REALTOR® University

Wednesday, July 25, 2007

Niche Marketing

If you look at the marketing that most agents are doing you will find that they try to be everything to everybody. I'll list your house, sell your house, help you buy a house, work with you as an investor and on and on. We are tempted to try and capture the entire market.

But think about it, can you truly be an expert on everything? You would be better off if you figure out who you want to work with and focus the majority of your marketing efforts on those people.

But who are they? You need to figure out your focus area. Start by making a list of all the different groups you belong to or connections you have to people. Do you want to work with sellers or buyers? Military relocations or a certain school district could be your focus. If you are going to concentrate your efforts on a specific subdivision now you need to know everything about it. What are the homes like, who were the builders, price ranges and sizes, market statistics, etc...

Next you have to develope a marketing plan. In addition to becoming a neighborhood expert you need to find out how to reach those people. Join the Home Owners Association or the PTA, and develope your marketing materials to address local concerns specifically. Make your content memorable. People won't call you for their real estate needs unless they remember you.

Commit to contacting your market 2 to 3 times a month for the next year. If you can't afford to mail out that many times then make your list smaller. Consistency is the key when establishing yourself as the local expert.

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