1,844,301
It depends with the total business divided by the dominators. There will always be a % that will not use them but what % is that? Do you want to be the scraps or the dominator?
This is actually a good question - that formulating a % that will not go with the dominant/prevailing agent. Is it 20%? Is it 5%?
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Ryan Huggins - Thousan...
Thousand Oaks, CA
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Debe Maxwell, CRS
Charlotte, NC
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Nina Hollander, Broker
Charlotte, NC
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Kathleen Daniels, Prob...
San Jose, CA
5,583,278
there plenty for everyone.... and the quality of the marketing is the trigger for a phone call... be prepared to compete when it comes to marketing.... that's who gets the calls...and it doesn't matter if there are 5 top agents in the area... learn to market better than any of them...
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Barbara Todaro
Franklin, MA
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
3,345,091
It is always about the numbers ... what does the math tell us about the turn of those 500 homes? How many were listed by one agent? If that agent is the only one mailing to the homes ... it may be why owners are listing with that agent. There is always a story behind the story that the data will not tell us.
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Anita Clark
Warner Robins, GA
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Debe Maxwell, CRS
Charlotte, NC
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Nina Hollander, Broker
Charlotte, NC
2,220,654
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Debe Maxwell, CRS
Charlotte, NC
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Anthony Acosta - ALLAT...
Atlanta, GA
7,836,419
If the agent is as well known in the community as the other agents, go for it. If the agent is not well known, this can be a challenge.
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Debe Maxwell, CRS
Charlotte, NC
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Anthony Acosta - ALLAT...
Atlanta, GA
2,781,173
Its like the principal of the four shoe stores on each corner. Each one gets their share of business. How? The public is convinced that these four corners have all they want and need in regards to shoes. Same thing with the many agents working an area. As long as those agents know what they are talking about, make themselves known and give good service, all will do well
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Debe Maxwell, CRS
Charlotte, NC
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Nina Hollander, Broker
Charlotte, NC
5,230,119
The rule of thumb is a minimum of 8% turn-over and no agent dominance of 25% or more.
500 is an optimal size, Annette.
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Anthony Acosta - ALLAT...
Atlanta, GA
5,104,931
Too many other factors to consider to make this an easy answer. And your analogy to corporations is not vary valid here.
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Anthony Acosta - ALLAT...
Atlanta, GA
544,014
5,216,509
It can be a challenge, but there are ways to test the market and see if it is worth it over the long term.
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Debe Maxwell, CRS
Charlotte, NC
5,772,575
Annette,
That is not necessarily true.. The one who truly dominate are the ones who find the underserved market that the others are ignoring. A
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Nina Hollander, Broker
Charlotte, NC
4,319,419
There is something for everyone! (Even when it seems there is everything for just a few!)
1,045,440
If you can offer something unique that is also desireable then you can compete with any market. Quality Quality Quality
1,622,432
If there are a variety of other agents closing in the area, and there is high enough turnover to justify working there, then there is more than likely room for you as well.
Other factors to consider: turnover rate, average sales price, how far it is from your home ( since working a farm area close to home can be the best option, since you are already a ''local expert'':) .
4,936,716
Always enough to go around and I have seen one agent out do others in the same neighborhood.
1,955,212
It does depend on the community. Most I would not have any issue going after. Some communities the HOA president is the agent!!!
4,800,082
599,274
I think there is always room for a new agent. Old agents get comfortable, complacent, and start feeling entitled to business. A new agent can knock them back on their heels if done right.
3,071,489
1,543,823
Generally if a community is loyal, I'd seek a less "single-brand" loyal, high turnover market to target and become the one their loyal to. Assuming this is still for that new agent with a low budget.
As an experienced agent with a budget that will allow me to brand battle, I wouldn't let it stop me if I wanted in on that community.
3,986,258
3,988,007
I think there is room for a knowledgeable new face to move into that market. It won't be quick but that person can take a noticeable part of the market over time. The problem is that most people give it a try a few times and without seeing quick results move on.
6,393,609
Depends on what the two are doing to gain an maintain this dominance. A few years ago we had a company that seemed unstoppable in our community.
Now that we started a KW office in town most of our agents are coming from that company. Apparently they did a great job of building, but were not doing a great job of maintaining marketshare.
1,502,998
If they get +90% of the listings then I'd steer clear. If you can provide a significantly different type/level of service (or can beat them on price) then go in. It might also depend on just how happy people are with those agents. If they're seen as "God's gift to that community" then I'd avoid. If they're just "well everyone else used them, but meh" then I'd start moving in.
Either way, you really need to market the hell out of your differentiator(s). Technology? Approach? Will list for cheap? Whatever makes you different/better, you'll need to go full throttle on that.
3,416,038
It depends, nearly every community here has the mega agents hounding them. I like to do it personally, through good service, word or mouth and referrals that show them why i am better than those who have 100 listings or more. Service sells
2,684,109
If it's a golf course neighborhood with a sales office in the clubhouse, I'm probably going somewhere else.
4,434,127
961,383
Depends on the barriers to entry and the likelihood of being able to take business away from the dominant players. Might be better to focus on a need not being met.