In the hyper-competitive field of real estate, Brokers are working harder than ever to get listings and sales. Lindsay Dreyer, Broker/Owner of City Chic Real Estate in Washington DC is not one of them. By thinking like her ideal customer her business has doubled three years in a row.
While the majority of real estate agencies continue to rely on the decades-old advertising model, Dreyer is one of a new breed of tech-savvy Realtors who have embraced the idea of micro-specialization, or niche marketing. Niche marketing is the art of identifying your ideal customer, knowing what they like, where they hang out and how to speak their language. “We aren’t trying to be everything to everyone. We’re trying to service the clients we know we can make 100% happy. Those are the ones who are trying to live the savvy and hip lifestyle.” Their success is based on using technology to find homes more quickly, sell them faster and interact with clients in the most seamless way possible.
Realtors who fail to adapt to the new rules of marketing will find it more difficult to attract their ideal customers. Although it may seem that casting a wide net will yield more business, marketing to a more specific group has proven more effective than marketing to everyone. Every industry has subcategories of prospects that can be targeted.
The key is to find a segment of your market that is under-served and speak to them in a way they can relate. What are their common problems, wants and needs? A campaign that targets middle age divorcees is going to be very different from first time home buyers.
40-year marketing veteran Dan Kennedy agrees that defining your ideal target market is one of the keys to success in any business. “Be specific…The more you know about your target market, the better you can serve them and the more you can tailor your future campaigns, both online and offline PLUS…the more ideal customers you’ll attract…the more sales you’ll make…the more referrals you’ll receive.”
If your prospects live online that’s where you should be. “We were also very happy with City Chic’s electronic presence, as we were able to review any necessary documents and sign forms online, which is a huge plus.”
“…she also understands the mindset of the people that are buying and selling real estate in the area… And she also knows how to harness the power of the internet and social media in a way that a lazy, old-time established brokerage couldn’t possibly do.”
To learn more about City Chic Real Estate: http://www.citychicrealestate.com.