I have always been a promoter of agents having a niche in the real estate business. There are too many areas to cover in this industry for anyone to dabble in all of them. One should become well versed in one or two areas and focus full attention to those rather than dabble in everything. It's a good method of increasing your income.
One goal that all new agents should have in their business plan is to select a niche and focus on it. Select something that is targetable in your marketplace. As an example, if multifamily homes are prevalent in your area, you may want to focus on investment properties and market to that sector of your community.
We have a few niche areas on which my team and I focus. New construction, first and foremost, is our niche, along with resale listings. We are listing agents, and we direct our marketing to homeowners. Our new construction inventory consists of upper end single family homes, new condos for all age groups and new age restricted condo communities. We market to a wide range of buyers for our new inventory, and we assume that most will have a buyers' agent selected.
Niche marketing is easily accomplished through direct mail marketing to select groups. It's also achieved through blogging, and we have plenty of overlap with our marketing. One method compliments another.
If you have not selected a niche area in real estate, you may want to take some time, and test a few areas of the business. It makes marketing a lot simpler, and hopefully you'll develop a great fondness for the area that you select.
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