Niche marketing in the field of luxury real estate is very much like online matchmaking and dating. The idea is to find your ideal clients. They are the ones who are looking for you, too, because of your extraordinary promise of value. It is time to start marketing like Cupid and find more matches!
In real estate, the challenge is to identify the uncontested or under served market niche that is right for you, a niche that you can dominate. The art of finding the best target market for you is your first step of could be called “Cupid Marketing”. Wasting your time and marketing dollars without having the right target could be called “Stupid Marketing”.
For some matchmaking and dating websites and apps like e-Harmony 2015 will be a very good year for revenue. But, the general category is getting extremely crowded. Singles have become fickle about which sites or apps they use because they have so many choices. Yet, if you were to interview them candidly, they would tell you they are frustrated about not finding their perfect match.
Does this sound a bit like the competitive landscape in your real estate marketplace? Without being presented with a sharply defined and clearly communicated value proposition that is the answer to your target market’s prayers they are clueless about which agent to choose.
Niche players have the best chance of making it. There are now matchmaking sites for people of the same religion, sexual preference, age group and even racial preference. This obviously narrows down the choices, but increases the likelihood of finding the right match.
We often hear real estate agents complain that, “there is not enough inventory out there”. This also mirrors the scarcity mentality that many singles have about finding Mr. or Ms. Right when they say, “all the good ones are taken”. Yet, if you were to see the overall stats in those “tight” markets you would still see that quite a few homes have sold.
You just need to gain a larger share of those homes that are selling to meet your personal financial goals. You need to be the dominant player in your niche! Become Cupid Marketer!
Written by Ron & Alexandra Seigel-
ABOUT: Napa Consultants, International is the leader in brand strategy for the luxury real estate industry. They work exclusively with professionals who are passionate about gaining or sustaining market leadership. With an expertise in personal branding, company branding, luxury real estate website design and social media marketing they help their clients become the breakaway brand in their marketplace.