On our beach walks, we meet fishermen and women who fish. When we ask how do they determine where to cast their lines, their response is: " Look where the birds are in the distance! That is where the fish are!" And sure enough, as we look in the distance, we can see flocks of pelicans, cormorants and other sea birds enjoying their meal!
On a whale watch in the Santa Barbara channel, the naturalist mentioned that the whales on their migration to Alaska follow the dolphins to feed. Like the birds, the dolphins know were the fish are. And the moment the lookouts see the dolphins, they steer the boat in that direction! It is one way to spot the whales.
In real estate, take the time to become objective and analyze the sales statistics of your marketplace. Exactly what is selling and where? The first key is to discover where the fish are biting. Then go fishing there.
But, you better have a clear sense of how you can serve this faster paced market segment better than your competition. Your unique value proposition must be superior and it must be communicated explicitly through your personal or company brand.
We say, when you get your branding spot on you actually do not have to go fishing for prospects, the fish will start jumping in your boat. If you are able to clearly articulate your distinct promise of value to your target market sales should become irrelevant because you are succinctly letting them know, with certainty, that you can resolve their most pressing challenges.
While others are fighting for the prestige that comes with winning a fewer number of trophy listings, you could be out-thinking them by selling a higher volume of mid-range properties.
One of the mother and daughter teams we worked with had settled on working in a super exclusive area. When together we analyzed the market place, it was obvious that were rarely a fish in this market place. One or two homes a year sold there.
The hot market was elsewhere. It was in the mid-range condominiums, that were being built in the downtown area. The daughter was on the board of the city redevelopment group as the downtown area was being spiffed up. This became their fishing ground, and once in a while they listed one of the ultra luxury properties.
This price range, as a niche, is often overlooked by those vying for the big fish and can thus become under-served. Develop an outrageous and extraordinary promise of value. Bowl them over with service that makes you stand out and you will have a winning formula for success.