You might be thinking, “My ideal client is anyone looking to buy or sell real estate!”
This is a common belief among agents, especially rookies who are just getting their feet wet in the business and building their client base. Believe it or not, that philosophy can actually limit the growth of your business because you’re casting too wide of a net.
Why Is Attracting Your Ideal Client Important?
Consumers have no shortage of agents to choose from, but they’re looking for someone who understands their unique needs. They’re more likely to choose a professional with specific specialties that fit exactly what they’re looking for.
Understanding the type of client you want to work with will help you define your value proposition and what makes you different from your competition. Think about the types of properties that excite you, and look for clients who share that passion. To do what you love, you need to find clients who love it, too.
The Benefit of Niche Marketing
Finding your niche in real estate means narrowing down the vast array of services you could provide to the specific things you’re passionate about—and then telling the clients whom you can help the most. It’s easier than you may think to get the message out once you’ve honed in on what you want to say. Sometimes, it’s hard to know where to start, though, so here are seven steps to help get you going.
- Don’t fear excluding potential customers. Never saying no to anyone may seem like a good way to avoid missed opportunities. But the number of hours in a day is finite, and prioritizing the clients you want to assist will help you work smarter and more efficiently. Think of saying no to a customer who doesn’t fit your niche as saying yes to the next ideal client whom you’ll use your time to attract instead.
- Identify the right clients for you. List the qualities you look for in an ideal client, including how they communicate, their preferred properties, and their price range. Keep in mind your list should NEVER be based on race, color, religion, sex (including pregnancy, sexual orientation, or gender identity), national origin, age, or disability. Keep the deciding factors strictly to how you think a real estate transaction would go with the prospective client and how your expertise might match their needs.
- Identify your competition. Once you identify your niche, you might feel like you’re the only agent in that space. That’s not quite true. Even if your ideal client is very specific, there are likely other agents who are looking for similar customers. Identify and research your competition. See how they engage on social media, and check out their website. Consider what they do well, what you might be able to do better, and how you can incorporate their ideas into your own marketing.
- Get involved with your target clients. Once you’ve identified your ideal client, connect with them. Where do they spend their free time? Wherever they are, you need to be there, too. Community groups tailored to people who fit the profile of your ideal client are a good place to start.
- Expand your sphere of influence. Every person you bring into your sphere may not fit the profile of your ideal client, but they may have a friend or two who do. While you’re focusing on your niche in the present, you never know what future endeavors might appeal to you. Wherever you are and whatever you’re doing, casually let people know what you do for a living. After all, it’s usually the first question new people will ask you.
- Make your marketing interesting. If you want to attract your ideal client, present yourself like they do and display your expertise. One idea is to create interesting, educational, and shareable digital content. Make YouTube videos and social posts about those topics, and share articles from other experts as well.
- Listen to your instincts. The old adage of listening to your gut applies daily in real estate. Trust that if you feel a little off when initially meeting your client, they might not be a good fit. If your heart isn't in it, you might risk not putting your best work forward, which can reflect poorly on your business and influence future clients.
The Bottom Line
You can identify your niche when you know what it is that drives you to be the best agent. This will help you work more purposefully and bring unique and specific expertise to your real estate business.
To get connected, visit RocketPro.com/RealEstate.