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Some little known, but highly profitable mortgage niches to consider in 2020 & the 3-Step “Pick Your Niche” Formula

We have all heard “the riches are in the niches” by now, but HOW do you actually apply this strategy? This article aims to help you do that today AND to give you some little known, but highly profitable mortgage niches to consider in 2020. At the end, there is a free Google sheet to help guide you in “scoring” your niches.

You must realize that by identifying an ideal client to serve and then differentiating yourself in your marketing & service to that client, you will easily double your profits and double your impact (if not more than that!). This is applying what some people call a “Blue ocean strategy,” and it is THE WAY to stand out from the crowd. Now, let’s dive in to how...

The 3-Step “Pick Your Niche” Formula:

Step 1: Brainstorm at least 5 markets to start. Here are some questions to consider:

  • This can be in any category: geographical niches, product niches, borrower niches…

  • Think about who your absolute BEST clients are RIGHT NOW

  • What type of clients have brought you the most or best business?

  • What type of clients have the least amount of complaints and are the easiest to manage?

  • Who absolutely loves what you do, respects you, and they’re your biggest fan?

  • Who gives you testimonials and sends you referrals?

Step 2: of those you’ve brainstormed, ask yourself:

  • Who can I help the most?

  • Who can I learn to help even better (better than my competition, if any)?

  • Who is being underserved in the market?

Step 3: Make sure the margins make sense

  • Can you really provide a solution to this niche that makes sense financially for both of you (win-win)?

  • Does this niche have reliable and significant income?

Once you have your market, I challenge you to go a little deeper and see if you can create a “Sub-Niche” within your niche. Put in the work now, and reap the benefits later!

Remember that... “Selling to the RIGHT PERSON is more important than all the sales methods, copywriting techniques, and negotiation tactics in the world. Because the wrong person doesn’t have the money. Or the wrong person doesn’t care. The wrong person won’t be persuaded by anything.”

―Perry Marshall

Now, make a choice and go after it!

Still stuck?

Here’s some little-known, but highly profitable niche markets to consider in 2020:

  • Move Up Buyers

  • Debt Consolidation Refi

  • Absentee Owners

  • VA

  • First-Time Property Investors

Remember, “If you try to be all things to all people, you won’t be anything to anybody.”

Here’s to choosing an underserved market, and creating a win-win situation for everyone involved.

Here is a link to the google sheet I use whenever I am evaluating new niche markets:

{Think of any other niches to consider? Other ideas to add? Comment them below!)


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