RISMEDIA, March 17, 2010—In 2009, the total number of available transaction sides per agent increased by a whopping 13%. This is the largest recorded gain in over 25 years. Simply put, there is still a lot of business to be had and a lot fewer agents going after it. Successful agents have embraced the change and are already profiting. The current marketplace is full of challenges but it also provides more niche opportunity than ever before. The following four strategies will help you profit from niche marketing in today’s market.
1. First-Time Homebuyers: Forty-seven percent of home buyers in 2009 were first-time buyers motivated by thousands of tax credit dollars. Take advantage of this opportunity by offering a free “Tax Credit Consultation.” The strategy works much like free CMA’s where you offer your real estate knowledge in return for spending valuable time with prospects. By consulting potential clients on whether or not they qualify for the new tax credit, you will be earning their trust while letting them get to know you as a real estate professional.
2. Expired Listings: Twenty-five percent of all listings in 2009 expired. Simply put, marketing to those properties could have gotten you a second chance at 1 out of 4 listings in your area. When a listing expires, you need the homeowner to think of you. Take advantage of this opportunity by getting in front of these potential customers on a regular basis. Remember, if you’re not visible- you’re invisible.
3. For Sale By Owner (FSBO): Eleven percent of homes sold in 2009 were For Sale By Owner properties. The challenges of this market make real estate professionals more valuable than ever. Your marketing should educate people trying to sell their own homes on the importance and financial advantages of using a Realtor. When the FSBO decides to hire a professional, you need to be the Realtor they think of first.
4. Distressed Properties: Thirty-six percent of all sales in 2009 were distressed and this number will only increase in 2010. Take advantage of this opportunity by consistently delivering a message of hope. These property owners are scared, intimidated and in most cases, hoping for a miracle. Your marketing needs to let distressed property owners know they do have options and you can help.
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4 Tips to Profit from Niche Marketing