Annette  Lawrence , Palm Harbor, FL 727-420-4041, Making FLORIDA Real Estate EZ  (ReMax Realtec Group)

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Rainmaker
1,508,307
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

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%?

Oct 20, 2017 09:58 AM
Rainmaker
4,876,944
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

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...

Oct 20, 2017 01:58 PM
Rainmaker
2,765,719
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

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. 

Oct 20, 2017 10:40 AM
Rainmaker
1,026,482
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Oct 20, 2017 12:47 PM
Rainmaker
5,271,092
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

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. 

Oct 20, 2017 10:00 AM
Rainmaker
2,426,419
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

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

Oct 20, 2017 09:52 AM
Ambassador
3,193,534
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

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.

Oct 20, 2017 03:29 PM
Rainmaker
2,981,712
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Too many other factors to consider to make this an easy answer. And your analogy to corporations is not vary valid here.

Oct 20, 2017 01:13 PM
Rainmaker
525,189
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

I'd farm somewhere else

Oct 20, 2017 12:24 PM
Rainmaker
3,173,497
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

It can be a challenge, but there are ways to test the market and see if it is worth it over the long term.

Oct 20, 2017 12:00 PM
Rainmaker
4,321,931
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

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

Oct 20, 2017 10:51 AM
Ambassador
4,298,316
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

There is something for everyone! (Even when it seems there is everything for just a few!)

Jun 23, 2018 09:19 PM
Rainmaker
1,037,744
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

If you can offer something unique that is also desireable then you can compete with any market. Quality Quality Quality

Jan 08, 2018 04:17 PM
Rainmaker
1,478,556
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

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'':) .

 

Oct 25, 2017 01:17 PM
Rainmaker
3,074,858
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Always enough to go around and I have seen one agent out do others in the same neighborhood.

 

Oct 22, 2017 04:57 PM
Rainmaker
1,158,250
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

It does depend on the community. Most I would not have any issue going after. Some communities the HOA president is the agent!!!

Oct 21, 2017 12:40 PM
Rainmaker
4,796,551
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

It depends on your campaign.  An effective one would work.

Oct 21, 2017 07:17 AM
Rainmaker
558,523
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

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.

Oct 21, 2017 05:45 AM
Rainmaker
3,049,971
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Barbara Todaro nailed this one!

Oct 21, 2017 05:14 AM
Rainmaker
912,387
Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

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.

Oct 21, 2017 12:27 AM
Rainmaker
3,977,723
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

People will always look for something else or better

Oct 20, 2017 08:21 PM
Ambassador
3,981,968
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

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.

Oct 20, 2017 07:06 PM
Ambassador
4,065,845
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

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.

Oct 20, 2017 05:31 PM
Rainmaker
1,212,849
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

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.

Oct 20, 2017 05:10 PM
Rainmaker
2,944,674
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

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

Oct 20, 2017 05:06 PM
Ambassador
2,345,039
Fred Griffin presently on Leave of Absence
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     If it's a golf course neighborhood with a sales office in the clubhouse, I'm probably going somewhere else.  

Oct 20, 2017 04:27 PM
Rainmaker
4,432,083
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

It would depend on how many homes are sold per year

Oct 20, 2017 03:55 PM
Rainmaker
791,481
Mel Ahrens, MBA, Kelly Right Real Estate
Kelly Right Real Estate - Hood River, OR
Customized Choices for your Real Estate Needs

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.

Oct 20, 2017 12:04 PM