Choosing Your Niche in Real Estate

There are endless opportunities and avenues in real estate, but most of use have seen at least one of our friends leave the field within a year or two of starting. One way to dig in, while assuring growth and longevity, is to select your niche clientele or market sector. When you are looking for your niche in real estate, there are many factors to consider and weigh out.

1. Consider your passion 

    Is there a part of the population that you really feel a drive to assist? Are you a sports guru who loves luxury properties? Maybe you have a drive to hunt for rental properties for an underserved population. Take that passion and throw it in the direction you feel the strongest pull. You will never regret a day when you are working toward what you love. Utilize strategic marketing, certifications, and market knowledge to learn about, attract, and serve this target clientele to a higher degree.

2. Put your background and experience to work

     Are you a veteran or possibly a military spouse? Maybe you worked in the corporate world before stepping into real estate. Take your knowledge and experience, as well as your past titles and certificates, and put them to work for you. Dig in to that market, reach out to everyone you know in that area, and make sure they know that you are there as the market expert. When starting out, lay out a marketing and development plan with this knowledge at the core. Make an area guide or relocation packet that centers around your experience and your clientele. Utilize strategic marketing that shows your understanding of the needs of your choice clients.

3. Choose a specific geographic area 

     Whether it be your childhood neighborhood, a certain zip code, or even a larger metropolis, choosing an area of focus often helps your advertising focus and networking potential. Increasing your presence in a market area assures that your name is the forerunner when services are needed. Consider market reports before you select an area, as well when you are assisting your clients- they also make a nice opening for engagement.

4. Continue your education and add a professional certification 

    Whether potential clients are searching on Google, or other agents are looking to network, a professional designation will help your name and service stand out. Professional certification and designation options are endless, and can include anything from military relocation to a business or marketing degree. As you are choosing a certification, designation, or degree to pursue, assess the potential impact and reach on your market. Looks at upcoming trends that may be ongoing or growing in your market center to help navigate the most beneficial pathway to pursue.

5. Reevaluation of valuation

When you finally choose the avenue of real estate you will pursue, be sure you set some timestamps for reevaluation of valuation. What this means is taking the time to sit down and assess if this choice is meeting both your needs and your personal expectations. This will include not only a profitability evaluation, but also a personal satisfaction assessment. If you choose a 6-month evaluation period and find yourself profitable, but miserable, it may be time to reassess venturing into another niche. Assure that you are continually watching trends and allowing yourself to augment and expand your reach within, and outside of, your chosen niche!

Ashley Williams is a military spouse, and a mom of three. Her educational background is rooted mainly in healthcare, but has recently expanded into the world of real estate . Ashley has been a team member with the MilHousing Network since 2018, when she started as one of our PCS mentors. You can now find Ashley serving as our Director of Agent Services.