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It's a big world out there! There are nearly 2.5 million people in the three counties of Hudson (675,000), Bergen (925,000) and Essex (800,000) in New Jersey and there's no way you can be all things to all people. Many top agents find that they have the most success when they narrow their target market.

In other words, top real estate agents find their niche.
There is a saying in sales that "There are riches in the niches" because high producing realtors grow their business by being very focused.

What is a "niche"?

A niche is a small, specific and well-defined segment of the population. Another way to think of it is a "specialization". One of the benefits of finding your niche is that you can focus your marketing, networking and relationship building on a smaller group. The more narrow your niche, the more expertise you can develop and demonstrate to potential customers. There will be plenty of opportunities to receive leads from outside of your niche as well but it gives you more credibility when you have a specialty. As an example, isn't it more comforting to go to a cardiologist for your heart than a general practice doctor? 

Benefits of finding your niche as a real estate agent

1. Stand out from your competition
There is A LOT of competition in real estate. What makes you different. When you try to be all things to all people, you usually end up being nothing to anybody. What do you want to be known for?

2. Focus your networking
Go to the events that are within your niche. If it is a geographic niche than stay within your geography. For example, your niche might be Kearny, NJ. Look for meetups, Chamber of Commerce, Rotary, networking clubs and other events in Kearny, NJ. If your niche focuses on a specific group of people, look for opportunities to network with those people. Maybe your niche is teachers or lawyers or young professionals in the finance industry. You can find networking events for each of these groups.

3. Focus your marketing efforts
Marketing becomes easier when you can really understand who your ideal client is. This solid understanding will allow you to find opportunities for marketing. How old are they? How much money do they make? Where do they live? What are their biggest concerns? What are their dreams and aspirations? Your marketing plan will transform when you realize that your ideal customer is a 32-year-old husband and his expecting wife, whose number one priority is trading their trendy condo in the city for a quiet home in the suburbs… just in time for the baby's arrival. Once you truly understand your niche, your marketing will no longer try to appeal to all audiences but to your specific audience. There is a whole field called niche marketing.

4. You can become a knowledgeable resource and expert
It is really hard to know all of the schools in multiple towns. When you narrow your target, or your niche, to just a few towns you can retain a lot more information on their elementary, middle and high schools. If your niche is multi-family investment units, you can learn a lot about rental rates, zoning regulations, and local taxes. In short, you will be more trusted by your clients because of the depth of your knowledge.

5. Target your online marketing
Facebook ads and Zillow advertising become more and more effective the smaller your target. Search engines have complicated formulas and algorithms for ranking search results. You will have a hard time ranking high for "Hudson County Real Estate". You will have better results with a more narrowly focused keyword such as "Hoboken Brownstones" or "Duplex in Kearny, NJ".

Joseph James Real Estate is a premiere boutique real estate agency established in Kearny, NJ. The agency's niche is successful realtor professionals who want to earn more money through an industry high 95/5 commission split. Are you interested in keeping more of the commissions that you earn? Contact Joseph James today.

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