Every real estate agent wants to associate with a brokerage that is going to enhance their career. In addition, many agents struggle with the question of whether they should specialize in a niche market. In small markets, it may not be possible to specialize. But, the evidence suggests that the most effective approach to growing a Chicago real estate career is to join a niche brokerage.
Why You Need a Real Estate Niche
It’s tough to be everything to everyone. However, that’s what you’re trying to do if you’re a Chicago real estate generalist. Real estate is a complex business, which makes it an excellent target for specialization. It’s virtually impossible to know everything there is to know about residential, commercial and investment real estate to name just a few of the different types of real estate transactions.
Besides that, real estate is highly competitive. If you wanted to do estate planning, would you hire a criminal lawyer or a lawyer who doesn’t specialize in estate planning? The answer to that question is usually “No.” The same holds true in real estate. If someone is looking for investment property in Chicago, for example, they’re much more likely to hire an agent who knows that environment inside and out. Working in a niche gives you a competitive edge.
Real estate agents receive a number of benefits when they join a niche real estate brokerage.
Niche Brokerages Can Offer Incomparable Client Service
Real estate clients are becoming more real estate savvy, and are expecting outstanding service. In a niche brokerage, you can focus your efforts on providing the type of service that will keep clients coming back. You’ll have detailed knowledge of the market and more connections than an agent who doesn’t specialize.
Niche Brokerages Become Influential Players in the Market
When you focus on a niche, you make better use of your time. You don’t try to run after every lead that comes your way. You have the luxury of focusing on a specific type of buyer and seller. As a result, you and your brokerage become influential in the market because you focus on developing relationships with people who are part of the community in your chosen specialty.
In other words, you and all the brokers you work with have spent years becoming outstanding networkers in the part of the industry where you work. That type of community building can only lead to developing influence in a specific Chicago real estate niche. While specializing means that you may turn down a random lead that comes your way, the ease with which you’ll acquire new clients far outweighs that loss.
Niche Brokerages Make Transactions Easier
An influential niche brokerage will offer agents access to the best opportunities. Additionally, selling property is simplified because a niche brokerage has vetted networks of active real estate buyers looking for opportunities.
Niche Brokerages Can Improve an Agent’s Revenue Generation
An established niche brokerage has had time to nurture a network that generates leads on a regular basis. Agents benefit from the need for the brokerage to provide leads to agents in order to maintain an outstanding level of service. As a result, agents can have more influence on deciding the direction of the firm.
Root Realty – A Premier Niche Brokerage Focusing on Investment Property
Root Realty was established in 1983 and is focused on delivering unparalleled service to Chicago real estate investors and their tenants. We have established our reputation through years of being trusted advisors who specialize in residential, multifamily and mixed-use real estate.
Our relationship-based philosophy helps us to drive optimal asset performance, and we continue to innovate by adopting cutting-edge technology that benefits both our clients and residents.
If you’re an agent or broker looking for a new career opportunity, visit the Root Realty career page. We’re always looking for talented and dedicated brokers to join our team.
If you’re ready to invest in Chicago real estate, call us at 773-348-8080 or send an email. We’ll find the right opportunity and help you sell when the time is right.
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