Market Share: a Definition

J Philip Faranda January 15, 2012

What is market share in real estate? 

Happy kids gorgeous woodworkMarket share could mean percentage of closed transactions in a given area. 
Market share could mean the percent of closed dollar volume in a given area.
Market share could be the amount of inventory for sale in a given area. 

At around 11am today, market share took on a different meaning. Even though I am based in Westchester County, I have three listings in Highland, New York in Ulster County. And as a working real estate broker with a family, there are times when the best way to balance things out is to multitask: we pile the kids in the car and have them come on a business-related trip. It could be to put up a sign, install a lockbox, or open a door for someone. I had a little bit of everything today. And once I was finished with my brief Sunday morning appointment, it was made known to me by my beloved that our children were in need of, um, facilities. 

Our little blessings are 9,8,7 and 4. Taking them to a restaurant is not fun. And we're a solid hour from home and hearth. Ann suggested perhaps heading back our listing that I was just in, but it was winterized; you never use the bathroom of a winterized house. What to do? 

But wait! I have other listings in this town! And one, whose owner I just spoke to on Friday, was close by. The owner was out of town for the weekend, so I gave her a quick call. A teacher and a lovely woman, she laughed heartily and gave her porcelain blessing. The kids were on the their best behavior, I checked on my listing, and the drive home was devoid of panic or bladder-driven drama. 

So that's not a bad litmus test. If you are in a town and you have a choice of three clients to call for a little help if nature calls, you've got yourself a little bit of market share. 

Incidentally, the house we were in was pretty awesome: a pre- war Victorian with amazing charm and woodwork- here is the link to see the photos on Homespotters. 1 Tillson Ave Highland, NY, 12528

1 Tillson Ave Highland, NY, 12528. 2700 square feet, $299,000



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