The days of being a generalist in real estate will fade with the twentieth century. The most successful agents and companies today have developed a strong, clear position in the market that allows them to leverage business. To do otherwise is costly in terms of marketing and offers no real differentiation to the consumer.

Discover What You Are Really Good At!

Life is too short to perfect your weaknesses. Yet, most agents try to service whatever business comes their way. They try to do it all. Ask yourself: "What segment of your market do you know best? What segment of the market knows you best?" These two questions begin to give you a focus for your business building.

Is there a particular neighborhood that you have been farming or is a good fit for you to farm? Do you know a type of home, such as historical, or new home construction, or vacation homes better than anyone else?

Your sphere of influence and your past customer and clients form your most lucrative potential for future business. What commonality exists with these people? Make a list for yourself of a profile of these people's needs. Such things as price range, area, type home, type of financing, type of ancillary services, etc.

What Do You Love?

You are unique and the interests and background you have give you special skills that no one else has. In business, the more we are enjoying ourselves, the easier it is attract business. People like to do business with upbeat, happy people. Combining what you enjoy and are interested in will attract business to you. Are you a tennis player or golfer? Do you like to read or cook? Do you ride a Harley? Any of these interests will bring you in contact with others who will find it easy to connect because of the shared interests. It may take some creativity, but you will find yourself naturally having fun!

For example, one agent I know who loves to read started a weekly book club in her neighborhood and was generating continued leads from it.

How obvious are you? Not enough to be obnoxious, but are you obvious enough for the people you know with these hobbies and interests to know you sell real estate? Is there a way you can increase the time you spend enjoying your hobby and increase your exposure. People have a higher trust level with others who they feel are like themselves.

Go Deep Rather Than Wide

Once you know what you are good at and what you enjoy, begin to really build your business services and marketing around your niche or niches. Having one strong niche as your focus is perhaps the easiest way, if there is enough marketshare in that niche to create the business volume you want. However, many times you will have 2 or 3 strong small niches, such as combining golf with buyers' agency or relocation specialties with new homes. This is a little more time consuming because you will find it necessary to develop specific marketing materials and programs for each, but it is batter to do this than not to have a focus at all.

Going deep into the niche involves some careful planning and strategizing to include strategic partners and services that fit the needs of the niche, but the time invested establishes you as an expert and gives you a positioning you can leverage. Develop a package of services and use partners to create value that no one else offers.

First, it differentiates you and makes you more valuable in the eyes of the customer. For instance, if you are working in the relocation market, the school information or information on corporate rentals or spouse job information can be part of a package that extends the services you have available outside the search for a home. You become indispensable.

Second, you build relationships with others who like will come across prospects to refer to you in the future. By funneling business to them, you will be the real estate person of choice when they have prospects. People like to do business with people who do business with them. As the Internet grows in importance in generating leads, those agents who are well-networked with links and strategic partners are already seeing a positive impact on their business.

Third, your marketing costs are reduced when you leverage you niche. Often reaching your potential clients will happen through personal contact, rather than advertising. If you are advertising to a niche, by focusing on where these people are and what they read or see, will allow you to do a small promotional campaign that is much less costly that the citywide advertising that’s been so common.

Going deep and positioning yourself as the Realtor of choice with a specific group will bring business more easily and be more fun. Take time every week to work on your business, not just work in it! Spend an afternoon brainstorming with a few others on your team or in your office how to best expand your reach and services. You’ll be glad you did!

Published: January 11, 1999

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Joeann Fossland ePRO, GRI, MCC, PMN, SRS is a dynamic, international speaker and business coach. She personally coaches a small number of extraordinary agents who want to leverage their production results and have a life they love! She was recognized as one of the 25 Most Influential Women in Real Estate in 2008 by Stephan Swanapoel. Subscribe to her free Tuesday Tips, attend Fossland's Forums, free monthly tele-seminars, and find out about classes delivered by email and personal coaching by visiting Joeann.com or email her at . You can also connect at Facebook and Twitter.