I definitely need to follow this particular topic. Right now, I'm still in the process of getting my license. All I've got to do is pass the state licensing test and I'll be official!
One of my biggest concerns is that I don't live in a big city. In fact, the brokerage that I've been talking to the most is in the Snellville / Monroe area of Georgia (east of Atlanta). For instance, while I've heard that other places are growing like crazy, especially in Atlanta, my particular area seems eerily quiet, even though there is a major manufacturing business going up just up the road from my house.
But this is the market that I am the most familiar with simply because I've lived here for about ten years. Even then, my concern is that I don't know what I don't know.
Like @Jerome Harrod II says, I'm going to need some structure going into this so I'm not just flailing around. Or, to put it in GTD terms, what's my next action when it comes to market research?
My best guess would be to start with employment statistics. What does the job market look like? Where is it going? Then, I just go from there.
As far as how much is enough, I would argue that there's no such thing. But that's not helpful. The English teacher side of me says to make a rubric for yourself. On one side, you have DOES NOT MEET STANDARD in which the agent just responds to questions about the market with vague generalizations and guesses. On the other side, you have EXCEEDS THE STANDARD in which the agent can explain the ins and outs of the various subdivisions, homeowners associations, availability of businesses, parking, statistics concerning home sale, etc.
Mr. Harrod, I'll keep asking around and try to see if I can't help glean a satisfactory answer myself.