Not just the "market" but the real world too - they don't really...

Not just the "market" but the real world too - they don't really seem to be penetrating where it matters - on the ground. Lot's of reps perhaps, but lot's of reps that appear to all be competing in the same territories, suburbs and for the same market share. Throw into that the SLP brand beside it (talking WA here) and you have two brands, with multiple reps in each, competing in the same suburbs or geographic region, for a the same slice of the listing action.

Would have to see some pretty stellar earnings for this to move, and they will also want to see decent growth on the balance sheet in the form of a viable rent roll before this takes off.