Sure, you can continue to throw stuff against the wall to see what sticks. It’s a common practice among real estate agents.
If you want to make more money, however, consider narrowing your focus to owning a specific real estate market or niche.
A real estate niche can be plucked from a number of categories. Take home type for example. According to a study by the folks at McKissock, a real estate education and professional development firm, agents who specialize in luxury homes are among the highest earners in the industry.
Aside from property type, there’s the location niche, type-of-client niche (first-time buyers, veterans, etc.), and others.
There are a lot of specialties from which to choose. Let’s take a look at the potential of older Americans, aka “empty nesters & baby boomers.”
Especially if you list and sell real estate in an area popular for retirees (Georgia, the Carolinas, and Florida, for instance), read on.
Why empty nesters & baby boomers?
Age 58 to 76 in 2022, older Americans spent much of the past two years reevaluating their priorities.
“We’re now seeing the ‘Great Retirement,’ a tsunami of Baby Boomers leaving the workforce,” according to Jack Kelly, the senior contributor at Forbes.com.
In fact, “3.2 million more of them retired in the third quarter of 2020 than did in the same quarter of 2019,” said Kathy Gurchiek with the Society for Human Resource Management (SHRM).
Most who want to sell, want to remain in close proximity to their adult children, but not necessarily in the same, large home in which they raised them.
Another reason to consider older Americans is they currently hold the most real estate wealth, owning 44% of homes in the U.S.
But, are they ready to sell?
Not all of them. Some became so freaked out over the inventory shortage that they decided to keep the home, renovate it, and age in place.
But, overall, those “… aged 65 to 73 … sold their homes at a higher rate than any other age group in 2020,” according to Natalie Campisi, a member of the Forbes Advisory staff.
And your association agrees. The 2021 National Association of REALTORS® “Home Buyers and Sellers Generational Trends Report” finds that baby boomers and empty-nesters make up the largest share of home sellers and second-largest share of buyers.
Millennials once again took the top spot in the buyers’ category.
Another area to give your attention is geographic farming
If you haven’t chosen a geographic farm to concentrate on yet, here are a few reasons to get started now,
- Provides strategic marketing – You’re centralizing your sales into one area. No more driving across town for a listing.
- Creates focus – You’re committing to becoming the neighborhood expert in a specific area.
- Contributes to future growth – You’re building toward the future instead of “just getting by” working on whatever comes your way.
- Brands you within a community – You’re branding yourself within a community and building relationships over time with the people who live there.
- Increases demand for your service – Sellers and buyers want to work with real estate agents who are experts in the community where they are buying and selling.
And, right now, Farm Campaigns are on sale 10% off the first month!
To Launch a Farm Campaign Hit the “CLICK HERE” link, below (from a desktop or laptop computer).
USE PROMO CODE: FARM10 to get 10% off the first month of a FARM Campaign.
Details: Take 10% off the first month of a FARM Campaign for a limited time (excluding tax, postage, data, EDDM. Sale ends at midnight Saturday, 12/18/21).
Please reach out to our support team at 866.405.3638 with questions or if there is anything we can do to help you with your success.
PLUS: When you have time…below are some helpful tools to support your success.
1. The Free 12 Month Done-For-You Strategic Marketing Plan
The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, niche Markets, geographic farming, sphere of influence, and past clients. – Click Here
2. The Free Interactive Real Estate Business Plan
The Free Interactive Real Estate Business Plan allows you to enter your business goals for this year and get a breakdown of how many prospects, listings, closing, and so on are needed to reach your goals. – Click Here
3. The Automated Way to Become a Neighborhood Brand
Become branded in a specific neighborhood with a 12X15 marketing piece sent automatically each month to an exclusive carrier route. Watch this video to learn more or Click Here.
4. The Free Real Estate Mailing List Guide
The Real Estate Mailing List Guide outlines the top tools for generating targeted prospecting lists including Baby Boomers, Empty Nesters, Investors, Lifestyle Interests, High-Income Renters, Move-Up Markets, and more. The Guide also defines done-for-you marketing campaigns to match these markets. –Click Here
5. The Become a Listing Legend Free eBook
Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here
6. The Free Online ROI Calculator
Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here
7. The Free Real Estate Marketing Guide “CRUSH IT”
The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted prospect list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here
While you’re online scheduling your Holiday postcards to go out, consider launching an annual Holiday scheduled campaign.