With many Realtors chasing a declining amount of business, it’s those who become an expert in a specific niche who are best positioned to succeed, says an expert in real estate newsletters. He gives a three-step plan to dominate a niche, plus detailed instructions real estate agents can use to construct an effective marketing plan.
With many Realtors chasing a declining amount of business, it’s those who become an expert in a specific niche who are best positioned to succeed, says an expert in real estate newsletters.
Simon Payn, founder of Realtor newsletter provider Ready to Go Newsletters, says homeowners are looking for an agent who is “just for them” — who understands their own personal needs and will be best able to serve them.
It’s simply not enough to be the same as every other real estate agent
And, says Payn, the most successful Realtor will be the one who is “best in the world” as serving people in their niche.
“It would be nice to be the best Realtor in the world,” says Payn, “but with hundreds of thousands of real estate agents competing for a slice of a smaller pie, it’s not possible to simply be ‘the best Realtor.’
“However, it is still possible to be the number one Realtor in a specific niche — and that’s what real estate agents should be aiming at.
“That’s how they will be able to differentiate themselves in the marketplace and become the natural choice for homeowners with specific needs,” says Payn.
Payn advises real estate agents to follow three steps to dominating a niche.
1) Decide which niche you want to dominate. For example, become the dog-loving Realtor who is an expert at helping dog-owners find their ideal home — or helping dog owners sell their home with a resident pooch. Alternatively, become the empty-nesters’ Realtor, who specializes in helping empty-nesters downsize or relocate. Naturally, it helps if you already have knowledge about or passion for a niche.
2) Prepare a basic written report on the needs of homeowners in your niche. This written information will form the basis of all your marketing efforts in the future. The act of writing will help you determine the needs of your niche and help you find out if you have enough knowledge to serve them. If you feel you lack knowledge, set about learning what you need to learn.
3) Develop and implement your marketing strategy. The plan you create will include deciding how to reach out to your niche and how to develop a strong presence within that niche.
There are many things a real estate agent can do to as part of their marketing plan to dominate a niche. Among them are:
Develop a strong USP within that niche. Decide exactly what makes you special — what makes you different from every other Realtor — and put that into words – your Unique Selling Proposition. For example, your USP could be as simple as “The Springfield Realtor who specializes in helping dog-lovers find the perfect home for their family pet and helping dog-owners sell their home,” or “The ‘Now We are
Two Again’ Realtor: the expert in helping empty nesters find the perfect home.”
Figure out how to reach homeowners in your niche. Discover the “touchpoints” for your niche — where homeowners in your niche hang out, what publications they read and which websites they visit. Find out which keywords they are searching for in Google and what they are really looking for in a Realtor.
Discover their most common questions and their most important needs. Once you know where the homeowners in your niche hang out (and what they are specifically looking for), it will be much easier to reach them in a cost-effective way with your marketing and relationship-building efforts. Instead of marketing to everyone (and wasting a lot of money) you will be able to market just to the people most likely to need you.
Write the ultimate guide for homeowners in your niche. Develop a written report that answers all the common questions that homeowners in your niche will have. This report will form the basis of your marketing efforts because you will be able to give it away to interested homeowners, thereby reinforcing your position as an expert in your niche. Don’t worry that people will take your information and go FSBO or choose another agent; the dangers of this happening are hugely outweighed by the advantages of building yourself a reputation and a trustworthy expert in your niche.
Become a published expert in your niche. Write as much as you can about your niche and publish these articles in as many forms as possible. You can use some of the content from the guide you prepared earlier, ‘re-purposing’ it for articles on your website or blog, in your real estate newsletter or for other publications. The dog-loving Realtor, for example, might be able to publish an article in the local kennel club magazine. Write articles for your website which contain the keywords homeowners in your niche are using so that you are more likely to show up in a high position within the search engines. At the end of each article, make sure you include a call to action, encouraging people to contact you. For example, the dog-loving Realtor would say: “Attention dog-lovers: Call me at 555-5555 for my free report on finding the ideal home for your pet.” When people contact you, send them the report and ask if you would like to receive your monthly newsletter.
Develop a relationship with your niche. Keep educating and informing your farm on a regular basis, using printed real estate newsletters, real estate e-zines, blog posts and postcards. Include articles about topics in your niche to reinforce your position as an expert who delivers reliable, useful advice over the long term.
Be consistent in your branding and your message. Don’t deviate from your position in the marketplace. Make sure everything you do, the words you use and the images you choose are consistent with your position.
Payn says that any Realtor who follows these steps can become the number one recognized expert in their niche in six months.
“It’s simply not enough to be the same as every other real estate agent,” says Payn. “Successful
Realtors need to develop a plan to become the only agent that’s ‘for me’ — the best in the word as serving a specific niche of homeowners.”