Knowing who your target client is the key to building any business. And real estate is no different. As a Realtor it's critical to realize, especially newbie's, that not everyone buying or selling a home is your target client. Spreading your marketing dollars too thin and not focusing on the clients you really want will leave you broke and without any business. I'll agree that is a view from the dark side, but it's a reality that must be addressed. Here are a few suggestions on finding and working your target market:
•1. Look around you, what are your interests? Just knowing this tells you where to look for others who may share similar interests. Join a club, special interest group or even an online group dedicated to that interest. You'll have fun and build relationships with new people.
•2. Think about where you spend most of your "off" time. I am sure there are others that spend their time there as well. Be friendly, build relationships and find ways to help others. You'd be surprised how many Realtors get business from these activities.
•3. Define your farm area. Mailing a small number of pieces on a regular basis to a small group will yield much higher results than a huge mailing to a large group. Try co-sponsoring a small neighborhood newsletter.
•4. Volunteer! It's that simple. Giving puts you in a position to get. Being where others are, building relationships with them and taking the focus off yourself and your business will set you up for success. At my company I encourage my employees to volunteer 4 hours a month, wherever they want on company paid time.
Relationships are really the way that real estate business is built. Most of us like to buy from those we feel comfortable with and more often, someone we like. Spend your dollars wisely on a focused group. Work on relationship building activities and most importantly, enjoy helping others.