Real Estate Brokers and the Market for Residential Housing |
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| Authors: | G. Donald Jud |
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| Affiliation: | Professor of Economics, School of Business and Economics, The University of North Carolina at Greensboro, Greensboro, North Carolina 27412. |
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| Abstract: | This study explores the role of the real estate broker in the housing market. A model of the demand for broker services by both sellers and buyers is developed and conditional logit estimates are presented. Evidence relating to the effects of the brokerage industry on housing market transactions also is presented. Brokers do not seem to affect the prices of the houses they sell. But they do influence the level of housing consumption by buyers. |
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