What's Your Agency’s Niche?
Taking into account the fact that there is a great number of real estate agencies, it becomes obvious that establishing a reliable and prosperous agency requires creating a strong brand. This is not an easy task, and contrary to what many think, your brand does not equal your logo. Namely, the brand should represent the very core of your business. With that in mind, it’s clear that you should devote some time and effort to this, as it should serve to make you stand out from the crowd. It is true that it is easier said than done, but the first step toward your goal is to improve and become expert in something. In order to do that, you should always listen to your customers’ needs and try to remain at the top. With this said, you should first ask yourself what you want your agency to be known for. Again, it may sound like a simple question, but you may have some difficulties with finding an answer. Here are some ideas for you to consider: First, you can think about property type. In that sense, you can decide to deal with either new investments or existing properties. Or maybe you are that ambitious to choose both. If you opt for new developments, you will have an opportunity to win more property developer clients, but you will have to improve your ability to resolve issues and think analytically to predict realistic buyer interest. On the other hand, if you want your agency to deal with commercial property, you will need extensive knowledge about commercial business. Another thing to consider is area. You may want your market to be local only, and thus you may strive for being known as the expert in your local area. On the contrary, if you have more sales agents and unique selling point, you can definitely reach a wider area. The next element which may determine your agency’s niche is income. Namely, you should know what kind of buyers you want to attract. So, you may want your agency to be known as an expert in premium properties, which will, of course, determine the type of your customers. Finally, you should decide on your approach. In other words, if you want to attract more customers, you should think of having a friendly and honest approach. This approach will probably work better with customers who are not that much into the business and thus rely on you to guide them. If, on the other hand, you wish to deal with a different type of customers and want your agency to appear as result-focused, you may consider having a more aggressive approach. As you can see here, it is important to think about your target audience and then make a choice. Now that you know what you want your agency to be known for, you can move on to the next step and that is communicating your niche. Here are some tips on how to do it: First, you need to summarize your business and present it as an effective and powerful message. Then you need to show your target audience all the benefits they get as your customers. Think about every little detail that your agency has to offer, such as a higher success rate, more selective search, etc. Now you need to use both of these for advertising. Make sure that your potential customers can read these messages on your website or brochures. Again, think about your target audience and find the right means that can help your messages reach them. It is not only you but also your sales team who is responsible for communicating your agency’s niche. However, it is your job to check if they know how to verbally present the benefits of being your customer. Another important thing here is to always be on a lookout for opportunities which will make your agency more prominent among your target audience. The last piece of advice is to bear in mind that you can’t be good at everything and to everyone. So, decide on your niche wisely and find ways to communicate it.
