How can you tell if a market segment will be profitable? There’s no hard and fast rule that will tell you “yes, this is profitable” or “no, it isn’t”. However, researching the data on your target market can be useful. Here’s a quick way to analyze a market if you have a geographic focus. (Note: [...]
When many real estate agents get into business, they take on any clients they can find. Later, when they start to consider specializing for a real estate niche, they realize they have a hodge-podge of past clients who may or may not share similar characteristics. To start narrowing your focus, look at your current and [...]
Choosing a real estate niche and positioning yourself as a specialist is fundamental to your marketing success. By choosing a niche, you can focus your resources on those people who are most likely to do business with you. If you haven’t worked with many clients, you can choose your target market by narrowing down your [...]
Narrowing your focus by choosing a target market is the first step to creating a successful real estate marketing plan. Your time and money are limited, so you must find a way to reach the right prospects affordably. Trying to target “anyone who plans to buy or sell a home in the next six months” [...]
Before you can start marketing to prospects, you have to know who you’re marketing to. That means uncovering the types of people that are inclined to buy your service, what their motivations are for buying, and why they might buy from you or your competitors. At any given point, only a small percentage of the [...]
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