Ken H. Johnson () (Florida International University 11200 SW 8th Street, Miami, FL 33199) Leonard V. Zumpano () (University of Alabama Tuscaloosa, AL 35487) Randy I. Anderson () (University of Central Florida Orlando, FL 32816)
Abstract
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 agents are identified and controlled for in hedonic pricing and duration models in order to examine the relationship between incentives and agent performance. The results reveal that 100% agents sell their listed properties faster and at premiums. This paper may also help explain the contradictory findings of earlier research.
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Find related papers by JEL classification: L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services