Real Estate Specialties

Working and Creating your Real Estate Sphere

For an actor, all the world’s a stage; for a real estate agent, all the world is viable real estate sales. Although it would be amazing if you could actually sell every piece of real estate (multiple times, even), it’s very difficult to develop a level of expertise in so many different kinds of property, even in a very long career. Because of that, most agents narrow their focus and become the masters of just a few types of real estate. These agents create a sales sphere for themselves.

There are lots of different ways to create a sphere and work it, the main goal is to narrow the infinite possibilities into one or more manageable chunks.

Choosing Your Sphere

For most agents just starting out, the hardest part of their job is definitely figuring out how to create a sphere. It’s an incredibly simple process, which is probably why so many overthink it. A sphere can literally be anything: a neighborhood, a price range, a particular style of property, a particular kind of buyer. The ethereal nature of the thing may be why it’s so confusing.

It’s generally recommended that you select a sphere that you already know something about. For example, if you’ve worked in construction, you may want to work with investment properties, in hopes of attracting investors, or recruit some new builders and start selling new construction. If your background is in banking, you might choose to work with first time homebuyers, since you’re familiar with different financing options for this special group, so you should choose properties that are considered “starter” homes.

Over time, you’ll develop many spheres, but when you’re getting started, it’s important to only have one or two so you can really get familiar with the properties, unwritten rules, and the actors already in play in those areas. But remember, a sphere can literally be anything, so it’s up to you to define exactly where the logical boundaries lie.

Some More Examples of Spheres

Spheres should have some sort of unifying characteristics, but what those are can be pretty vague, so long as they make sense in relation to your job as a sales agent. Here are a few examples and some of the features that bind them:

  • Luxury rural properties. High-end homes that are located on acreages and far from the city lights. These properties are going to attract the same sort of buyers, should be of similar construction quality, and will have similar high-end price tags.
  • Historic properties. Specializing in historic properties means different things to different people. After all, there are plenty of historic properties scattered around that will share a lot of the same struggles, like piecemeal updates over decades. Those located in actual historic zones will require additional knowledge, since each zone can have different rules. For the architecture buff, though, this is a fun sphere to work.
  • Commercial investment properties. Not all real estate agents strictly sell residential. Some dabble – or even specialize – in commercial properties. Office buildings are a common type of commercial investment property that can see a lot of action; that would be a specific commercial sphere. Strip malls are a second type, requiring more understanding of commercial leasing practices.

Working with Buyer Spheres

Although spheres are generally easier to establish when you’re working with a property-first approach, since every property with your name on it will bring you more buyers of the same type, you can create a buyer-first sphere. This would set you up to become a buyer’s agent or buyer’s specialist.

Depending on your existing connections, a buyer sphere can be slow to really catch fire, but for the right personality, it can be incredibly rewarding. In a buyer sphere, you can choose particular types of buyers you want to work with and go to where they happen to be. Want to help telecommuters relocate to your area? That’s a buyer sphere. How about getting families into homes that are ideal for their growing families? That’s a buyer sphere, too!

Use Your Interests to Choose Your Spheres

Ultimately, you’re going to find no real joy in your work as a real estate agent unless you choose spheres that align with your interests. It may help to talk to fellow agents about their spheres, or to explore social media groups that focus on particular areas or architectural style to get a better idea of who and what to expect.