Ideas For Niche Marketing

by Brian Brady

Commercial Real Estate Finance Expert
Structured Debt and Equity
Licensed Real Estate Broker in AL, CA, and FL

Author website

Are you trying to be all things to all people?

I think a great career can be built on serving underserved but profitable niches. Russell Shaw’s post made me think of Allen Domb. I was a young securities broker, fresh out of college, when I met Allen Domb. He was serving as a “condo specialist” in downtown Philadelphia in 1990. Needless to say, here was a man with a plan (and vision). Nobody was buying condos in downtown Philly at the time and agents eschewed the property class.
He did four simple things:

1- He was a big fish in a small pond. He set himself up as the expert in a market.

2- He limited his expertise to one geographical market area and a specific property type.

3- He lived his mantra. There was no bigger cheerleader at that time for the downtown Philly condo than Allen Domb.

4- His staff was dedicated to his cause. Agents who worked for him or support staff all felt that they would be changing the Philadelphia skyline; they did.

Here are some underserved markets for Realtors or loan originators:

1- Manufactured Homes. Perhaps the fastest-growing property type in real estate.

2- Vacation properties as an investment Investors with an eye for a retirement home make great clients. You’d probably have to have the property management piece figured out but you’ll have some 20-30 potential buyers coming through each property each year.

3- Golf properties. You better know the lingo and live the life.

4- Historic Homes. You should have excellent resources for rehabs.

How about underserved markets by buyer-types?

1- Non-resident aliens. I know a Realtor who sells lots of property to Mexican Nationals in the US because she understands their needs.

2- Refugees. An agent in Phoenix I know specialized in Bosnian refugees in the late 90s. He has a steady stream of business from this dynamic group now.

3- Firefighters or Police Officers– some cities require that they live in the city limits and some offer tremendous financing programs. (Cop-Next-Door Program).

4- Teachers– same as firefighters or cops but an even more referral crazy group.

5- Professional Athletes– you’ll need to develop national contacts with sports agents but this group is ALWAYS on the move and they devour real estate

It is simple but hard work to dominate a particular market. Like Mr. Domb, it is imperative that you remain committed to that niche. You should be certain that the market you want to dominate is large enough to provide the income you expect. Finally, you should develop a business plan with specific goals and action items that lead you to niche domination in 3-5 years.

I wish you luck on your journey!