CHAPTER 10 Develop a Niche Market
Why would I suggest you develop a niche expertise and then promote yourself as an expert? Won't that limit you in your marketplace? What about people who want to buy or sell a house outside that niche? Won't they refuse to work with you? Fortunately, that's not the case. Let me tell you a story about an agent who benefited from the niche strategy. I know an agent who developed a perfect niche. She became the best at helping people buy or sell all properties in her specific area of specialization. She's in a small market, not a big, huge market. The average house price is around $200,000, and yet she's selling $30 million to $40 million a year consistently! She sold $35 million in volume in 2012 when the housing market was recovering from the recession. That niche has given her a great business. Here's what's interesting: only half of the houses she sells are in her small niche. She gets lots of other business from people who aren't buying or selling a home in her low-end bracket. Here's why it happens. That niche is like rocket fuel for her real estate business. People buying or selling a house within her niche hire her because she's the expert in that niche. They put their home on the market with her, got to know her, and realized she was a fantastic agent. As a result, she met many people. Those people can tell that she's great. She knows her market. She provides excellent customer service. She saves money for her 71
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