Market Niche Research...Go Deep to
Succeed
Armed with the most comprehensive
market niche research, you are well on your way to becoming an expert
in your market.
Good market niche research supports marketing
activities that
 What is your best tip for effectively researching your market niche? Click here to share it now.
Or...you can share it after reading the following material.
What You Need To Know About Your Niche
The more you know about your niche, the
better.
At the very least, you must know the following information
about your niche market:
- characteristics of individual
properties
- demographics of the neighborhood
residents
- features and amenities of the immediate
neighborhood
- nearby community facilities and
services
- municipal regulations and obligations
- other agents also targeting this niche
- other businesses that serve home-owners
in your niche
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'Official' Sources of Niche Market
Information
Government
 All levels of government collect a huge
amount of information. Much of this information, ranging from
national census data to local property assessments and tax
information, is available to the public in one form or another.
Gathering and analyzing
government-generated information is a critical component of your
market niche research.
Non-Government Organizations
These organizations and associations,
operate quite independently of government. Conservation authorities, chambers of
commerce, boards of trade and real estate boards or associations also
generate a large volume of information that can be helpful in
learning more about and understanding your niche market.
In many cases, the information from
these organizations, also leads to other useful sources of
information about your market.
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Online Market Niche Research
In addition to the 'official' sources
of, the Internet offers wide range of unofficial...but none-the-less
useful information.
Competitors
Check out the local information that
your competitors offer on their websites or blogs.
Not only will you benefit from their
research, you will know what standard you must meet in order to
effectively compete in your market.
Also, by assessing the
competition's market niche research, you will better understand the
standard that you must meet to compete effectively in this market
niche.
Other Businesses
What are other businesses in your area
saying about your market on their websites?
How will this influence your ability to
attract prospects and satisfy clients?
Social Media
All social media offer you the
opportunity to not only monitor what is happening in your market, but
also engage with others who are also interested in your market. You can simply read what other people's
posts and updates, comment on what they say, make your own comments
or ask questions.
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Doing your Own Market Niche Research
1. Conduct a survey in your niche 
- from your research of your market,
select a topic of interest
- go door-to-door, one neighborhood at a
time, to 'interview residents' about their opinions about this topic,
using a standard questionnaire
- ask residents if they would like a copy
of your e-report
- when residents say yes, collect their
contact data
2. Write a report about your findings
- post your report on your website, write
about it in your newsletter or blog
- distribute copies of your report to
local media, organizations and interested residents
- ask for feedback or comments on your
report
How Agents Succeed in Real Estate is an
example a report based on a survey as set out in item 1 above.
3. Network with others who serve the same clients you do
- contact people you would like to know
and ask for their thoughts and opinions about specific topics in your
market
4. Join & actively participate in 1-2
local business groups
5. Establish a network of referral
partners Top
Using Your Market Niche Research
 The report described above will be an
ideal stand-alone marketing communications tool...it will enhance
your personal brand and credibility.
You can also include reference to your
market research in such marketing communications tools as your:
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What Is Your Best Success Tip?
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