Real Estate niche marketing seems totally counterintuitive — After all, the entire premise revolves around targeting a smaller set of people in order to get a much larger return. In this post, I’ll explain why the riches are in the niches and give you 85 real estate niches to choose from.
One of the most successful real estate agents I know focuses on the smallest subset of people I’ve ever heard. He farms a very small geographic area in Orange County, CA and focuses on luxury mid-century modern homes – a style of home that’s extremely rare in OC. I had a chance to sit down with Kevin Stirdivant last year and he told me that when he decided to niche down, his volume actually went up.
I actually have a similar story. When I first started this business, I attempted to reach everyone. But when I decided to niche down, and focus solely on creative agents who wanted to learn how to generate leads at scale, my business soared – and now I have the largest online learning community for real estate agents in the world.
I know that niching down seems totally counterintuitive because the entire premise revolves around targeting a fewer set of people in order to get a much larger return.
But the reason why it works is because it allows you to attract the best and repel the rest! If done correctly, the people who you’ll be excited to work with will immediately resonate with your brand and want to work with you too! And when the time comes for them to buy or sell, you are the one that they will look for – making every other agent totally irrelevant.
When it comes to real estate marketing, you have to stand out from the crowd – and you need to do it immediately. Some real estate agents will choose to set themselves apart using strange colors, slogans, logos, or cheesy gimmicks — This is a huge mistake. People will definitely remember you, but for all the wrong reasons.
The best way to stand out from the crowd is to market to a subset of the population. If done correctly, this small group of people will immediately self-identify and resonate with your brand. And when the time comes for them to buy or sell, you are the one that they will look for.
When you niche down, you can really understand who your ideal client is. This solid understanding will allow you to create an avatar of this person. How old are they? How much money do they make? Where do they live? What are their biggest concerns? What are their dreams and aspirations?
Your marketing plan literally transforms when you finally realize that your ideal customer is a 32-year-old husband and with his expecting wife, whose number one priority is trading their trendy condo in the city for a quiet home in the suburbs… just in time for the baby’s arrival. Once you truly understand your niche, your marketing will no longer feel like a burden, because you now have a template that’s easy as filling in the blanks.
Furthermore, digital advertising requires you to niche. Facebook requires you to get as granular as possible when targeting your ads. If you nail your ideal niche, farm, or client, you can attract leads like honey. But if you don’t, Facebook penalizes you with higher costs per click – which means that much of your marketing budget will be wasted.
Search engines like Google reward niche websites – Especially if you pick a niche with popular keywords and relatively low competition. For instance, it’s a lot harder to rank for “Los Angeles Real Estate” than it is to rank for “Los Angeles Horse Properties.”
To dominate this niche, you would start a blog about all things equestrian in Los Angeles. You could talk about popular places to ride, stable, and exercise horses. I would have interactive maps showing all of the neighborhoods that are zoned for horses in Los Angeles and IDX Feeds of all the homes for sale that meet the criteria. I would also have tons of posts answering common questions that arise when buying or selling horse properties in Los Angeles. You could also have videos detailing why some properties are more suitable for horse lovers than other or pitfalls to avoid when choosing a home.
The more you blog about, the more you’ll get discovered on Google. Furthermore, it’s easy to outrank sites like Zillow, Trulia, and Redfin when you take this approach because they have little to no market saturation when it comes to real estate niches.
When you focus on a particular niche, you really get to dive into every aspect of it — Which makes you better and better over time. When people come to you, your knowledge and expertise will easily shine through. Clients will hire you and trust you based on your expertise.
For instance, if I was a veteran, I would prefer to work with a real estate agent that specializes in veteran’s affairs. I would feel more comfortable knowing that my real estate agent understands my deepest fears, goals, needs, and finances. I would also want someone that has experience working with lots of other veterans before me.
There’s an old saying that says, “When you try to reach everyone, you become special to no one.” This is because generalists are so common. Think about it. In every industry, the people who make the most money are always specialists – Doctors, lawyers, restaurants, entertainers, athletes, musicians, etc. Real estate is no different. So choose a specialty and you’ll always be in high demand.
There’s definitely a right (and wrong) way to pick a niche! When it comes to choosing a real estate niche, there are a few things to consider:
You need to know if your niche can support your salary.
Lower home prices mean lower commissions.
If the people in your niche only move every 15 years, that’s a problem. Aim for a turnover rate of 10% or more, but the caveat is that this may vary by geographic area, so reach out to your title rep to see what an ideal turnover rate is for your market.
Again, if there are only one or two homes sold per year in this niche, then it may not be able to support your salary.
Try to pick a niche that’s close to home, so you can sell and show homes there on a moment’s notice.
I teach agents how to dominate any local market, so I never worry too much about local competition, but when picking a niche, you do need to take it into consideration. This is because if you’re choosing between 2 niches and one has zero competitor market share and the other already has a local leader established, you’re going to want to pick the easier market to start – then work your way into the second slowly.
85% of real estate agents fail within their first 5 years. And do you know why? Because they aren’t generating enough leads to scale their business.
That’s the ugly truth about this industry. But the good news is that you are 100% responsible for the actions you take and the results you get.
Join our FREE Masterclass where you’ll learn how to create leads on demand, nurture relationships at scale, and take over any local market.