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The Value of a Real Estate Franchise

Author

Listed:
  • James R. Frew
  • G. Donald Jud

Abstract

Franchise affiliation has become common in the real estate brokerage industry. Department of Commerce estimates show that in 1981 about 30% of all real estate brokerage establishments were franchise affiliated. This paper develops and estimates a model of brokerage firm sales, using sample data collected in 1982 for three North Carolina cities. Controlling for the size and experience of the brokerage staff and the experience of the broker, the paper finds that franchise affiliation contributes to firm sales. Affiliation with a national franchise appears to be worth about $930,000 in additional sales to the average firm.

Suggested Citation

  • James R. Frew & G. Donald Jud, 1986. "The Value of a Real Estate Franchise," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 14(2), pages 374-383, June.
    • Handle: RePEc:bla:reesec:v:14:y:1986:i:2:p:374-383
    DOI: 10.1111/1540-6229.00392
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    Citations

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    Cited by:

    1. Natalya Delcoure & Norm G. Miller, 2001. "The Future of the US Residential Real Estate Brokerage Industry in Light of the Internet and International Indications," ERES eres2001_147, European Real Estate Society (ERES).
    2. Stephen L. Locke, 2020. "Paying for a Name? Comparing the Performance of Franchised Real Estate Brokerage Firms," The Journal of Real Estate Finance and Economics, Springer, vol. 61(1), pages 115-128, June.
    3. John D. Benjamin & G. Donald Jud & G. Stacy Sirmans, 2000. "Real Estate Brokerage and the Hosting Market: An Annotated Bibliography," Journal of Real Estate Research, American Real Estate Society, vol. 20(1), pages 217-278.
    4. Theron R. Nelson & Susan Logan Nelson, 1988. "Franchise Affiliation and Brokerage Firm Selection: A Perceptual Investigation," Journal of Real Estate Research, American Real Estate Society, vol. 3(2), pages 87-107.
    5. John D. Benjamin & G. Donald Jud & G. Stacy Sirmans, 2000. "What Do We Know About Real Estate Brokerage?," Journal of Real Estate Research, American Real Estate Society, vol. 20(1), pages 5-30.
    6. John Benjamin & Peter Chinloy & Daniel Winkler, 2007. "Sorting, Franchising and Real Estate Brokerage Firms," The Journal of Real Estate Finance and Economics, Springer, vol. 34(2), pages 189-206, February.
    7. Peter Chinloy, 1988. "The Real Estate Brokerage: Commissioned Sales and Market Values," Journal of Real Estate Research, American Real Estate Society, vol. 3(2), pages 37-51.
    8. William T. Hughes, Jr., 1995. "Brokerage Firms' Characteristics and the Sale of Residential Property," Journal of Real Estate Research, American Real Estate Society, vol. 10(1), pages 45-56.
    9. John D. Benjamin & Peter Chinloy & Donald Jud & Daniel T. Winkler, 2005. "Technology and Real Estate Brokerage Firm Financial Performance," Journal of Real Estate Research, American Real Estate Society, vol. 27(4), pages 409-426.
    10. Angjellari-Dajci, Fiorentina & Boylan, Robert & Cebula, Richard, 2014. "Firm Size, Dual Brokerage, and National Franchise Affiliation of Real Estate Brokerage Firms: Unexpected Results from 2008 to 2013," MPRA Paper 55897, University Library of Munich, Germany.
    11. John D. Benjamin & Peter Chinloy & Donald Jud & Daniel T. Winkler, 2006. "Franchising in Residential Brokerage," Journal of Real Estate Research, American Real Estate Society, vol. 28(1), pages 61-70.
    12. Richard Martin & Henry Munneke, 2010. "Real Estate Brokerage Earnings: The Role of Choice of Compensation Scheme," The Journal of Real Estate Finance and Economics, Springer, vol. 41(4), pages 369-389, November.

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