Why Should Start-up Estate Agents Consider Operating in a Niche Sector?

In recent years there has been a growing number of online estate agents that provide a traditional high street estate agency service but from a virtual platform.  Much of their success lies in the fact that, because of their reduced expenses in not having to fund a store front, they can offer the same service at a much lower cost.

For instance, although high street firms charge between 1.5 and 2 percent of the sale cost, online estate agents charge as little as £500.00. This represents a huge difference for consumers, especially when you consider the fact that inflation continues to grow disproportionately to the national average wage.

The Benefits of Operating in a Niche Real Estate Sector

Given the surge in online estate agents and the already highly competitive rates that they charge, start-up estate agents have to find new and more innovative ways of attracting customers to their sites.  They may of course do this with marketing but, with the wealth of estate agents crowding the market, it may take more than the use of clever marketing and advertising materials to make them stand out from the crowd.

One way that they may do this is by ensuring that their listings appear on the large national property websites such as Right Move and Zoopla.  A further way that they may do this is by focusing on a niche area, such as first time buyers or individuals with poor credit scores.  By focusing on these niche sectors of the market it will enable the estate agents to draw customers to them by offering them a tailor made or specialised service.  For instance, one segment of the market that a new estate agent could focus on is providing a service for people wishing to acquire a rental property whilst on benefits.  This section of the market is largely uncatered for, with the notable exception of industry leading service providers such as DSS Move.

The Last Word

Due to their expertise, new start-ups in this sector could follow the lead of DSS Move and attract landlords by alleviating many of the difficulties associated with having tenants on benefits. These include issues such taking care of the payment arrangements or liaising with them in case of them having had their benefits suspended, which can take time and effort out of your busy working day.

Regardless of the niche area that you sector, this strategy affords you an excellent chance of success. This should not be ignored, especially in an economy that continues to show signs of decline and restriction.