Niche real estate is a hot topic! How does one go about setting themselves apart from the crowd, while still being visible enough to turn profit in an increasingly competitive industry?
That’s the quagmire on this week’s Agent Caffeine podcast hosted by Kelly Mitchell, and featuring Karlton Utter, Director of Learning Technologies for Better Homes and Gardens® Real Estate. In the podcast titled, “Niches to List, Prospecting for Sellers,” Karlton states that niche-carving is a wonderful asset for realtors who are looking to gain more listings, something that is obviously on the minds of every agent and broker out there.
The pair chats about providing sound advice such as “how to avoid becoming an accidental realtor” and declaring that agents “should be getting to know every new listing that comes on the market so we can speak to it, rather than letting the computer do our job for us.”
In addition, both Kelly and Karlton speak to the importance of establishing authority on your listings or product, as he compares MLS listings to Apple products, and states that agents should be as knowledgeable and approachable as the Apple Store geniuses when it comes to their niches and properties.
Another key point of the conversation is the idea of agents approaching their job as a marketing specialist with the purpose of selling themselves and their niche to prospective sellers. Kelly however brings up a great question about whether or not agents with certain personality types will have it harder breaking into niche building than others. Karlton, on the other hand, thinks agents have to be willing to put in the work and make the tough choices. “Just because I say today, hey, my niche is going be ‘Society Hill townhome development’ doesn’t mean I’m necessary going to have success there,” he states. “You still have to get in there, market yourself, and build relationships”
More key quotes to takeaway from the podcast:
- “To be successful in sales, you need to adjust to personalities. Not only for this transaction, but also for the future.”
- [On the lack of updated content real estate blogs and forums] “I think you have a few that really stand out in what they’re doing and they’ve been able to develop that niche…it really comes back to understanding that marketing is a large part of what we do in real estate.”
- [On being a “secret realtor”] “What are you doing in the community to really get your name out there and brand yourself so that people know that you exist?”
- “If you have trust, report and knowledge with a customer… and you tie that into the ability to understand their lifestyle decisions, and how to assist them with this transaction, I think you’re going to do pretty well.”
Get more helpful tips and advice from Karlton by checking out the “Niches to List” episode of the Agent Caffeine podcast, and be sure to follow @AllthingBHGRE on Twitter for all your tools and tricks of the real estate trade!