Market Niches Can Equal Agent Riches: The Long-Tail in Online Marketing for Realtors
by Scott Pierce
The long-tail in online marketing for realtors
In Real Estate, as in much of business, being all things to all people, is an impossible business model to chase.
The Long and Short of It
In Business ‘The Long Tail’ concept states that you can sell more ‘less popular’ items than you can of popular items. A common example is that Netflix rents more niche movies than popular ones.
So what does this mean to real estate agents? That you can make a business in marketing niche markets and that it can be often times more profitable.
The #1 real estate related website in the United States is Realtor.com. Knowing the Google keywords people use to find Realtor.com will tell you a lot about online consumer behavior and will give you a lot to think about in your own online lead generation efforts as they relate to niche markets.
The Google keywords used most often to find Realtor.com are “Homes for Sale” and the location in which they are searching.
Why is this? Because people instinctively begin their home buying process by searching properties’ to get a sense of the market.
Realtor.com, Trulia, Zillow, Real Estate Companies etc ALL allow online consumers to search for almost all ‘Homes for Sale’ throughout the country.
So how are most agents trying to generate leads with their websites? By offering a small subset of capabilities and nothing unique or otherwise beneficial to people. In other words, agents are trying to compete with Realtor.com, Trulia, Zillow with the proverbial ‘one arm tied behind their back.’
Good luck with that.
Trying to compete head-to-head with a company with millions of dollars to spend on technology and marketing is a losing proposition!!
The Good and The Bad
The Irony is that local real estate agents are in the best position to capitalize on their local market knowledge, but they typically do the worst job at capitalizing this knowledge online.
Local agents know what local buyers and sellers are searching for (in real time! A showing is the most up-to-date search result and one that has immediate feedback capabilities….something rarely accomplished on a computer).