Pick a Niche Real Estate Market and Become the Expert

niche.jpgIf you ask any real estate coach or marketing expert what you should do to stay competitive as a real estate agent, they will likely tell you the same thing – choose a segment of the market that you are most familiar with, and become the expert.

Ubertor blog posed this question in a recent interview with Seth Godin -internet marketing expert and frequent speaker at real estate conferences.

Ubertor: If you were a Realtor what one way would you market yourself differently?

Seth Godin: I would specialize obsessively. On a neighborhood or a market segment. (For example), I’d only sell restaurants, or condos, or to the gay community.

According to the marketing professionals over at the MarketingLaunch.com blog, market segmentation involves dividing your market into smaller (and more manageable) sets of prospects who share certain characteristics.

Here are some types of market segmentation for today’s real estate professionals:

Demographic segmentation: Target age, gender, socioeconomic status or education

Lifecycle segmentation: Target different stages of life (young singles, married couples, families with kids, empty nesters, or active retirees).

Specialty segmentation:  Target a narrowly defined market (i.e. luxury homes)

Geographic segmentation:  Target specific neighbourhoods or communities.

Vertical Industry segmentation: Target a defined group in the real estate industry (i.e. FSBO’s or new homes)

Job segmentation: Target migratory or temporary or out-of-town workers.  

Taking this idea a step further, blogging is a great way to establish yourself as an expert in your chosen market segment.

See our recent posting, entitled ‘Knowing Your Audience is Key for Real Estate Bloggers‘ for tips on how to get started.

Advertisements

3 Responses to Pick a Niche Real Estate Market and Become the Expert

  1. Solid advice. I would also add: become an expert in one or more marketing methods that generate business consistently.

    Expired listings, for example, will be a great opportunity over the next couple of years to generate leads, listings, and business quickly. There are easy to find, inexpensive to market to, and not hard to list, if you have a good system in place.

  2. gorcat says:

    Nich Real Estate Marketing Tip,

    I represent a company that specializes in a new form of Internet advertising that guarantees that you will get a 100% conversion rate on 100% of your website traffic. I would like to fill you in on more details. Are you the correct contact in regard to business development for your website?

    http://www.bagit24hrs.com/Recommends/PayPerPlay/

    To your success!

  3. […] Wikipedia Content in your Web Marketing We’ve discussed on this blog before about creating a niche for yourself in the real estate […]

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: