Looking for deals as the market changes? Focus on 'Necessity Nicky'

As featured on RealTrends.com. 

Source: RPR

How's the market in your area?

Here in metro Atlanta, October home sales fell to their lowest level in a decade, which means the rate of home sales mimicked the tail-end of what we now know to be "The Great Recession".

If that makes your jaw clench in stress as there is continued talk of an economic slowdown, then, as a coach, I want to redirect your attention to who I call,  "Necessity Nicky".

The interesting thing about all economic downturns is there are those that still succeed and even experience unprecedented success, despite those around them struggling. I have found the difference to be one's mindset or focus.

I want to challenge you to focus on who I call "Necessity Nicky" sellers. "Necessity Nicky" sellers are those that are not just highly motivated but are in a place of unavoidability. They have no choice but to sell (and/or buy). Such sellers include those experiencing a divorce, a drastic change in household size, estate sale, layoff, foreclosure, relocation, etc.

Here's the key, as a Fair Housing DECODER© (what I call a fair housing advocate),  I never want us to deny housing to anyone. Thus, we market and equally serve everyone in our respective areas. As a *bonus* (that is the keyword), we can offer (market and promote) *additional* resources -- that is a key phrase to include as a fair housing practitioner that you are able to go above and beyond to meet the needs of clients. Notice this is "both/and". We do not market our additional resources to the exclusion of anyone else that is not in that season of life.

Defining Your "Necessity Nicky" Niche AND Upholding Fair Housing 

In other words, your key to thriving during this market correction is being able to balance between creating a niche while simultaneously supporting fair housing.

For example, here are different marketing blurbs to attract home sellers experiencing divorce:

#1 -- "I can help you buy or sell homes IF (there is an implied "if and only if") you are going through a divorce." (Real Estate Pro that is NOT a Fair Housing DECODER© WITH bonus resources)

#2 -- "I can help you buy or sell homes." (Real Estate Pro that IS a Fair Housing DECODER© WITHOUT bonus resources)

#3 -- "I can help you buy or sell homes plus I have special resources if you are experiencing a divorce." (Real Estate Pro that IS a Fair Housing DECODER© WITH bonus resources)

Do you see the difference? 

Blurb 1 (in red for stop, do not pass go) allows you to focus on a "Necessity Nicky" niche but it implies an exclusion of everyone else. That means you likely are violating fair housing even if inadvertently. Stay away from this.

Blurb 2 (in yellow for proceed with caution) allows you to market homes while upholding fair housing yet you do not create a niche to help you stay top of mind and stand out as the economy changes. This is not sustainable.

Blurb 3 (because green means go) allows you to market homes while upholding fair housing plus creating a unique selling proposition (USP), which allows you to carve out a "Necessity Nicky" niche vital during economic downturns. This is the winner!

How do you build your toolbox of *additional* resources?

In order to begin to build your toolbox of *bonus* resources to attract a niche of "Necessity Nicky" sellers, network and build referral partnerships with:

+ Startup companies (who likely will not have an official relocation department or partnership with say Cartus but with economic changes, may need your help),

+ Co-working spaces (which house up-and-coming entrepreneurs that again likely do not have an existing alliance with competitors),

+ Divorce attorneys, 

+ Estate planners, 

+ Small, local banks (be sure to check those that are owned by a protected class too like a Hispanic-owned bank)

Not interested in "shaking hands and kissing babies"? Then be sure to use social media to find the above professionals to focus on "Necessity Nicky" sellers.

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