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A Note on Licensing and the Market for Real Estate Agents

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  • Jud, G Donald
  • Winkler, Daniel T

Abstract

This study develops and estimates a model of real estate agent demand and supply. The estimates of the model show that the licensing examination pass rate and the educational requirements set by state licensing boards affect the numbers and incomes of real estate agents. The study further shows that the demand for agents is related to economic activity in the housing market and that the supply of agents is very elastic with respect to agent earnings. Copyright 2000 by Kluwer Academic Publishers

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  • Jud, G Donald & Winkler, Daniel T, 2000. "A Note on Licensing and the Market for Real Estate Agents," The Journal of Real Estate Finance and Economics, Springer, vol. 21(2), pages 175-184, September.
    • Handle: RePEc:kap:jrefec:v:21:y:2000:i:2:p:175-84
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    Cited by:

    1. 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.
    2. Dirk Yandell, 2011. "Efficiency in the California Real Estate Labor Market," American Journal of Economics and Business Administration, Science Publications, vol. 3(4), pages 589-595, December.
    3. John D. Benjamin & Peter Chinloy & Daniel T. Winkler, 2009. "Labor Supply, Flexible Hours and Real Estate Agents," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 37(4), pages 747-767, December.

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