Boutique brokers can work nation wide also. 

Hi Ember, my company manages 5 stars Boutique vacation rentals in Fort Lauderdale.

The building has been passed over by many people due to the layout, but I have a creative and viable solution (boutique hostel/hotel hybrid in well-established and overpriced tourist destination). 

I have built my boutique broker business around foreclosures and other distressed properties (probate/divorce).

Are they a massive company or a smaller boutique manager?

You will need to decide if you want a shop that has a lot of training, or if you want a small boutique shop, or even a flat fee brokerage. 

Then remove the luxury homes and boutique hotels listing on Airbnb you will remove another 5-10%.

@Charlie Brown, I'm not super familiar with your market specifically but I think this strategy works anywhere:- Find a boutique, niche, ideally aging broker/brokerage in your market, and start adding value. 

Solo brokers at a boutique may pay up to $650 per license, while those with bulk pricing at a major commercial firm can get it for under $400 per license.

I have had office space in Astoria for 5 out of my 7 years in the business and it remains my favorite place to work.Newer developments present a wide range of opportunities, including:Affordable housing rental unitsNew high-rise condominium buildings Small boutique condo developmentsMixed-use buildings2-4 family new-construction residential propertiesFilm studiosAstoria’s high cost of living is akin to other neighborhoods in the ‘outer boroughs’ with Manhattan views or proximity to the island.