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The Impact of Agent Experience on the Real Estate Transaction

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  • Bennie Waller
  • Ali Jubran

Abstract

This research examines the productivity of real estate agents who acquire and maintain their real estate salesperson's license for two years or less (rookie) relative to those who have been licensed agents for 10 years or more (veteran). The findings show that properties listed by rookie agents will sell for approximately 10% less than those listed by more experienced agents. Properties listed by rookie agents also endure a significantly longer marketing duration than those of more experienced agents. Properties listed by veteran agents also sell for approximately 2% more than those of rookie agents and did so 32% faster. Finally, while the inexperienced agent does not significantly influence the probability of a sale, the more experienced agent does significantly increase the probability of a successful transaction.

Suggested Citation

  • Bennie Waller & Ali Jubran, 2012. "The Impact of Agent Experience on the Real Estate Transaction," Journal of Housing Research, Taylor & Francis Journals, vol. 21(1), pages 67-82, January.
    • Handle: RePEc:taf:rjrhxx:v:21:y:2012:i:1:p:67-82
    DOI: 10.1080/10835547.2012.12092052
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