It's no surprise that many of today's top performing brokers all have one thing in common - they have found a valuable niche market to focus their attention on. Of course there are exceptions, and several brokers still have a considerable amount of success dealing with broad markets in the residential and commercial realms. But when a broker can carve themselves out a niche to differentiate themselves from the pack, it makes success that much easier.
Just ask Peter Kinch, last year`s CMP Top 50 broker, who deals specifically with real estate investors. At the annual CAAMP expo in Toronto, he told the audience that finding a niche and becoming an expert in that field could be one of the most effective ways to grow your business.
"There weren't many players in the sandbox [of real estate investment] so I realized you could become an expert quickly," he said of the secret behind his success. "The clients value the info so much that they just want you to do the mortgage based on you being the source of that info."
That`s why CMP sought out the advice from several other successful brokers who have each found their own niche, and, not surprisingly, they agreed with Kinch`s reasoning. Simply becoming an expert in any given field, whether it's first time buyers, real estate investors, newly landed immigrants or farmers, allows you to provide your clients with the best full service package imaginable. If you have the answers to their sometimes very specific questions, then the chances they will refer one of their family members or friends to you grows that much more.
While all the niches listed on the following pages may not be for you, there are hundreds more out there just waiting to be tapped into. Hopefully the advice from the brokers who have been successful at finding their niches will help you on your journey to find yours
Next page: Niche - newly landed immigrants
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