I sold a condo in an area I don’t specialize in. We had a hiccup in the closing because the seller should have disclosed something about the HOA which I should have known, had I been familiar with this area. Ooopsey!
And there is one subject I love talking about related to this that my business partner and I were discussing today. It’s one thing we both agree on is a huge mistake we made in our business.
We never developed a niche.
We sell $5 million properties and $700,000 properties in San Francisco. We sell multi-unit buildings and we sell condos and homes. We sell all over SF, not just in one area. We even prided ourselves that we’ll sell anything in SF.
But we always chided ourselves for not niching down. Developing a niche in San Francisco that we could have really worked on.
If I had to do it again, I would picked one part of the City to work. Maybe picked one type of building in that part of the City, like high-rises in South Beach.
When you focus your efforts on a narrower subject, you can get better stronger results as opposed to just working everywhere.
So look at your Unleashed listing business. Where can you start to focus more? In one area? One type of building? One type of customer? Does it make sense for you change the way you do business now?
If it makes sense, start niching down into a niche you feel great about, focusing your energy there.
Just remember, it’s the earth’s massive pressure and heat that it puts in a specific area of carbon that makes diamonds.
Go find your diamond.