Becoming a specialist in certain areas of residential real estate is how the most successful agents stay on top of the game year after year:
With over 2 million licensed real estate agents in the U.S. as of 2024, making a few cold calls and holding a couple open houses isn't going to cut it if your goal is to make a mark and stand out from the crowd. Instead, try hyper-focusing on a specialized real estate niche to set yourself apart and dominate a corner of the market. Here are the Top 3 Real Estate Niches to help you do just that-
Here are the Top 3 most profitable Real Estate niche ideas to focus on in your business to close more deals:
Real Estate Niche #1:
Become a Certified Divorce Real Estate Expert
If you want to really market-proof your real estate business, becoming a certified divorce real estate expert is a great place to start. According to SmartAgents.com, 61% of all divorces result in a family home being sold. This presents tremendous opportunity to service this corner of the market.
How to become a divorce specialist real estate agent
The first thing you'll want to do in order to start seeing an inflow of divorce real estate leads is connect with a local divorce attorney. Reach out to them and find out if they have a preferred agent that they typically refer business to. Even if they do, many divorce attorneys like to give their clients options so it may be wise to see if they'd be willing to add you to their list.
On top of making connections with divorce attorneys, you'll want to become a certified divorce real estate expert. This involves taking some courses that will typically run $1,500-$5,000 depending on where you live. However, doing so will make becoming a go-to resource for divorce and probate sales in your market that much easier and will almost certainly pay off in the long haul. For more information on getting your real estate divorce specialist certification (CDRE™ or CDS® ), go here.
Real Estate Niche #2: Architectural Niches
Specializing in a specific type of home-style or architecture is a unique way to attract more clients who's homes fit your niche. For example, if you're passionate about Spanish-style homes- make that your brand! Maybe you love mid-century modern homes: create a newsletter sharing all things mid-century modern. This is how you can build a following for your personal brand and become known as the expert in whichever style home you choose to focus on. If you're the creative type of agent, this is a great way to channel that energy and have some fun while growing your business and audience.
Real Estate Niche #3: Expired Listings
Properties go unsold even in the most heated markets. There are countless reasons why a house may come off the market unsold. A few common scenarios include pricing issues, poor photography and staging, and timing. Whatever the case, these homeowners are usually left disappointed and their moving plans are often put on hold due to their lack of answers.
By becoming a listing re-launch specialist, you can position yourself as the expert in this category and serve the homeowners that missed the mark the first time around. There are many great resources out there to help you get in front of homeowners who recently had their home come off the market. One of the most effective is Vulcan7. This service provides agents with real-time lists of properties that recently came off the market along with the contact information of the owners.
How to effectively serve the expired listing market
It's important to approach expired listings with a sense of empathy and compassion. Often times this can be a sensitive subject for homeowners. Letting them know that there is still hope and that this outcome is not uncommon is the first step in building rapport with them. Expired homeowners are typically bombarded with calls from real estate agents once their home comes off the market so providing value and showing them that you actually care will set you apart from the rest. For a comprehensive guide on how to effectively serve the expired listing market, go here.
Did you catch our last post? Check it out here: Innovative Ideas for Real Estate Marketing Materials
We may earn a commission from purchases made through links in this article.
Comentarios