When you first obtain your license to sell homes in South Carolina, you’ll likely be so excited that you just want to “sell something – anything.” As time passes, however, and you have a few closings under your belt and become more experienced in the industry, you might decide to refine your sales plan so that a specific niche is the central focus.
When you focus your business within a specific niche, it can help maximize your time and efforts. It also helps you establish your brand. The more deals you close within your niche, the more you become known as a “go-to” agent in your region to serve clientele with similar needs. There are several categories in real estate that can be top-earning arenas for motivated sales agents.
Real estate niches categorized by property type
As you build your brand and establish yourself as a real estate agent within a particular niche, you might want to consider focusing on a specific property type. The following list shows the most common types of property included in this niche:
- Commercial properties
- Historical homes
- Single-family residences
- Condominiums
In addition to the property types mentioned here, there are several others that can be included in this niche. A logical question to ask yourself ahead of time is whether any of these property types are plentiful in your area. You’ll also want to do some research to determine how often the properties within your chosen category are going up for sale.
You can choose real estate niches by types of buyers
You might want to focus your real estate sales business on a specific type of client, such as first-time buyers or luxury home buyers. Other categories within this niche include real estate investors and commercial property buyers. The latter is often comprised of small business owners in your community who are seeking a place to run their operations.
You can also choose a niche as a listing agent
Working within a certain niche in real estate isn’t just for buyers’ agents. As a listing agent, you may want to gear your services toward a specific type of seller, such as those listed here:
- People who are home-flippers for a living.
- Investors who purchase homes in order to rent them to others.
- People selling their homes to offload assets.
Some listing agents also focus their efforts on sellers who are attempting FSBO (For Sale By Owner) sales. It’s not uncommon for FSBO sellers to eventually realize that hiring an agent would be a better way to go.
A real estate niche isn’t set in stone
If you choose to devote your time and efforts to a specific real estate niche, it doesn’t mean that you can’t generate leads or secure deals in other categories. It also doesn’t mean that you must continue focusing on a particular niche, especially if you determine that it isn’t as lucrative as you’d hoped it might be or you simply want to try your hand in another category.
One of the greatest benefits of earning a real estate license is the flexibility you gain with your new career. You are literally at the helm of your “real estate ship,” and you can adapt and adjust your schedule, your budget or your focus to meet your immediate needs and long-term business goals.