The riches are in the real estate niches
Isaiah Colton, CEO RAP Success Systems, and Chris Walker, top-producing real estate agent out of Alabama, share lead conversion strategies in the popular real estate coaching workshop “Conversion Secrets.” Here are some highlights from the most recent workshop in that series.
Niche marketing in real estate is one of the smartest strategies an agent can use to have a big impact on their practice in the shortest amount of time. Real estate coaches and educators like Isaiah and Chris have seen how niche marketing has exploded their real estate businesses and their sales volume.
One of the most common mistakes in creating the sales and marketing part of the business plan is having a lot of great ideas scattered all over the place. The best analogy is the shotgun versus the rifle. With the shotgun, everything is spread out while the rifle hones in on specific targets. A shotgun marketing approach typically involves reaching as many people as you can. Rifle marketing involves targeting your audience more closely. Both approaches have their benefits. However, rifle marketing makes better use of limited marketing dollars. Carefully targeted marketing is a better use of your limited resources, so you get more BANG for your buck.
Take a real estate agent who is working fifteen types of leads sources with no specific niche or a specific market. They may make some progress, but they won’t catapult to the next level as quickly as they would by focusing on targeted niches within those lead sources. That’s why the top producers we’ve worked with and interviewed all recommend starting with one, maybe two niches. Once you’ve mastered those niches, you can expand to others. If you start building a team, have one of them help you with some of the other niches so they don’t slip away. The important point to remember is don’t spread your marketing efforts and budget too thin.
One of the most powerful niches that Isaiah has worked with and profited from is for sale by owners and expired listings. Chris Walker has experienced the same positive results from these targets. FSBOs and expired listings have been a real game-changer for their businesses.
In this three-part series, Chris and Isaiah will share insights about sales, prospecting and marketing to these targeted niches. Watch the first part of the niches series here.