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Determining Real Estate Licensee Income

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Abstract

This article examines the determinants of real estate licensee income using a 1997 survey of Texas real estate licensees. The factors having a positive effect on licensee income include: (1) number of hours worked; (2) work experience; (3) being a male; (4) using computer technology; (5) being involved in more transactions; (6) holding professional designations; (7) being associated with a larger firm; and (8) having access to personal assistants. Variables that negatively affect income include: (1) age; (2) selling primarily residential properties; and (3) having more affiliations. The results of this study, combined with previous studies, indicates that the high-earning real estate licensee is a younger male with more experience who: (1) works more hours; (2) has job satisfaction; (3) holds professional designations; (4) has access to personal assistants; and (5) utilizes a personal computer.

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  • G. Stacy Sirmans & Philip G. Swicegood, 2000. "Determining Real Estate Licensee Income," Journal of Real Estate Research, American Real Estate Society, vol. 20(1), pages 189-204.
    • Handle: RePEc:jre:issued:v:20:n:1:2000:p:189-204
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    1. G. Stacy Sirmans & Philip G. Swicegood, 1997. "Determinants of Real Estate Licensee Income," Journal of Real Estate Research, American Real Estate Society, vol. 14(2), pages 137-154.
    2. Jacob A. Mincer, 1974. "Schooling, Experience, and Earnings," NBER Books, National Bureau of Economic Research, Inc, number minc74-1.
    3. Barry A. Diskin & Dean H. Gatzlaff, 1994. "An Examination of the Earnings of Real Estate Appraisers," Journal of Real Estate Research, American Real Estate Society, vol. 9(4), pages 507-524.
    4. Michael Glower & Patric H. Hendershott, 1988. "The Determinants of REALTOR Income," Journal of Real Estate Research, American Real Estate Society, vol. 3(2), pages 53-68.
    5. Polachek, Solomon William, 1981. "Occupational Self-Selection: A Human Capital Approach to Sex Differences in Occupational Structure," The Review of Economics and Statistics, MIT Press, vol. 63(1), pages 60-69, February.
    6. James R. Follain & Terry Lutes & David A. Meier, 1987. "Why Do Some Real Estate Salespeople Earn More Than Others?," Journal of Real Estate Research, American Real Estate Society, vol. 2(1), pages 73-81.
    7. Jacob A. Mincer, 1974. "Schooling and Earnings," NBER Chapters, in: Schooling, Experience, and Earnings, pages 41-63, National Bureau of Economic Research, Inc.
    8. Linda L. Johnson & Michael J. Dotson & B.J. Dunlap, 1988. "Service Quality Determinants and Effectiveness in the Real Estate Brokerage Industry," Journal of Real Estate Research, American Real Estate Society, vol. 3(2), pages 21-36.
    9. McDowell, John M, 1982. "Obsolescence of Knowledge and Career Publication Profiles: Some Evidence of Differences among Fields in Costs of Interrupted Careers," American Economic Review, American Economic Association, vol. 72(4), pages 752-768, September.
    10. Glenn E. Crellin & James R. Frew & G. Donald Jud, 1988. "The Earnings of REALTORS: Some Empirical Evidence," Journal of Real Estate Research, American Real Estate Society, vol. 3(2), pages 69-78.
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    Cited by:

    1. Jason Beck & Yassaman Saadatmand, 2024. "The impact of real estate agent and firm characteristics on sales prices under different market conditions and price segments," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 59(1), pages 31-38, January.
    2. Chun-Chang Lee, 2017. "The Impact of Individual Characteristics and Branch Characteristics on Housing Agent Performance: Heckit model and Hierarchical Linear Modeling," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 9(10), pages 189-199, October.
    3. Marcus T. Allen & Justin D. Benefield & Ronald C. Rutherford, 2023. "Co-Listing Strategies: Better Transaction Outcomes?," The Journal of Real Estate Finance and Economics, Springer, vol. 67(3), pages 517-544, October.
    4. Biqing Huang & Ronald Rutherford, 2007. "Who You Going to Call? Performance of Realtors and Non-realtors in a MLS Setting," The Journal of Real Estate Finance and Economics, Springer, vol. 35(1), pages 77-93, July.
    5. J. Benjamin & P. Chinloy & G. Jud & D. Winkler, 2007. "Do Some People Work Harder than Others? Evidence from Real Estate Brokerage," The Journal of Real Estate Finance and Economics, Springer, vol. 35(1), pages 95-110, July.
    6. G. Martin Izzo & Barry E. Langford, 2008. "Data analysis with ordinal and interval dependent variables: examples from a study of real estate salespeople," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 1, pages 103-116, December.
    7. Maoguo Wu & Rui Xie, 2015. "Impact of Internet Usage on Residential Real Estate Brokerage Firms’ Financial Performance: Evidence from Nanjing, China," International Journal of Management Sciences, Research Academy of Social Sciences, vol. 6(11), pages 515-528.
    8. Turnbull, Geoffrey K. & Waller, Bennie D., 2018. "(What) do top performing real estate agents deliver for their clients?," Journal of Housing Economics, Elsevier, vol. 41(C), pages 142-152.
    9. G. Stacy Sirmans & David Macpherson, 2001. "Affinity Programs and the Real Estate Brokerage Industry," Journal of Real Estate Research, Taylor & Francis Journals, vol. 22(3), pages 337-352, January.
    10. Jonathan Wiley & Justin Benefield & Marcus Allen, 2014. "Cyclical Determinants of Brokerage Commission Rates," The Journal of Real Estate Finance and Economics, Springer, vol. 48(1), pages 196-219, January.
    11. 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.
    12. Yang Zhang & Hong Zhang & Michael J. Seiler, 2014. "The Effects of Demand Specification and Search Patience on the Buyer Search Process in China's Resale Housing Market: An Experimental Study," International Real Estate Review, Global Social Science Institute, vol. 17(3), pages 275-299.
    13. Daniel T. Winkler & W. Keener Hughen, 2012. "Fringe Benefits Compensation of Real Estate Agents and Brokers," International Real Estate Review, Global Social Science Institute, vol. 15(3), pages 253-281.
    14. 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.

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    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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