Some interesting year-end figures: Long and Foster’s market share in Maryland actually increased in 2007 by 11 percent over the previous year. The largest locally owned company in the region, Long and Foster had a 25% market share, placing us even more firmly at Number One in Maryland. And despite the woes of the housing market, that share showed a double-digit increase. How did the competition fare? Second place ReMax had a 4.6% decline in market share to just 18%. Coldwell Banker had a surprisingly-small 11.5% of the market, and their figures showed a downward trend in the last three months of the year, to just 10.74% in December. Everyone else is either in single digits, or fractions of a percent.
Its no wonder that the last few months have seen smaller competitors close their doors. Slow markets tend to weed out the weak players, but I’d like to believe that we’re gaining market share because of the stability and superior service that larger brokers offer their clients. And everyone wants to choose a winner, especially when the winner gets to that place by smart, fair, and popular policies.
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