Niche marketing is a potent strategy that works well in the world of real estate. There are numerous highly successful brokers and real estate agents that have pointed their niche in real estate marketing focusing on a specific type of property, geographical area, and category of consumer. Real estate agents who distinguish the opportunities that are out there and deciding on a niche that fits them can become a beneficial strategy.
Resort and Vacation Homes
For agents located in areas that are heavily populated by visitors looking for vacation homes and foreign vacationers, this can become a very prosperous niche market. A good internet marketing strategy that provides helpful information and reaches out to incoming prospects can provide a real estate agent a flow of clients and be viewed as an expert in the area.
Former Foreclosed Homeowners
In 2010 the foreclosure rate peaked and many lenders required a minimum of 3 years short sale before they could issue a new mortgage to clients. For homeowners who were affected by the foreclosure, they now have the ability to qualify for a mortgage and will be flooding the house market. Real estate agents who wish to jump into this marketing niche should well aware of short sale seasoning requirements and listings that are now selling lower than what they were worth before the foreclosure peak.
FSBO’s (For Sale By Owner Properties)
Sellers like this will eventually find themselves swamp with tasks that can stun their ability to successfully market their home. Whether it’s through networking, handing out business cards or brochures. Eventually they will turn to a real estate agent to help them list the property. Structuring a marketing plan to help these clients can help real estate agents gain business.
Renters/Homeowner For Life Clients
Real estate agents can do well in this marketing niche as these stay-put-homeowners and renters-for-life prospects are financially set and are concerned about constantly concerned about economic stability in home values and neighborhood prosperity. These clients will be driven to ask real estate agents concerning these topics and will be expecting quality data and reports as answers.
Any real estate agent who wishes to jump into this can gain high commissions per transaction, but it requires special marketing strategies and a larger investment on listing brokerage. The net profit after marketing can average out to be equal to lower priced homes.
Real estate agents should be knowledgeable in urban farming and permaculture values as they are key factors in becoming successful in this marketing niche. The possible clients in this niche are people who use the space they have to build around the lifestyle urban farming.
Aiding First-Time Buyers
These clients are completely new to the entire real estate buying process and are unknowledgeable when it comes to the transaction, inspection, and even financing of the property in mind. Agents should plan helpful marketing and transaction materials for these prospects to better help them understand the process. Clients like this can become a huge impact for returning business and referrals.
Singles Buying Homes
According to the Census Bureau, there are almost 90 million Americans who are unmarried and single who are part of a household. An average of 55 million of these contain an unmarried individually who is head of the household. Real estate agents can gain success in this niche as each individual has differing needs when it comes to being a homeowner.