Do you know what is the common mistake that you are making in your business? It is when you don’t understand what a niche is. The riches are in the niches but niching is one of the most contrarian approaches to business, it doesn't make sense that you would scale faster by focusing on fewer potential customers and excluding potential opportunities. And yet, in almost every scenario, that's actually exactly what happens. That is why for today’s episode, we are going to talk about what niche is and it being the most confusing and underrated concept in all the business world, not just real estate, but business period.

“Niche marketing is a marathon of sprints; it is not just a sprint. It is not about who crosses the finish line first, it is about who can cross the finish line consistently for a sustained period of time by building up an engine that runs.”

• What is a niche and how does niching increases confidence
• Don’t compare your Day 1 to someone’s Day 5000
• Using interviewing to take your target customer

In today's episode, we're going to talk about the perspective of a broker and specifically how to plot a course for success, how to understand where you're at what you need to do next, and really drive your business forward as it grows, matures, scales and expands. And, you know, we always start with kind of the what is the core problem, the why what is the frustrations. And as a broker, some of those frustrations are pretty heavy. As far as like, hey, we bring on new agents, but it creates a giant mess. Just like if you think that a new agent is going to help expand your business. And in actuality, sometimes if you're not prepared, it actually slows you down. Or managing demand. And versus actual payback, being able to build an engine for leads for your agents, where you get the money back so you can reinvest it instead of it becoming just a big giant money pit. And finally, the frustration of how do I recruit new agents and keep them around? How do I make sure that they're not just leaving as a broker? You know, there are some things that you want, you want a smooth onboarding process, you want to be able to bring in an agent and know that from day one to day 90, they're up to speed, they know what they're doing and how they're doing it. You want a scalable demand engine, scalable, meaning that it's repeatable, it keeps going. It's not just a giant, money-sucking pit or time and energy pit. And last time, I think your last thing is you want a sticky team, both a team that attracts new team members, but also a team that retains them that keeps these agents around not just because you offer them the lowest percentage or something like that, but because you actually built real value in being a member of your team.

"But where it gets missed a lot of times of saying, but there's also the opposite of that of saying we want to build a better-rounded setup where I have agents who are great at marketing agents who are great at prospecting agents who are great at networking so that we have a more rounded team so that my team can learn from each other and those types of things that it is also a viable option choose from, I'll be honest, is probably a harder path for a lot of people. Because it's saying, I'm going to have to figure out how to bring in people who are good at things, I'm bad at, going, going out to teach and find mentorship, or things that I'm not ready."

Website: http://www.brokerfusion.com/

In today's episode, we unpacked lots of different things, we talked about the flywheel in the real estate space, where people are at in the journey, how long they've been in business. And we go through the three parts of that process of the demand funnel, the sales rhythm, the delivery system, and what it is that you're struggling within your business, and what things you need to do as a new agent, or someone that is further along the journey, we dive into choosing a niche and being able to create more value in that space by picking a target market, figuring out what their pains are, and then creating value by solving those problems. 

"But when you do niche and you dive in deeper into one certain area, you become more knowledgeable. And the other parts of the flywheel are easier because you can give more value, you can add more content, you can be more specific on their pace. And so, you know, going through that sales rhythm and actually delivering the product, where whether you're partnering with other people, and you know, you're finding the things in that, that niche that is more valuable to those clients. What's up everyone, this is the broker fusion podcast, I am Sarah Montana. I'm an investor, a real estate broker, and a coach and mentor to agents."

Website: http://www.brokerfusion.com/