Real estate is the vehicle you’ve chosen to take you to the real estate Promised Land. Whether you’re involved in real estate sales, real estate investing or real estate investing training, at some point you’ll have to decide whether to specialize in one or two areas or generalize.
There’s a natural draw to being a Jack-of-All-Trades. If you give in to this temptation, there’s a very good chance that you won’t do any of it well.
Here’s what you should do instead:
- Determine your most profitable real estate niche (residential real estate sales, commercial real estate sales, short sales, wholesale real estate investing, etc.)
- Become a genuine expert in your chosen real estate niche
- Build up a dedicated and rabid fan base using social media and other proven marketing strategies
- Watch your business explode
Specialization really will lead you down the road to real estate riches. Don’t feel like you’re throwing away potential real estate profit opportunities, though. You can either refer business to professionals with whom you have a business relationship (being careful to learn about applicable state and local laws) or simply provide referrals as a free service. You’ll build good-will – which might just pay off in the form of referrals or future business.
Be smart about the way you run your real estate business. By specializing in the most profitable niches of real estate, you’ll have a better opportunity to really learn your field and explosively build real estate wealth.