- Finding a real estate niche is the key to getting more clients. Despite what many agents think, niching brings in more business, not less.
Want to get more clients but aren’t sure what to do? Real estate agent Jennifer Myers was in the same boat, but through a little trial-and-error, she’s perfected a three-step system that allowed her to sell 40 homes last year.
For the first four years of her career, Myers only sold two homes. No matter what she did, she couldn’t seem to land more clients and was starting to think that real estate just wasn’t for her.
A few years back, however, something clicked — she realized that she wasn’t seeking out the right clients, and she was trying to drum up business in all the wrong ways.
Over time, Myers perfected her system for getting real estate clients. Thanks to this system, she’s managed to completely turn her business around. Last year alone, she managed to sell over 40 homes!
Listen to the podcast interview below for a discussion on what it took to go from two home sales in four years to over 40 per year. For a rundown on her proven client-generation system, read on.
Step 1: Choose a real estate niche
There are countless real estate agents out there these days. If you’re not able to stand out from the crowd, potential clients will have no reason to work with you over other agents in your market.
One of the best ways to set yourself apart from other agents is to find a real estate niche — something you know well and are passionate about.
For Myers, the right niche was first-time homebuyers. As someone who had a lot of problems buying her first home, she wanted to help other first-time homebuyers avoid the frustration she experienced firsthand.
She became an expert and was able to give her clients a level of service that no other agent in her market could provide. Her business quickly started to grow through referrals alone.
Step 2: Answer two critical questions
Once you’ve found your niche, you need to answer the following critical questions:
Why should clients choose you over other agents?
Think long and hard about why potential clients should choose you over someone else. Is it your market expertise? Perhaps you deliver five-star customer service that competing agents can’t match. Whatever it is, it needs to be compelling.
Why should your target clients buy or sell?
You also need to know why your target clients should buy or sell real estate. If you don’t see value in the deals they’re making, clients will have a hard time seeing lasting value in you as an agent.
Step 3: Convey your value to potential clients consistently
After finding a niche and uncovering your true value as a real estate expert, you need to communicate this value to the right type of clients, and you need to do it consistently.
How you do this is up to you, but Myers has found that email marketing works best for her. Using segmented email marketing campaigns, she’s able to generate enough business to earn over $1 million in commission per year.
Her success with email marketing is proof that you don’t need expensive online leads or a massive advertising budget to bring in new business.
Here’s a final note for those worried that selecting a niche will limit your business opportunities: once you become an expert in something, people will think that you’re an expert in everything. Creating a niche for yourself will help you get more business because it’s better (and easier) to provide in-depth expertise and value to fewer people than to try to be all things to everyone.
To hear more about what you can do to get more real estate clients, listen to the complete podcast interview with Jennifer Myers.
Pat Hiban sold more than 7,000 homes over the course of his 25-year career in real estate. Now, he dedicates his time to helping others succeed as agents and investors. As host of the Real Estate Rockstars Podcast, Pat interviews real estate experts to explore what works in today’s markets. He also founded Rebus University, an online training platform for real estate agents and sales professionals.