BrokerageIndustry News

Get rich in a niche

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

(This is Part 1 of a three-part series. Read Part 2, "Marketing to younger, first-time buyers can pay off," and Part 3, "Consumer secrets Realtors can't afford to ignore.") There are currently 1.3 million Realtors and approximately another 1.3 million people who aren't Realtors but hold real estate licenses, according to the National Association of Realtors. Competition, especially in a declining market, is tough. What can you do to stand out from the crowd and have a great year in 2008? At its annual conference in November, NAR released its "Member Profile" for 2007 as well as its "Profile of Home Buyers and Sellers." These two documents reveal what's working in the real estate industry today, as well as potential opportunities for savvy real estate professionals to capture more market share. 1. Get rich in a niche The NAR study showed that 88 percent of all Realtors earn more than 50 percent of their real estate income for their primary real estate specialty. Top-producing agents no...