The one thing I have learned from my time in real estate is that to be a true professional, you cannot be all things to all people. What I mean is that I truly believe that in order to be successful and give your clients your best, you have to be a specialist in a certain market area. Now an agent’s market area can literally be an area/city, or it can be a type of real estate. I know agents who specialize in Saint Paul, downtown Minneapolis condos, South of the River real estate, etc. But there are those of us that approach things a little differently.
As you can probably tell, the niche markets I have chosen consist of luxury real estate and historic homes, including waterfront/lakefront properties. I don’t really concentrate by city, instead choosing to specialize in properties on various lakes, and historic home districts in the Twin Cities. By limiting the markets I concentrate on, I am able to keep better track of market trends and homes for sale. If I was like most agents out there, who do anything they can get their hands on, my head would be spinning.
For sellers and buyers, it is important to select an agent who specializes in what you are looking for, especially if you are in the market for a home that is not an average home. For historic homes, go with an agent that knows about historic home construction and the costs that come along with an older home. For expensive homes, go with an agent that understands the luxury market, the types of loans that go with it, and the marketing funds to support such a listing. There are many agents who would love to list high end homes, but just don’t have the ability to sustain them.
While I do list and sell homes out side my niche, I don’t actively seek them out. People find me from my website, blogs, and past clients, and ask me to help them out. I’m all for selling homes, no matter the type, but choose to concentrate overall on a type of real estate. Next time you are looking for an agent, don’t forget to find out if that agent has a real estate speciality.