Five Steps to Create Your Real Estate Niche

The most successful real estate agents are those who have a specialized niche — but how do you identify which niche is the best fit for you? Whether you are just starting out in real estate, or if you have had a longterm "sell anything to anyone" approach, carving out a niche will focus your business and help you become a specialized market expert. Stop chasing after every sale, and follow the five steps below to identify the real estate niche that will most effectively grow your clientele and your profitability.

1.) Do a thorough market analysis: Your local market should play the largest role in determining your niche. Research census data, relocation and building trends, and local business growth to determine the strongest potential for real estate growth in your community. Only focus on developing a niche that is appropriate for your market. Niches can range from specializing in historical homes, urban lofts, first-time buyers, school district expert — be both strategic and creative when narrowing in on your specialty.

2.) Create a specialized network: After you've determined your niche, begin assembling a network that can help you better cater to your new clientele. Working with specialized mortgage brokers, home inspectors, stagers, attorneys and other professionals to create a smoother experience for your future clients.

After you establish your network, work with them to create a thorough listing presentation that outlines the complete experience your potential clients will have. Your clients will love the feeling of exclusivity that comes with working with you and your team.