After earning your license, you will be dwelling on this enormous real estate industry; this is the perfect time to decide the niche you’ll focus on!
But what really are these real estate niches? And which niche should you focus on?
Well, in this post I’m going to show you How to pick a real estate niche in 2021 and also provide some awesome real estate niche ideas.
First, we’ll go through the importance of picking a real estate niche.
Why should we pick a real estate niche?
Many successful real estate agents always choose a niche to become an expert at that specific area of this industry.
You need to know an area DEEPLY, so you’ll be able to charge more and become well-known in that specific niche.
How to pick a real estate niche?
Answer these questions to discover yourself and find your most suitable niche…
- What interests you the most in this industry? – What type of house do you like to work with?
- What type of clients do you like to work with? – Investors? First-time buyers? Quick sellers?
- Can you even handle those unfavorable houses?
- Do you like sustainable work or temporary work?
Still couldn’t decide yet? Check out these 10 amazing real estate niches ideas 2021:
The 10 Best Real Estate Niche Ideas For You To Consider (In 2021):
1) For Sale By Owner Properties – Best for new real estate agents
Since many agents don’t want to work with FSBOs, this is a relatively uncompetitive niche for you to consider as a new real estate agent.
Turning an FSBO into a listing is actually not that hard…
All you have to do is visit their house in person and ask them whether you can help with anything. Make sure to prepare current marketing stats and analysis (this will increase your credibility and professionalism) and qualified content streams for FSBOs
Tell them what you can help them and clarify things you would do in order to benefit them to obtain their trust!
2) Rental & Vacation Homes
If you are living close to a vacation area (a beach, a big city, etc.), try rental and vacation homes!
In this real estate niche, unlike selling a family home, you will need to have some additional skills like tax implications for second houses.
Buyers will be more interested in the resale, the rent, and taxes rather than fancy-looking houses and the surrounding circumstances.
3) Luxury homes – A very potential real estate niche
Just think of it: you sell a house that is worth 10 times other houses with the same commission. Isn’t that amazing?
However, this is indeed one of the most challenging niches.
Nowadays, the number of luxury homes is not much – really competitive.
And if there is, it will be listed immediately by well-established real estate agents with decades of experience.
Of course, it’s possible for you to get in, but it takes time. Try to approach those professionals and make friends with them. Soon, you will be able to get to their level.
You can participate in webinars, networking events, join clubs and projects, etc. Remember: Your Network Is Your Net Worth.
4) Flipped Properties
You can either flip your houses or work with investors who flip – buying a house at a cheaper price and then sell it for profit.
This is a potential niche 2021. If you like customizing and specializing houses, you can definitely try out this niche!
Team up with plumbers, electricians, painters, etc. to get ready to customize your houses for flipping.
5) Particular locations.
Apart from different types of homes and selling techniques, you can also specialize in specific areas.
Start by learning about the demographic…
- Where do millennials congregate in this town?
- Where are new schools constructed?
- Which specific areas of your city attract sportsmen, well-educated people, etc.?
- Where are the football fields or basketball fields?
- Which area has the most students?
Once you have a better understanding of your place, you can start thinking about which one you are interested in the most and which clients you like to serve.
Read more: New Real Estate Agent’s Guide: From 0 to 6 Figures Income
6) Architecturally Unique Houses
Don’t dismiss this with expensive and luxury homes.
If you are into history and ancient houses, this would be the perfect real estate niche for you!
There are millions of homes, specifically in the U.S, that have unique architecture and details that suit homebuyers’ interests.
Your client might probably find you and pay you any cost because of your unique house that they wouldn’t find anywhere else.
7) Big Cities
If you are too drained off by the crowds and traffic jams, you can consider a more peaceful area: rural a.k.a countryside.
There are many houses in the country in high demand: from ordinary houses located a mile from town to cabins in the remote forest.
To get into this real estate niche, you will need to know beyond the house itself: the watering system, mail delivery, internet connections, surrounding environments, neighborhoods, etc.
However, you can also try sub-urban areas – a harmony between the city and the countryside.
8) First-Time Homebuyers
If you like guiding and mentoring new buyers, this could be your perfect real estate niche as a new real estate agent!
These types of clients usually have little, or even zero experience in buying houses; they are usually inflated by horror stories on bad-decision houses and therefore very skeptical most of the time.
Your job is to guide them detailedly through the process, answer all of their irritating questions, and handle every objection a client could have.
Seems not very compelling, right? However, if you advance these people, you will have a client for life; they will totally trust you and introduce you to their friends and families, and probably make a lot of deals with you in the future!
9) Senior Homebuyers
Are they old? Yes. But they still buy houses.
Seniors who don’t matter much about appearance often prefer condos. Others who usually invite their families and friends usually buy houses.
Unlike Gen X and millennials, senior buyers prefer face-to-face interactions and communications. So don’t hesitate to call them, or do some cold callings to generate more leads!
10) Single Homebuyers
As researched, single female millennials are in the highest demand for buying houses.
And as I’ve said earlier, millennials prefer doing everything online, so make sure to work on digital marketing and be active on social networks to get their attention.
Focus on content marketing to attract enormous leads!
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So, it doesn’t matter which niche is high-demanding in today’s market world but rather your personal interest.
Remember: it’s way better to be well-known in your niche than knowing only the foundation of everything.
Be an expert in your real estate niche, and soon success will chase you!