Earlier research has found that specialization by real estate agents creates economies of scope for real estate firms. So far, however, no research has addressed this issue at the agent level. The question this research seeks to answer is whether specialization in one side of the real estate...

Using 1994-1995 microeconomic data from the National Association of Realtors (NAR), this paper estimates cost and profit X-efficiency levels in the residential real estate brokerage market using traditional and Bayesian stochastic frontier models. We find that firms err more from failure to...

This paper examines the continuing evolution of the Internet and the resulting effects on the efficiency of buyer search. The study encompassed market conditions indicative of both a buyer's and seller's market. The results indicate that as Internet usage increased search duration increased,...

Recently the use of artificial stucco (formally known as Exterior Insulation and Finish Systems, or EIFS) on residential real estate properties has been a topic of much debate. In this paper, we outline the issues surrounding EIFS use. Subsequently, we develop and test hypotheses regarding the...

The evolving multifunction role of the real estate broker and the demands being placed upon brokers by both buyers and sellers is increasingly placing brokers in conflict with the laws governing their conduct as agents. This paper examines the nature of this conflict and evaluates proposed...

This paper seeks to empirically determine whether more skilled and productive real estate salespeople, identified as full-payout or 100% commission agents, have a discernable, systematic effect on property selling price and its marketing time. Two types of agents, 100%ers and split-commission...

The purpose of this research is to examine buyer search under different market conditions. We conduct a survival regression analysis of survey data generated by the National Association of Realtors for 1988, 1991 and 1993. We find, in all instances, that economic conditions are the dominant...

This study examines buyer search duration using a national database consisting of transactions conducted with and without the assistance of real estate brokers. The results of this study indicates that information asymmetries are present in the residential real estate market. First-time buyers...

Although agency disclosure is required by every state, recent national surveys of home buyers and sellers indicate that disclosure varies significantly across the United States. This study seeks to determine the causes of these disparities by examining states¡¯ educational standards,...

This article examines the productive efficiency levels present in the market for residential real estate brokerage services by employing the stochastic frontier approach. The only prior study (Anderson, Zumpano, Elder and Fok, 1998) that examined productive efficiency in this sector employed...