Marketing is the cornerstone of any successful business. Knowing your target audience and doing everything in your power to reach that audience is something that all real estate agents should strive for. In some cases, this requires singling out and honing in on your niche market.
As a real estate agent you know all too well the importance of location. You could serve any number of areas within a centralized region, but the specific neighborhoods and communities within that region are likely to differ. This is why it’s important to cultivate a niche marketing campaign in order to more effectively reach the potential home buyers and sellers that really drive your local housing market.
For example, if you serve the Orange County area then you’ll likely want to devote the majority of your marketing resources to reach high-end luxury buyers. Orange County is more likely to attract these types of buyers than those who possess limited income and assets.
On the other side of the coin, if you serve a more modest region not known for its luxury high-end homes, then you’d want to alter your marketing strategy to attract more middle class buyers.
And if you serve a market that carries both high-end homes and more affordable properties then be sure to diversify your marketing strategy to include potential buyers and sellers of all types.
Changing with the market
The housing market, both on a national and local level, is constantly changing. Long-term mortgage rates are up and down, home sales, prices and inventory levels are consistently ebbing back and forth, and the employment rate and other economic factors are almost always altering the attitudes and confidence of potential home buyers and sellers. As a real estate agent, it’s crucial that you’re constantly staying up to date with the latest trends and adjusting your marketing strategy accordingly.
At the end of the day it’s all about making your clients happy. And the only way to do this to the fullest extent is to draw the largest number of relevant clients to you in the first place through effective marketing. Once they’re under your thoughtful leadership, it is up to you to see that their home buying and/or selling dreams come true so the housing market can continue to hum along with increasing sales and happy home owners.