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| A Monthly Publication of the Raleigh Regional Association of REALTORS® |
March 2008 Issue
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| About
Us November Dates to Remember
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from the president Thinking outside the box
According to the National Association of REALTORS® 2007 Member Profile, only a quarter of an agent’s income is tied to referrals. Where does the rest of our income come from? The Profile indicates that 88 percent of agents make half of their income from a specific niche. Coming up with that niche is what takes creative, so-called ‘out of the box’ thinking. First, select a specific area or neighborhood to focus your sales efforts, a specific property type or market segment - some area of the home buying or home selling market that isn’t saturated. Learn all there is to know about that niche and do your due diligence. Then plan how to market yourself as THE agent to contact for property in that area. Obtain designations or specialized training in your niche area to distinguish you from your rivals. Research the media outlets that you can use to advertise your expertise. Discover ways to meet the people in your target area. Finally, take advantage of technology. Use wireless e-mail and text messaging so you can immediately respond to potential clients. Create your own Web site and develop sites for individual properties to gain more exposure. Create a blog to reach out to your target market. Bone up on podcasts and how they can help your marketing approach. Don’t be hesitant to try something different, something unique, something ‘out
of the box,’ something that will make people talk. Having people talk about
what you’re doing may give you that competitive edge we all strive for. |
All REALTORS® looks for a competitive edge. We have to remember that there
are more than 2.5 million licensed real estate practitioners nationwide – all
of them competing for work.