Every once in a while, I consider the idea of selling commercial real estate. Why not? Making a sale or 2 a year could help send the kids to college. After selling residential real estate for so long, maybe I need to spice it up as bit. A change of pace would be exciting. Then reality sets in. I could hurt somebody! I mean, their transaction, that is. So, as I stick with my niche, I began to think of how some agents become a jack-of-all trades, master of none, and plaster all those designations on their cards.
1. New homes specialists. Pretty specialized, for sure. You are more than likely an employee of the builder.
2. Relocation specialists. Some of these agents wait, wait wait, and expect leads from their broker. Kind of like the characters in Glengarry Glen Ross. Yuck.
3. Commerical and Industrial Real Estate. Some of these agents wait years to see a paycheck. Maybe I will do this when I don’t need to make a living.
4. Geographic Speciality. I once had an agent who told clients she served “Cape May to High Point”. My guess is that was when gas prices were $1.10 a gallon. Serving too far and wide an area limits your understanding of the communities, and can get an agent in hot water for non-discloure of issues which a local agent might have been aware of.
5. Senior Specialists. With the aging of our population, I think this is a way for agents to give credibility to their monthly mailer to the 55+ communities, asking for business.
6. Rentals. I know agents who do only rentals. God bless their patience. Lots of time, little pay.
7. Condo Specilaists. I guess this is ok if you live in a city, where you have alot of condos to sell. Years ago, I looked at real estate in Boston, and I walked with an agent from condo to condo. Cool! Really.
8. High End $pecilaists. My Dad worked for 36 years at General Motors in Ewing. He was a tool and die maker. In other words, we did not reside in Princeton or Beverly Hills. And that’s quite allright with me. I guess it’s never too late to expand my network.
9. First Time Buyers. While this can be very rewarding, I know it can be torturous as well. Buyers who communicate well are always appreciated.
10. Residential Resale. This is what I do. It’s all I do. and even though this post strayed from it’s original point, it is important that we pick a niche which has enough opportunity, but beware of choosing too many areas where you are an “expert”, for you surely which be the master of none.
What is your niche?