Focus on a Niche

Handshaking man

According to a recent study conducted by Real Estate Express, agents who focus on a specialty make significantly more money than general practitioners.

How much more?

Real Estate Agents who report, “I don’t have a specialty,” have an average income of $30K/year.

Real Estate Agents who report, “I have a specialty,” have an average income of $71K – $111K/year.

Some typical specialties include:

First Time Home Buyers
A specific area of your city
Incoming BUYERS from other States
First Responders
Affordable Housing
Short Sales/Foreclosures
Military
Condos
Multi-family Properties
Investment Properties
Second Homes
Eco-Friendly Homes
Foreign Investors

As I speak with many of you – when you narrow your focus – you say, “well, Mark, I’ll miss the opportunity elsewhere!?” Exactly… have you ever heard the quote:

“When you chase two rabbits, you will not catch either one.”

Less is more! Being an expert is rewarded with higher income. Add more value and you will be sought out for your expertise. Anyone can be a generalist, very few can be an expert.

What will you be an expert in?

#WinTheDay

About the Author
Mark is the Chief Executive Officer of JP & Associates, a rapidly growing full-service real estate brokerage. He is focused primarily on expansion and productivity. He has invested nearly 20 years in understanding the inner workings of high performing real estate agents, teams, managers, and leaders in major markets across the world. In prior assignments, he served as a Business Coach, in progressive leadership capacities for the 5th largest US-based real estate brokerage firm; in sales and customer marketing leadership capacities for a major consumer goods company; and served a stint in the US Army, Medical Service Corp. He was later recalled to active duty during the desert storm campaign.

Mark is a father of 3, lifelong learner, Spartan and adventure athlete. He earned his MBA from California State University and a Behavioral Change Certification from the National Association of Sports Medicine. A number of years ago he decided to make "One Helluva Move" and not play it safe, and since then in his spare time he has climbed the world’s tallest free-standing mountain - Kilimanjaro; completed the Spartan tri-fecta, the LA Marathon and the world-famous Iowa border to border RABGRAI ride among other crazy adventures.