In Real Estate, whether you're an established professional or a millennial, having a niche to build both your credibility and celebrity separates you from the rest in a crowded industry.
In episode 15 of The Follow Me Show, we discuss how to establish yourself in real estate by finding your target market, and which platforms to brand yourself with a highly effective metrics.
What is a Real Estate Niche?
Everyone is attracted to different target markets, which is where the term farming comes from. Defining and prospecting to your target market. This is what we call, your real estate niche. Where one agent might want to court first-time home buyers, another may thrive in selling new construction homes. That means that there is plenty of people to work with, and sectors within the market to dominate in, You may be thinking "do I want to even limit myself like that? Should I work with any business I can get as a new agent? Absolutely not. This is where referral network comes into play on LinkedIn.
Why is having a Niche Important?
There is no great correlation between learning and wisdom. Francis Bacon
Defining your niche early on will allow you to know who to market to immediately. This will create Celebrity and Credibility. Celebrity and credibility make for a powerful combination to incorporate in your Niche Branding strategy. You can create your own omnipresence that brings attention to your brand, and ultimately, a celebrity status with a plethora of noise.
As a Realtor, your brand must be super unique so your prospective clients will remember you easily this way. The more you brand yourself online, the faster you will begin to rank when people Google you. When you're talking to new people, you're not giving them your business card, you're telling them “Google Me!” This is your new calling card.
The sooner you can decide who you want to spend the majority of your professional time wtih, the quicker you can start setting standards for yourself and eliminate wasted time showing homes in an area you wouldn't normally set foot it.
Where do I start?
In real estate, a niche, or target market, include factors such as:
> Geographic locations or zip codes
> Target price point
> Listing Categories:
i.e. Special sales, New construction, Luxury
To find your niche (your target market), ask yourself three key questions:
What are my standards?
What are my interests?
What kinds of people do I like being around?
These are loaded questions, I know. But knowing this will determine what type of content you will promote, and what client base you’re attracting as a result.
Implementing a branding campaign as a Realtor is that much easier when you have clearly defined what your real estate niche is. The four most influential platforms as a Realtor to start telling people what you know is LinkedIn, Zillow, Instagram, and Twitter.
For more information on the importance of a real estate niche, listen to the podcast below. Enjoy!