When it comes to sales, being a specialist is always better than being a generalist.
Having a target audience means you can personalize your messaging and deliver the best possible customer experience. For real estate agents, that means the difference between chasing leads and building a brand that thrives on word of mouth.
If you’re looking to make connections in the zip codes you serve, consider not only targeting by address, but also specializing in one of these three profitable niches.
Renters/First-Time Home Buyers
When someone is buying a home for the first time, there are many reasons they’ll benefit from the services of an agent. That’s why you’ll want to brand yourself as the local expert who can guide them through what could otherwise be a long and stressful process. Use a variety of farming methods like Facebook ads, direct mail, and email newsletters to offer value to this coveted target group.
Many of the people you’ll be marketing to believe homeownership is unattainable for them, and it’s your job to convince them otherwise. Offer information about minimum down payments (and what a mortgage might look like in their area). Go a step further by providing details of special programs meant to assist first-time buyers.
Beyond that, it’s a good idea to sell first-time buyers on homeownership as a way to build equity, rather than simply giving away thousands of dollars each year to a landlord. By doing this, you’re making a strong case for buying a home while using your expertise to build trust with these potential buyers.
One of the best things about working with first-time buyers is that they’ll likely have friends and relatives who could also use your services. Keep the relationship going long after the sale to leverage these connections for referrals—and, when the time eventually comes, to help them sell their starter homes and buy new ones.
On the other end of the spectrum, you could choose to work with homeowners who have already built quite a bit of equity and would like nothing more than to simplify their lives.
Retirees frequently need the help of a qualified agent to sell their houses and relocate to a property that’s smaller and more manageable (like a condo or a townhome). If you can learn to navigate the specifics of this situation—juggling multiple transactions while servicing a clientele that might prefer phone calls and in-person meetings to emails and texts—you’ll have the chance to build a lasting, profitable business as a specialist.
When you’re targeting retirees, prioritize direct mail options like postcards over electronic communications. Include useful information, such as the recent sale prices of other homes in the neighborhood. This will get your farming prospects thinking about downsizing, all while branding you as a trusted resource.
Luxury listings aren’t for everybody. But for the right agents, they can be the ticket to a lasting, profitable business.
The reason why luxury listings aren’t for everyone is because when you’re dealing with high-end homes, it can take a little longer to attract a qualified buyer. The upside is that just a handful of luxury listings can be enough to sustain your business for the entire year.
Of course, not everyone will be ready to sell (or buy) these homes. After all, many of the more expensive properties in your farm may have been custom-built or upgraded in significant ways. That means turnover rates are typically a little bit lower. Before you choose to farm in a zip code full of such properties, you’ll want to check in with the MLS to see how often homes in the area typically go up for sale.
Once you’ve decided for certain that you want to target these luxury listings, begin sending regular communications to all the qualifying homes in your farm every month. In addition to postcards, you might want to spend a little extra and send out limited copies of your branded magazine from ReminderMedia to select clients. Sure, this is a bit more expensive than other farming methods, but the reward can be great.
Good news: if you’re already a ReminderMedia customer, you can start sending our Print on Demand postcards. In addition to dozens of high-quality designs, you have a ton of options for targeting by demographics and interests. That means you can get your messaging out to the people you’re really interested in working with.
Not a ReminderMedia customer? You can still take advantage of our targeting options by purchasing a list directly from us. Click here to learn more.