Cyclical markets wreak considerable havoc on some real estate specialization's, but equestrian properties are a notable exception. Despite the twists and turns of the market, horse-loving agents just keep trotting along at a very good pace.

A case in point is Laura Berman, an equestrian property specialist with Network Real Estate in Grass Valley, California. Berman considered specializing in equestrian properties when she started in real estate in 1986, but experienced agents convinced her the market was too narrow. Two years later, she heard a motivational speaker touting the do-what-you-love philosophy. She promptly decided to jump into the animal-friendly niche and revamped her entire marketing effort toward that goal. Last year, she closed 25 transactions, and she's on track for a similar number this year.

Agents who sell equestrian properties need a thorough grasp of some very technical information. "The needs are so specialized that very few people understand them, other than the people who have those needs. The biggest issues are the terrain and water. Different aspects of equestrian ownership have different needs. Dressage riders need special arenas. Trail riders need trail access," Berman explains. She acquired this knowledge first hand by training horses with her husband on their own property.

Specialized knowledge encompasses animal housing as well as terrain and riding-related issues. In fact, the barn usually is the first stop on a prospective buyer's visit to a horse or cow property. "I can usually tell who the manufacturer is on a barn. I put together packages for appraisers explaining how much fencing costs a square foot. A book that I keep with me has pictures of barns and how much they cost and lists of how much fencing costs," she says.

Keeping up with trends is important too. Berman says ranch buyers in her area are looking for larger properties these days. Not long ago, a property of 5-10 acres was considered adequate. Now people are becoming more appreciative of the value of land, and they are seeking 30-40 acres.

Berman's success is attributable to her niche marketing effort as well as her specialized knowledge and affection for animals and their owners. Her print advertisements, which include a photo of her wearing a memorable riding hat, appear regularly in equestrian, agricultural and ranch publications. "There are other agents in my area that do horse properties, but they don't market like I do," she notes.

"Berman's listings get extra exposure through the Select Equestrian Property Network, of which she is a founding member. Now in 18 states, this group of agents specializing in equestrian properties organizes an 800 referral hotline, a Web site and a listings exhibit booth that travels to horse shows around the country.

Choosing to specialize was a big step for Berman, but 10 years later, she's still convinced it was a wise decision. "I really think niche marketing is the answer to real estate," she says. "It's a way to set yourself apart from all those smiling faces in the real estate section of the newspaper. I should have done it when I first got the inkling too!"