We’re not striving for “Market Dominance . . . Market Proliferation”!
We don’t want to “OWN” the market . . . That sounds like WAY too much work.
Once you “own” something like a market, you become the largest target for anyone and everyone and thus find yourself shifting from Offense to Defense as you protect yourself from the assaults that emerge as your competitors play the offense – capitalizing on any chinks in your armor – innovating and testing new models – and doing whatever they can do to take some of the mind-share your brand has in the heads of your prospects. (How’s THAT for a run-on sentence)
A potentially more lucrative approach is pursuit of “Total Market Presence”.
How could this me more lucrative?
The overhead cost of maintaining market dominance often consumes the massive revenue thereby leaving less profit.
A real estate firm with two solid niche REALTORS (1 Buyer Specialist and 1 Listing Specialist) in each sub-market can have similar impact on a smaller scale with potential for higher yield (Profit).
Each of those 2 niche agents has the ability to build CLOSE relationships throughout their niche with good, old fashioned face-to-face, belly-to-belly interaction with the people within their specific niche such that, when the folks who live there think of them FIRST when they think about Real Estate. These savvy specialists become the known local experts without having to spend huge marketing $$$.
The best form of advertising is “more of the Listing Specialist’s signs in more yards”, and the buyers value the niche expertise of the Buyer Specialist.