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 everyo
ne 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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Hazel