Updated over 7 years ago on . Most recent reply
Finding a niche as an agent
I'm in classes now here in SC to get my real estate license. I wanted to get some opinions of experienced agents on something.
I'm looking at 2 different niches to get into and have issues on deciding which one to pursue.
One is a more so retail niche. We have a big recreational lake here where I grew up and live and anything around this lake (lakefront and surrounding areas) the market value of these houses are higher. I love the area, knowledgeable of the area, and plan on living in the area forever. The issue I feel with these houses though, is the days on market. Some of these areas are somewhat rural. But the schools are really good, 10 to 25 mins from shopping, etc. It's a great area I feel, days on market is the issue there.
The other niche I'm looking into of course is working with investors and finding deals in Columbia/Lexington/Chapin areas. I have experience with direct mail and finding decent deals in general, but our inventory in our market is definitely low. I've also built some relationships with investors so I feel like I'd have no issue moving a decent deal once found, but the issue here is actually finding the deal.
Investment properties in our market are usually in the 20k to 50k range, so there would have to be a lot of volume. 20k to 50k is a lot lower than the 300k to 1mill dollar properties I'd be working with in my first niche I spoke about above.
So for the experienced guys and gals out there. Which one of these is more viable? What would you do?
Thank you for your time