(San Diego, CA)
I have never had a market defined by “geography” and was confused at why so many agents pinned themselves into such a “tight niche”.
One of the reasons was that I developed a system of marketing which included “1031-Tax-Deferred-Exchanges”.
When income properties were not selling in 2004, I had to reposition myself to keep the $$ coming in, and managing property became another niche market for me.
I also work with clients who have similar issues in this current market and that includes “short sales”, higher end rentals and relocation.
While it is important to be a “SPECIALIST” that doesn’t mean a narrowly defined geographical area.
Comments for Changing Your Market Niche
Feb 20, 2011
But Continue to Meet or Exceed Client Expectations
by: Larry Easto
As Deborah points out, geography is not the only factor for defining your niche market.
It’s important to be able to respond to changing market conditions.
Among other things this includes not narrowing you focus to the point that you limit your service areas.
By all means, shift your market niche when and as necessary…just ensure that you can meet or exceed client expectations in the new niche.
If you have ever changed market niches, what has your experience been?