your business.
Make the most of your niche. Form alliances with businesses that cater to the same customers as you do. Offer to plug their business in exchange for referrals.
Remember that you have unique strengths and interests. Use them to your advantage. Work in the areas that make you happy. Your clients will take notice. People enjoy working with happy, genuinely enthusiastic people.
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