Anyone who has listened to one of my speaking presentations, scanned any of my articles, or even read a few recent posts here on my blog will know what a HUGE proponent I am of defining your niche market.  It is the difference between being a Lemming - blindly following along with what everyone else is doing and falling to the same fate, as opposed to being a Lion - king of his territory, in control of his fate.  Of course, this is the super-premium, ideal (and entirely realistic) scenario for a real estate agent, but stop to consider the other side of the equation… the CUSTOMER.

Not all agents are entirely sure whether or not to believe me when I lay out not only the advantages to them for creating a niche, but also the step-by-step means by which to do it successfully.  Many are afraid that by “limiting themselves” to a specific type of customer or market need will result in actually losing all the other potential business which may be available out there.  Well, you know what they say about trying to be all things to all people, right?  It just doesn’t work, and there are really no exceptions to this rule especially now that the internet allows such broad access to literally all things.  But to get on with my point, I will spare you any further lecture on this particular topic.

What is my point about Niche Marketing?

Besides the benefit having the corner on a particular target market provides a broker or agent, it also provides an immense benefit, and hence irresistible draw, to the consumer.  Having a specialist to turn to, who can provide immediate access to the specific types of information required to cater their needs, is a 100% certain way to ensure a fiercely loyal customer.  When you find a doctor you trust, or a stylist that does your hair just right, or a restaurant that knows exactly how you like your steak prepared, do you abandon them at the first opportunity?  NO!  You return to the comfort and assurance that you will be taken the best care of possible.

An admirable demonstration of this point is presented by a REALTOR^® Frank Zedar…

Creating a Market for Heroes - of All Kinds

Frank, a long-time broker and Army Vietnam War veteran, created www.RealEstateForHeroes.com.  It is a no-strings attached program for all branches of military service (both active and retired), law enforcement, firefighters, paramedics, emergency response personnel, and - here’s the surprising part that really shouldn’t be… teachers and nurses!  Basically, Heroes of all kinds.  Frank works with them closely, knowing the areas, price ranges, financing programs, housing features, etc. each would be looking for, and not just among his own listings.  Then, upon closing, Frank turns around and hands 30% of his commission right back to the individual.  Think that builds a little bit of loyalty?  Yes, I would think so.  Think he gets enough referrals to more than make up for it?  You betcha.

Here’s the deal.  Frank has the personal experience and understanding to know what his niche’s needs are, and to provide them with essential options and answers.  Then, he extend the irresistible offer: a no restrictions, no requirements, here’s the check and it won’t bounce financial return.  But, the real key to it is, although he certainly enjoys the successes of Real Estate for Heroes, the reason he does it is because it is his PASSION.  Not just for the military heroes, but for the all the heroes of our society and community.  It is not a tax-break, he does not raise outside funds, it has nothing to do with his agency (RE/MAX Oceanside).  He just does it because he wants to.

So please, do a service for your Customers, become a Lion and find a suitable territory.  And, if you have already done or at least started to begin this leonine transformation, make sure you follow through with it by learning all you can and putting all the fresh ideas out there you can.  You AND your future clients will be so glad you did!

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Mr. Internet’s Modern Aesop Fable:

 The Lemming Meets The Lion and Who Survives

Lion: Hello, Lemming

Lemming: EEEK!  What are you?

Lion:  I’m a Lion.

Lemming: A what?  Oh well, never mind.  Even though you smell a bit funny, you want to run with me?  I’m going this way.

Lion: No thanks. Really.  I’m pretty happy in my territory right here.

Lemming: WHAT?  But, we’re ALL running this way!  Look!

Lion: Yes, I know.  But, do you know there’s a cliff right over there?

Lemming:  A… cliff?

Lion:  Yes - big drop off, sharp rocks and a lot of water at the bottom.  Very nasty, very dangerous.  Don’t you read the papers?

Lemming: Hmmmm, doesn’t sound too pleasant.  What was that thing you said about being happy in a territory? What’s that?

Lion:  Why yes!  I scouted around and found this area that seemed pretty nice and interesting, so I learned it’s every detail very carefully.  I found I really liked it a lot, so I decided it and most everything in it was mine.  With all the turmoil in the world today, there’s plenty of prey for me to hunt, and it’s easy because it just, ahem… runs right on into my territory.  In fact, I’m sorry about this, but I’m feeling a bit peckish right now…

Lemming: Lion - what are you doing?  EEEEEEEEKKK!

Mr. Internet’s Moral: 

If you continue to do what everyone else is doing, you’ll end up with the same results as everyone else.  Differentiation is the key to not only survive, but thrive in any market condition.

A Lemming Wakes Up

One of my eTEAM Leaders recently told me of a new member who joined her team in quiet desperation.  Now, that sounds bad, doesn’t it?  Not really, when you know the rest. 

This was an older gentleman who had “been there, done that”, having made the real estate industry his entire career.  Everyone looked at him as the rock in the middle of their office.  But he realized he was not happy anymore!  Why?  Because he was working way too hard for the results he was getting.  Had he lost his edge?  Should he retire?  These thoughts haunted him, but he kept hearing discussion in the office about Online Dominance and the success several of those team members were enjoying.  So, he went to the eTEAM Leader, and when she asked why he wanted to join, he answered , “Because I need to.  If I don’t, I think I might as well just give up.”

Now, this story is not intended to be a shameless promotion for my program.  My point is that this gentleman is The Lemming that snapped out of the group mentality as one foot went over the edge of the cliff.  He actually stopped, looked down and said “Uh-uh, no way!” and took a look around.  On one side, he saw another lemming being eaten by a lion - he decided two things:  one, (very reasonably) that may not be the best direction to go, and two, that The Lion obviously had the right idea. 

By differentiating himself from all the other realtors struggling to round up business in this market, he has done much better by creating a niche and mastering it.  He is learning to enjoy his new career and life… as a Lion!

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Blogging - one of the most powerful internet tools available today, some would even say THE Most.  What started as a simple means of journaling or making social commentary has become a major workhorse when it comes to generating traffic and business.  But, as with most workhorses, this particular Clydesdale requires a lot of care and attention:  grooming (need to stay on top of moderating those comments, archiving old items, etc.), exercise (you need to have fresh angles and approaches on a variety of topics to keep ‘em coming back), feeding (you must continually post new material)… We won’t get into mucking out the stall right now. 

However, the rewards you can reap from a properly run blog are bountiful indeed!  Especially when you consider that you don’t necessarily have to do it all yourself - simply find a virtual assistant who knows all the tricks to train your blog and keep it running in the right direction. 

For your consideration, read the following blog posted by Kevin Tomlinson:

Read the rest of this entry »

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Anyway, the item he put into action was the Internet Empowered Consumer letter.  As he puts it, “Your IEC letter has worked wonders for me.  I send out many, many IEC letters, knowing I will never hear from most of the recipients again. That’s OK. However, enough of the recipients do eventually respond with their hearts. With the help of your letter, I have ‘created’ some excellent clients.”  Now, you can’t beat that!

Sending these letters brings about a mindset change for the REALTOR^® which is crucial for success.  Firstly, it “speaks their language”, automatically building trust with the IEC, while telling the consumer that you are there to serve them when they are ready.  Secondly and every bit as importantly, this creates in your mindset as an agent or broker that you have enough confidence in your program that it is not necessary to bug people to death to get their business.  This apparently has caused a tremendous positive shift in business for Charles.  The equation that works for Charles is: Clever Letter + Mindset Change = Successful REALTOR^®.

What equation works for you?  If you can’t think of one, you need to take a fresh look at the way you are doing business…

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