The thing that makes American business much more successful than other business in the world can come down to one factor: “specialization.”
In general, “specialists” are rewarded more so than “generalists.” Following my cake analogy theme, let’s say you where shopping for your Wedding Cake. Would you go to the supermarket baker? What’s wrong with that? They bake a lot of cakes and they know how to do it all; afterall, they make a killer Spider Man cake for your nephew’s birthday!
The supermarket baker is a generalist. He/she knows how to make cakes; but what you need is a “cake boss” who specializes in Wedding Cakes, right? Now think of how much a baker vs a wedding cake decorator charges? There’s a a clear price and quality difference.
Real estate is very similar. You can be a generalist: you know all markets, multi-million dollar listing and fixer-uppers, all transaction types, investments, flipping, long-term, short-term, short-sale, REO, online, offline… you get the picture. OR, you can be specialist, niche. Someone who is exclusively selling homes in West LA catering to executive level clients looking to buy homes in the $800k-$1.2M range.
If less is more then niche is Big!
I hope this helps!
PS: Many of our Turn-Key Flyer customer boutique agents who specialize in highly targeted market segments. To market themselves as a “specialist” they use our “Around the Neighborhood” brochure flyer and the “Homes Near You Specialist Flyer.” It’s a great idea to make these in addition to your regular listing or open house flyer. It gives buyers/sellers a sense that you really do know the area. The templates you see below are part of our Specialist Package. Examples are below (Bigger images here):