In real estate, the more you focus on becoming a subject matter expert, the easier it is to win business. Specializing in a certain aspect of real estate is also a great way to build a brand around your services.
Becoming a specialist at your brokerage takes time and extra work on top of the required continuing education. If you’re up for the challenge and have the necessary skills, one of the specialities below might be the niche that brings your business to the next level.
Resident Loan Aficionado
Seeing as 77% of real estate transactions involve a loan, being well-versed in the latest lending options is always appreciated around the office. Homebuyers (and fellow agents) have countless questions regarding the loan process and factors that affect interest rates. Being able to answer those questions on the fly will solidify your standing as a real estate professional.
If you’re the type that can make sense of economic matters and loves to crunch numbers, it’s a specialty that could suit your skill set.
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HUD Foreclosure Expert
The HUD home buying process isn’t like a standard transaction. There are special hoops to jump through and properties aren’t always listed on the MLS. Any little misstep can sink a HUD home deal, which is why experienced agents have an advantage. Patience is also key since HUD transactions tend to take longer.
Your brokerage will need to be registered in order to bid on HUD properties, and you’ll need to apply to become a HUD home selling agent.
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The Experienced Flipper
One of the most alluring aspects of real estate is the quick money flip. But it looks a lot easier on TV than it is in real life. Real estate agents that have flipped a few homes on their own are uniquely positioned to provide novice investors with sound advice. They know how to find homes that are below value and which fixes will bring their clients the best ROI.
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Green Homes Specialist
Agents that live a green lifestyle will naturally gravitate towards energy efficient homes. They’ll be able to spot the value-add upgrades and know what to test to gauge how green a home really is. Having the NAR Green Designation makes it easier to market to eco-conscious clients that are selling and buying.
Source: Unsplash @RawPixel
In-House Land Consultant
In Texas, home building is ramping back up. Before builders and homeowners can break ground, they’ve got to find land. That’s where the in-house land consultant comes into play. They understand the unique valuation factors, are up-to-date on building codes and can spot issues that may hinder development.
If you have a background in construction or development this could be the speciality that launches your real estate career. Becoming an Accredited Land Consultant (ALC) will give you an edge when developers need to find a real estate agent.
Senior real estate, military relocation and pricing strategy advisor are a few other specialties that are increasing in demand. Focus on the aspects of real estate that peak your interest and you’ll find the speciality that makes you an asset at the office.