What sets you apart from other agents? What expertise do you lend to your clients that your competition can’t provide? What type of client, location, or culture do you offer unparalleled knowledge and understanding of?
Most successful real estate practitioners will have very clear and specific answers to those questions. With multiple (sometimes thousands of) agents residing in and serving the same community, agents are forced to find ways to differentiate themselves from their competition.
Creating a business plan and marketing strategy is a critical first step to success. Establish your differentiator. Identify your niche, then create a business plan and marketing strategy where each initiative points back to the original purpose—to serve your specified niche market.
It might seem that you’re narrowing the range of your prospective business, but you’ll be substantially improving your odds of winning and dominating a given market. And, when implemented correctly, niche marketing will save you money.
This strategy is particularly well-suited to global agents, who literally have a world of opportunities to select from. If you’re intrigued by the idea of owning your own little corner of the global market, look inside this issue of Global Perspectives where you’ll find all the nuts and bolts of a niche marketing strategy—from understanding its benefits, to selecting and cultivating your own global niche.