"Thank you everyone! My continuing education course recommends finding a niche right away, but just getting started it's hard to know which one would be best. Sounds like I need to focus on getting contacts first!"
McCallister, the agents who have responded have provided excellent suggestions. Where the wheels come off the wagon is contained situations like the quote above. "Find a niche!" You've got to be kidding!!
As a real estate agent you do understand YOU ARE A SMALL BUSINESS OWNER! One of the 53% who will pay the taxes spent by the 47% (irresistible) Anyone considering opening a small business will do market research. The will know if they are opening a bagel shop, sneaker store or doggie day care, who lives in the area, what they are willing to pay, how to reach these customers and how many sales they need to pay their bills as well as their cost for delivering goods and services.
Imagine yourself as the owner of the new 'McCallister Doggine Day Care' located 1/4 mile from 2500 citizens living in the nearby condos. A gold mine for sure.
Opps, that are all 55+ condos and many of them are not working and have no need of a doggie day care? Opps,,,,they are 'no pet' communities. But they DO like morning coffee and bagels. Opps.
This IS how most folks start their real estate career. 95% never see their 2nd anniversary! Practicing 'accidental' real estate is a BAD idea.
This is what you MUST do.
#1. Market Analysis, List top three products and the top three segments within each
#2. What is the lowest cost way to reach a sufficient population to get your first 10 transactions.
#3. What resources do you currently have to leverage.
In may area of Florida this data may look like 5% mobility, SFH, 150-350, DRM, 400 in contact list.
Now, create a strategy with exceptional copy. The Niche market will find you.
The fastest track to success if connecting with an organization who historic record shows an exceptional number of transactions. These folks know what they are doing and the numbers, not the glossies, support the claim. Then just do what they tell you to do. It;s truly not rocket science. Don't allow your IDWDT to sabotage your progress.
Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL