Why Finding a Niche in Real Estate is Important

When you select a niche market you develop a very successful real estate market because the moment you choose a specific message that targets a specific audience you get to speak their language.

Aug 30, 2021 - 08:30

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Why Finding a Niche in Real Estate is Important

Akothee's house in Rongo [photo/courtesy]

There is this common saying, the riches are in the niches. Finding your particular niche or rather narrowing down to a particular niche in the vast real estate industry helps you define your target audience hence having a higher success rate in terms of income and profit. One may argue, why not be a jack of all trades? Well sometimes being a jack of all trades is being a master of none. The next question then becomes why this is so?

When you select a niche market you develop a very successful real estate market because the moment you choose a specific message that targets a specific audience you get to speak their language and this makes whatever you are saying more relatable to them and you will also be able to provide information that is needed at a particular moment.

Selecting a niche also comes in when selecting which property type you want to venture in. There are different types of properties: single-family homes, duplexes, condos, and maisonettes just to name a few. Due to economic inflation and fluctuations, there are times when certain properties will be on-demand than others. Therefore having a niche in property types offers you a unique selling position on particular types of properties all at the same time being able to sustain yourself and your business.

There is also the matter of geographic location. In real estate, people are always told that it’s all about location, location and location. When you are a real estate agent you will want to be able to sell properties from the leafy suburbs to those properties in the central business district. Similarly, narrowing down to let’s say the leafy suburbs as your niche will give you an added advantage. This is because people will always go to you whenever they want the best deals in properties when in the suburbs. It may be challenging at first but after a while, it will be profitable as you will be making more sales in the suburbs than those making sales in the CBD and suburbs combined.

-Edited by Skeeter Imisa