Realtors who specialize in a niche market create a road map for their career. It makes many decisions easier – where to market, how to market, etc.
NEW YORK – A specialization is one way for real estate professionals to stand out.
Ben Caballero, founder and CEO of HomesUSA.com, works directly with home builders to sell new homes. RealTrends has also named him the No. 1 real estate agent in the country based on transaction sides and sales volume every year since 2013.
“[Real estate] specialization is just like having a road map,” says Caballero. “If you can’t define what you’re wanting to do in the real estate business and you’re going to take it as it comes to you, you’re just driving without a destination.”
Prior to embarking on a specialization, however, agents need to take time to learn the ins and outs of their market, refine their craft, understand trends and data, and build a network.
They should also consider their passion when determining and developing a specialization. Potential specialization paths can include sports and entertainment real estate, new condo developments, restaurant properties, single-family rentals, ranches and land. Caballero estimates the real estate industry has at least 45 specializations.
Jordan Stuart, director of Sports and Entertainment at Keller Williams, says a mentor can be a helpful resource and someone to help connect agents to more people in the industry.
Agents who specialize say it’s essential for real estate pros to conduct research when selecting an area of specialization, including reading books by entrepreneurs, performing online research, and talking to industry insiders.
Kofi Nartey, founder and CEO of Globl Red, says “awareness around the brand” is essential because “that’s where your marketing comes into play, your outreach comes into play.”
Source: Inman (01/28/22) Dickerson, Lillian
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