Real Estate Niche Marketing -
How To Eliminate Your Competition Without Bloodshed
Real estate niche marketing is the process of finding and serving small, profitable real estate market segments, then designing a customized marketing plan for servicing each of these market segments.
Niche marketing caters to a distinct and select group of people who need what you have to offer.
Marketing to a niche in your community is an excellent strategy for those who are looking to expand their businesses, or even for new agents that are just starting out.
You can locate niches in real estate everywhere and it's up to you to ensure you use the most appropriate marketing strategy for that niche.
For example, selling condos in a particular area of your city may be an ideal niche to access. Or, you could decide to focus only on one, two or three high-rise condo buildings on a particular street.
Niche Marketing Tactics - How To Target A Market Segment
One agent focused her niche marketing to two high-rise condo developments with approximately 700 units in the buildings. Within her first month of marketing to those two buildings, she had been contacted by over 8% of the condo owners. Here is the same niche marketing plan that she is still using.
Still using the condo niche example, do a little research and find out what the condo owners want and need.
Study the demographics of the buildings.
How old are the buildings?
Are the resident owners young first time buyers?
Was this purchase a first step into the market and are they planning to move to a freehold home?
What do they need to help them take the next steps in their real estate planning?
By catering to the real estate needs of the condo owners, you can quickly position yourself as their real estate expert.
Marketing to a niche is the quickest way to get maximum exposure. Marketing to a tight niche is usually profitable because they have probably been overlooked by your main competitors.
You can create a website that is specific to these condo owners.
If you know how to leverage your real estate websites with the search engines, you will draw attention to your niche web site. Marketing niches most often includes maximizing the way search engines work to make sure that your real estate web site gets listed on the first page of the search engines' search results for your chosen keywords. Yes, you may get less traffic to your niche website, but the traffic will be very targeted and responsive.
Your niche marketing could be around the fact you are an expert in REO properties or Short sales. Knowing where these properties are concentrated, put a strategic plan together to focus your efforts in that area. If you need to learn a bit more about selling short sales, do that before spending money to advertise in that market.
Marketing to a niche is all about making the most money with the least effort in an under serviced area. No matter what area of the market you are involved in, the skill of developing fine tuned strategies within your team or organization is key.
Real estate marketing has moved away from macro-marketing and into the age of micro-marketing. Have you made the move?
How to effectively use niche marketing to get listings.
How to effectively find buyers using a similar process.
Don't sell your real estate services. Instead, offer a solution.
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