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Are The Riches In The Niches · The Real Estate Agent Playbook

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  You've all heard it
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  niche down and dominate
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  this is something that is said pretty often
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  in real estate trainings across the world
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  across the country
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  and the truth is
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  is that absolutely
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  if ninching down was that easy
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  and you could just find your niche
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  and absolutely dominate in that
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  it would be done by so many
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  and we wouldn't have the failure rate
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  so I'm gonna talk a little bit about this strategy
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  and some things you need to think about
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  when you're choosing a niche to really go after and
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  you know direct your marketing towards
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  because it's not all
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  you know strawberries and rainbows out there
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  so I can't wait to dive in stay tuned
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  what's up guys
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  Coach Kane here
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  real estate agent playbook
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  today we're going to talk about nicheing down
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  and this is something that you know
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  everybody says
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  new agents here
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  they talk all the time
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  I need to find my niche
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  I need to find my niche
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  the truth is that if you're a real estate agent
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  you're probably
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  going to take any transaction that comes your way
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  if you're newer
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  and that's probably okay
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  because we like those commission checks
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  and we like to serve people
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  so that's okay
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  if you're watching on YouTube
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  please like
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  comment subscribe
• 1:10
  if you're watching the podcast
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  share this with your favorite real estate agent
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  as always book a game plan
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  call with me
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  no matter what brokerage you're at
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  we can discuss your situation
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  there is no blueprint for success
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  there technically is no
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  globalized game plan
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  I can just hand you and have success in real estate
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  I love building your specific playbook
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  to help you win every single day of game
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  real estate
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  you're not gonna build your game the same way I did
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  however the beauty about real estate is
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  you can absolutely dominate no matter what
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  so book a call with me
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  would love to chat with you
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  alright so let's dive in
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  the riches are absolutely in the niches
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  however do all niches have riches
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  the truth is
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  that all agents kind of swarm to certain ones
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  whether it's luxury market
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  first time homebuyers
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  new construction
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  whatever the niches are
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  that are absolutely convertible and successful
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  people kind of rush to those
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  and then they become overcrowded
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  and so the truth is
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  is that when you have a niche
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  it's it's really about you and your interest
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  if you are just joining a niche to you know
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  get in because that's where everybody else is
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  or you know
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  if you focus on VA buyers
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  and because you know
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  that's the hot market
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  that's the best loan
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  that's no money down whatever
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  if you're running to that
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  and it's overcrowded
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  because that's the hot topic of the time
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  then you're gonna have issues
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  and you're gonna
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  be building in a niche that's overcrowded
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  the truth is
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  the word niche is supposed to be niche down
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  into a smaller group
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  where you are comfortable
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  in your comfort zone
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  so that you are yourself
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  and people are more attracted to you
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  when you are just yourself
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  and in your comfort zone
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  and comfortable in your own skin
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  so that's a super important point
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  and my last comment on that piece is
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  it's apparent that some agents
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  their niche is just the commission check
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  and it's all about getting the commission check
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  at the end if that is the
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  limit of what you serve in that niche
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  you're gonna struggle
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  next we're gonna talk a little bit about
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  you know the longevity of a niche
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  and I kind of see a niche is kind of a farming strategy
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  farming is a very old school real estate strategy
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  and if you are in the niche
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  just for that commission check
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  and that's kind of it
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  and that's where your kind of focus is
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  it's not gonna convert
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  just like sending out one mailer is not gonna convert
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  on a farming
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  campaign you're going to really struggle
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  if you're so focused on the end result
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  you're not giving back and you're not having events
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  and you're not creating
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  you're not living in that niche
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  right I have a very good friend who has
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  you know a pretty specific niche in the horse industry
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  right and she was talking about how
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  you know she's built a team out and she has some agents
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  and she had no
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  desire to have people that weren't horse people
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  right she talked about throwing barn parties
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  she talked about you know
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  being in the industry
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  she's talked about bringing the industry collective
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  together as a whole
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  that is what you need to do as a niche
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  so if your first time homebuyer is your niche
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  that's absolutely great
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  hopefully you're in that position or have succeeded
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  as a first time homebuyer
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  you have to have the lenders
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  you have to understand the programs
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  you have to understand the market
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  you have to know where to go
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  where those first time homebuyer kind of homes are
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  you also have to provide education along that
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  and maybe you have to give a little incentive
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  for first time homebuyers that everybody else isn't
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  because it's so crowded
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  and so if you pull those first time homebuyers honestly
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  first time homebuyers are one of my favorite groups
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  a lot of people say no
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  I don't want to work with them
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  I will work with the first time homebuyer
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  the first time
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  the second time third time
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  fourth time
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  the fifth time
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  because I know
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  as a first time homebuyer
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  if I make that experience
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  absolutely next level
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  and I'm continuing to pour into them
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  and I'm along with them on their journey
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  and continuing to educate them
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  whether that's the market
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  whether that's a new loan program
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  now that they've
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  you know bought their first home
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  and whether that's getting mortgage insurance
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  off of their loan
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  as you can see
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  there's an entire
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  sphere around the first time home buyer field
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  and if you're just in it to turn and burn
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  first time homebuyers
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  well you might as well be in a different arena
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  because the beauty of first time homebuyers is
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  first time homebuyers become lifelong clients
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  and they all right
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  a lot of first time homebuyers hang out in little pods
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  and the first person buys a home
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  then the next person
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  then the next person
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  so it's a huge referral source
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  yes it's a little more work
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  yes it's a little more competitive yes
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  you have to deal with affordability and credit issues
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  and you know
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  competitive offers
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  if you're a gov
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  loan or something like that
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  but if you can get them into a home
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  that is a life changing piece
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  and if you change someone's life
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  they're going to refer you more and more as you go
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  and this is a big one
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  back to the horse story
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  she had a team
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  and she said
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  I had somebody who wasn't a horse person
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  right and she said it was terrible
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  they didn't understand
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  they didn't know how to speak the language
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  they didn't want to get their boots muddy
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  when they're out looking at properties whatever
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  if you are not a person that's in that niche
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  whether it's courses
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  or sports or
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  you know anything
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  if you're in a niche
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  say it's dogs
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  say finding homes
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  yards for dogs
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  is kind of your niche
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  is a real estate agent
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  if you hate dogs
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  and you're scared of dogs
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  and you can't you know
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  live that life
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  and you're just doing it for
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  because someone told you you needed a niche
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  it's not gonna work
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  it's really when that passion is developed
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  and when things really come to fruition
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  that you're like
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  okay here we go
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  here's my niche
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  this is what I'm doing
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  and your the cool part is like
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  your niche is dogs
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  it's obvious where to go
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  you know prospect
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  go to the dog park
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  you know maybe partner with a veterinarian
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  you know so
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  that's the thing
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  is it can't just be one thing
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  hey I like dogs
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  I want to find yards for dogs
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  use me as your real estate agent
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  the more you get into a niche
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  the more you can connect other industries
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  and pour into their businesses
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  and in the meantime
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  they'll pull into yours
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  go to the dog events
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  go to whatever
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  dog food conferences
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  or whatever you can do
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  to dog food conferences
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  that's a good one
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  whatever you can do
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  to be a part of the industry
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  and live that life
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  and it's a lot easier
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  if you have the interest
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  from the get go
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  if you have a little experience in an industry
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  it's so much easier
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  to dive in and really expand
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  and so the riches are in the niches
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  but it's a lot of work to kind of
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  dive into that
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  and really fulfill
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  all the expectations
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  that you might have
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  from being in that industry
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  so here's the deal
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  you have to ask yourself a question or two here
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  and it is literally
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  and I ask this question
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  to all my agents
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  who join my organization right away
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  what do you do for fun
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  so what do you like to do
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  and once you have a couple things
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  where do people go
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  that like to do those same things
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  and then once you have that
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  mailed down
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  then you have to say
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  what's missing
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  and what can I provide
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  as a real estate agent
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  to the people in that industry
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  if you build
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  based on those three questions
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  and you build a whole business plan
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  about taking advantage
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  of the niche
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  of exotic animals
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  or you know
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  anything like that
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  you can build
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  your entire strategy
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  from asking yourself those three questions
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  and then starting to pour in
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  and starting to be present
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  in that niche
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  and starting to network
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  but the truth is
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  that should be pretty easy
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  because if you're already
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  interested in that
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  those are the things you do exactly
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  in your free time for fun
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  and if we can merge
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  our business
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  with what we do for fun
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  that's when life really changes
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  because we're doing things
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  that we're entertained by
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  and that we like to do
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  and that we're happy to do
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  while building a business
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  that can be
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  ultra successful
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  and once you dive in
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  and you're out
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  there in the industry
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  be consistent
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  what gets measured
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  gets managed
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  not the first time I've said this
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  but understand that okay
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  is this working
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  is there enough business
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  to go around here
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  am I laying a foundation
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  that eventually
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  will provide fruit
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  or is it just really hard
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  am I trying to fit a square
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  peg in a round hole
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  do I need to reevaluate
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  do I need to
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  maybe reevaluate
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  where I'm going
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  or the group I'm joining
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  or whatever
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  that's where
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  it really gets down to business
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  because people
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  chase niches
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  for so long
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  because somebody up on stage
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  told them to
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  find a niche
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  and go with it
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  well you have to
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  constantly evaluate
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  just like your business
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  it's not like
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  the secret sauce
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  where you're like oh
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  that's my niche
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  and everything comes easily
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  the more creative
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  and the more innovative you get
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  and the more you pour into other people
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  within that industry
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  the more it will come back to you
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  but you have to understand
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  that your time
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  is valuable
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  so measure that
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  how's it going
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  did I plan a first time
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  home buyer class
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  that flopped
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  why did it flop
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  did I not put enough planning into it
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  did I not have put
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  enough money into it
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  or is the topic
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  just boring
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  right and so
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  you have to
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  take a look at that
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  step back from a non bias
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  and say okay
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  what worked
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  what didn't work
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  why didn't this work
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  why did this work
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  and continue
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  to evolve your plan
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  it's not just checking a box
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  okay I'm in
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  the first time
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  homebuyer niche let's go
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  life's good
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  now I can go retire
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  that's not how it works
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  so continue
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  to constantly
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  work on your business
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  and this is something
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  that a lot of agents don't do
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  across the board
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  whether it's the finances
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  whether it's
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  you know your pillars
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  whether it's your social media
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  whether it's your YouTube channel
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  whatever it is
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  everything that gets measured
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  should get managed
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  and you should make adjustments as you go
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  to continue
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  to level up your business
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  alright that's all I got for today
• 10:43
  thank you so much
• 10:43
  for tuning in
• 10:44
  if you're listening
• 10:44
  on the podcast
• 10:45
  please share it
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  with your favorite
• 10:46
  real estate agent
• 10:47
  that needs to hear it
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  if you're watching on
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  YouTube like
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  comment subscribe
• 10:50
  you can also
• 10:51
  share it on there
• 10:52
  if this was
• 10:52
  really good
• 10:53
  in earth shattering
• 10:54
  and if you're interested
• 10:56
  in this video
• 10:56
  here I'll post
• 10:58
  it's all about
• 10:58
  the client journey
• 11:00
  and the hole
• 11:00
  in your business
• 11:01
  is probably
• 11:02
  your client
• 11:02
  journey thanks
• 11:03
  have a good day bye bye