One of the biggest problems in real estate is that there is far too much competition. Thankfully, there are ways to set yourself apart and if you target your property to the right audience, you’ll get a surprising amount of attention. Some real estate agents decide to focus on housing for low-income families, some prefer to focus on luxurious mansions, and some even set their sights on first-time buyers by offering them a complete package solution.
If you’re currently struggling in the real estate market or if you’re thinking of getting started, then here are a couple of niche real estate gems that are worth exploring if you want to stand out.
While city houses are small, cramped and in high demand, countryside and rural locations are on the complete opposite end of the spectrum. If you’re looking to move to a much more secluded and quiet location, then there are mountain homes for sale, beachfront properties and even ranch conversions to consider adding to your portfolio. Many people, especially couples that are looking to retire soon, love the idea of getting a rural property because it offers them peace and quiet. Some families even prefer countryside properties due to the fresh air and distance from noise pollution. It does take a lot of specialisation to nail this type of property market, but it’s something that has the potential to grow very quickly.
If you have a lot of money to start your business or if you have contacts in other countries, then specialising in vacation homes might be your niche. If you live in an area that attracts a lot of tourism, then you might be lucky enough to purchase properties that appeal to rich holidaymakers who are looking to up the ante and boost their holiday experience. By marketing your properties to these wealthy individuals, you’ll get a lot of requests from overseas clients. Another great advantage to this market is that most of your clients will be internet-savvy and contact you through the web, meaning you might not need a physical office in order to sell homes.
Buying a home is no longer something that is exclusive to couples and families. Many single professionals are now investing in houses or apartments that are closer to their workplace in order to grow their career. A few things to look out for when targeting a professional is local amenities, a central location, fast internet speeds and distance to public transportation. If you have properties that tick all of these boxes, then switch gears and target your advertising towards professionals who are looking to advance their career.
Finding Your Own Niche
These are just three real estate gems that will require a bit of polishing on your part before they make you rich. However, it’s always a good idea to consider your current location in order to carve out your own niche. Don’t limit yourself to what the rest of the market is doing and remember that if you want to be successful, you have to be the one that takes initiative.