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How to Pick Your Niche in Real Estate

As you’re probably aware, a doctor picks a specific area of medicine or surgery to learn, whether it’s internal medicine, neurology, dermatology, or so on. There’s more than one path to take in medicine.

The same goes for real estate.

Real estate niches start with the two main markets: commercial and residential. There are benefits for choosing a niche in real estate. For one, there are plenty of qualifiers you can add to these specializations to make your niche more specific. The other, you’re more likely to stand out from your competition.

Creating a niche means forming an identity that tells clients what your speciality is. It’s positioning yourself as the expert. That’s because you spend your time learning about your specific area as much as you can.

Let’s say you decide to focus on beachfront properties. You can then market yourself as the beach house guru.

Whether it’s beachfront property or downtown condominiums, once you have found the niche that speaks to you, concentrate on being the best in that field.

First, educate yourself. For instance, what are the contracts and practices while selling real estate in your niche? Research all of the legal and technical aspects of your niche.

Then, familiarize yourself with the properties, people and language used. In other words, really get to know your client base. How? Get out of your office and into the field. Hang out at local restaurants and establishments in the area. Physically go see the properties that you want to sell. Talk to the people who are interested in these properties. By familiarizing yourself with your real estate niche, you will show clients that you are indeed the right person for the job.

Lastly, brand yourself.

If you use social media, ads or email blasts to market yourself, make sure to create a brand that not only associates with your niche, but really resonates with your audience. If you are the beachfront condo guru, create a brand that matches that. When people see your name, they will remember you and will know exactly what area you specialize in.

Now you know the importance of having a real estate niche and how to create it. Choosing the right niche can help convert leads and increase your business. Remember, the best niche is the one that best matches your interests.