Realtors, Controlling Your Niche Market means: You Go ALL IN!
Choices. When it comes down to success or failure, choosing the right path is essential.
In real estate sales, roughly 10-15% of the producers are considered top producers. Those are the elite, top real estate associates, who chose early in their career to go ALL IN.
Let me elaborate.
Many realtors claim to know what they're doing, thinking that being busy or doing a few deals a year makes them an expert. But the elite top producers know it takes a lot to really know what you're doing and master your niche.
Know your market is not just looking at a few homes or closing a few deals.
Here is what top producers do to master their craft and become the "Market Expert" and control their niche:
- Preview properties daily (previewing every new listing and every active listing within their market)
- Study the hot sheet 2-3 times daily (once is not enough). - Knowing exactly What's selling and what's not selling and why!
- Where are buyers coming from? - Which communities turn over most? - What's the bread and butter price range? - Which price range has a lot of inventory that's not moving? - What's the price range that's moving very quickly?
When you know your market, you can figure out what you should spend your time, money and resources on. Once you know everything there is to know about your market, you can then go ALL IN for the next 12 months, put all your efforts inside your business none stop! Act as if You're In it to win it. Spend 10,000 hours to master your craft! Own your niche for the next 10-20 years. You've got to know everything about your customers, their pain points, who else is winning in your market place, what they do, what commission they offer, what's their listing pitch etc.
Now the question is: Where are you on this subject?