| Many agents are reluctant to position themselves as | | | | - Ranch or farm properties |
| specialists, for fear of limiting their earning potential. A | | | | - Upscale and luxury real estate |
| broad range of potential customers is both a blessing | | | | - Mountain views |
| and a curse for real estate agents. If you're a | | | | - Active retirement communities |
| generalist, nearly everyone you meet is a potential | | | | Bad agent specializations: |
| client. On the other, being all things to all people can | | | | - Agent with obvious toupee |
| lead to unfocused business plans and lackluster | | | | - Agent still using high school yearbooks photo |
| results. | | | | - Agent whose car always needs vacuuming |
| In reality, there is little risk in foregoing commissions | | | | - The Bad Haircut agent |
| you don't have a reasonable chance to earn. Few | | | | - The agent who repeats lines from Sienfeld episodes |
| agents have the time and resources to market to a | | | | - Agent who never wears socks |
| very broad audience, so choosing a professional niche | | | | - The too-much-perfume agent |
| in which you can excel makes sense. In addition to | | | | - The agent who talks about her cats |
| helping you differentiate your services from other | | | | - The really irritable agent |
| real estate practitioners, you can build credibility and | | | | - Agent who also sells Amway and Herbalife |
| focused expertise. Better yet, as you you develop a | | | | - The agent who could use a shave |
| reputation for a specific area of expertise, you are | | | | - Agent with a comb-over |
| actively reducing competition for your services. | | | | - Agent who apparently doesn't own an iron |
| Now all that's left is choosing a highly profitable niche. | | | | Obviously, some niches are better than others, and |
| To help you get started, here are some suggestions | | | | there are still plenty of real estate agents out there |
| for highly lucrative niches, and also some to avoid: | | | | trying to please everyone. The bottom line: Prospects |
| Good agent specializations: | | | | today are not looking for a salesperson, they are |
| - Homes near top-rated schools | | | | looking for a trusted advisor to guide them through |
| - Equestrian properties | | | | important financial decisions and complex transactions. |
| - Income-producing properties | | | | Does your professional niche brand you as a a real |
| - Waterfront or beachfront properties | | | | estate expert, or someone who sells real estate? As |
| - Townhomes | | | | author and sales consultant John Graham says, it's |
| - Vacation homes | | | | better to be known for knowing something, not just |
| - Historic properties | | | | selling something. |
| - Green or energy-efficient homes | | | | |