Real estate is constant, especially in cities. With high-rise buildings filled with hundreds of apartments to townhouses lining city streets, agents in these urban markets have to be on top of their game, especially amongst a sea of competition.
But how can real estate professionals stand out in populated cities with thousands of agents and brokerages? Make this sector your niche! By showcasing to clients and leads that you are the expert, you will set yourself up to succeed in these markets. Because so many buyers and sellers start their journey online, especially on social media when looking for the right agent, it is crucial for agents to know how to break into this niche market, and how to market themselves for success.
Understanding your urban market and establishing your niche
Cities come in all different shapes and sizes. Some have populations in the millions, while some are located on an island. But at the end of the day, when homebuyers look to move to a city, they are likely expecting certain amenities and lifestyles that you, as the expert, should highlight. Understanding and meeting these expectations begins with a knowledge of the geographical location. Whether you’re marketing in New York City, Los Angeles or Miami, it’s important to be aware of living costs, utility costs, home prices and other financial data. The more information you can provide, especially when it comes to costs, the more potential leads and clients can trust you and your experience in this niche.
Once you have done your research and fully understand your urban market, as well as your clients’ wants and needs, it’s time to show off your knowledge. Whether you include information in your listing descriptions or post about your market (lifestyle features, parks, restaurants, school districts, etc.) on social media, potential clients and leads will see that you are the local expert and will want to work with you over another agent or brokerage.
Showcasing your urban niche knowledge through marketing
When it comes to social media, your options for highlighting your niche are essentially endless. Most cities and urban areas have plenty of amenities, which is what may drive one to purchase a home in the area. Shine a light on local businesses, from grocery stores and salons to home improvement stores and trade companies such as electricians, landscapers and more. Not only will this provide necessary information to leads looking to move to the area, but it will also showcase your business relationships, knowledge of the area and the businesses that residents rely on.
If there are any local events, especially those that give back to the community, be sure to post about them across your social channels. If possible, consider sponsoring these events, especially if this is a niche market that you are already an expert in, or one that you are looking to break into. If, for example, you are serving families in your urban market, highlight school districts and/or other educational options, as well as family-friendly activities in the area. If your audience is mostly made up of young, single homebuyers, highlight restaurants and shops in the area. If you have clients who have pets, such as dogs, highlight local dog parks and groomers in the area. The more you know, and the more you can help leads envision a lifestyle in the area where they plan to move, the more clients will come to depend on you as their local expert.
In addition to showcasing the overall area and market, it is important for your urban niche to have an understanding of the market data, especially cost of living. Of course, any real estate agent should have market knowledge, but when you hone in on a niche, especially one that covers a larger landscape, remember that you need to be the expert. Compare home and rental costs in the area to determine price points so that you can then educate clients. Explore common and diverse concerns, circumstances, objections, sensibilities and trends of other buyers in the area. The ability to cater to your leads and the needs of your clients will play into this niche even more.
Urban markets are growing rapidly all across the country. Though the pandemic did drive some out of cities, many stayed, and even more are transitioning back into these markets. In order to stand out amongst the sea of competition in these urban markets, it’s vital for agents and brokerages alike to bring something extra to the table. Curating this urban niche will not only help you gain new leads and clients, but it will also help you and your business grow and break out as the urban and city market expert. Check out some social media post examples below to inspire your urban niche marketing efforts!