I have to admit, this is a bit of a pet peeve. Ask a Realtor what they “specialize” in and often you’ll get an answer that goes something like this; “I sell residential condos but I also sell detached homes, townhouses, cottage property – but only if my clients ask, oh, and I also do commercial!”
Not sure where the specialization comes in quite frankly. Luckily I was fortunate enough to start my career in the commercial real estate field, specifically in Office Leasing. It became clear very quickly that there was no way I could offer advice on some of the other main commercial fields like retail, industrial, hotel properties or land. The two main firms I had the good fortune of working with had clearly identifiable “specialists” who knew what they were doing in that area and often had training to go along with it.
So why is it that so many Realtors try to come up with an answer that they think will impress, or better yet, might lead the potential customer to blurt out that they have a need that falls in that list of services?
What is much more impressive, effective and infinitely more profitable is an answer like “I only work in the central core area of Toronto with buyers and sellers of detached family homes”, or, “I specialize in the waterfront condo sales market and refer everything else to a Realtor who is a specialist in the area the client needs!” This does not even have to be relayed verbally but can be part of your own internal dialogue. More to follow on this topic.