Are you in a Big City or Small City & Why? Comment Below

[Michael Orakpo]

I am currently looking at the Pros & Cons in being a realtor in a small market vs. a Big market like Houston, Texas. Please comment if you are in a Big or small market and why? 

I love the idea of being a realtor in a small market, because you can sort of get into being a big fish in a small pond, and get to where everybody in the town knows you are a good realtor. Also, the town is where I graduated from and played ball, so I have a good presence in the area.

I also love the idea of starting back home in a big market like Houston, and taking advantage of different areas. Dominate and establish a presence in one area and start expanding out into the city. Big market= more houses/people

[Maggie L.]

Personally I'm in a big market (St Louis) and wouldn't have it any other way. For me reasons include: better able to be a niche salesperson e.g. investors, in a metro area with a lot of opportunities to expand e.g. property management, loving the unique character of the region e.g. historic homes, wide variety of unique amenities, FOOD, and I've put in a lot of hours getting to know the local market.

Small towns may have opportunity to dominate the market pretty quickly, but it also doesn't take many agents to oversaturate. A big part of RE is knowing your local market. I'd ask what growth opportunities you see in both markets? Agents work in a commission-based world, so if most properties command low prices or take months to sell it may be challenging to make it in a small town.  It sounds like you're tempted by both scenarios and like both locations, but there are a few questions I'd still ask myself.

1) What brokers are there and how much will they help me learn about my market (I'd recommend meeting with multiple brokers in both locations if possible). Do I see brokers I'd be comfortable working for, at least to start?

2) What network do I have in place or can I easily develop to find opportunities.

3) Do I need a different style in either location e.g. more online presence, doorknocking that is a better fit for my personality.

4) Resiliency. RE is cyclical, but some markets can also suffer for a variety of reasons e.g. big employer closing, changing commodity prices. Are there any reasons to be concerned in either market?