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| What Do We Know About Real Estate Brokerage? Author: John D. Benjamin, G. Donald Jud and and G. Stacy Sirmans Start Page: 5 Abstract: Many facets of
real estate brokerage have been examined in studies appearing in the literature over the
last several years. This review attempts to organize the research around six questions
concerning the brokerage industry: (1) What is the nature of the market for brokerage
services and how does it influence the individual firm; (2) What factors determine broker
and agent compensation; (3) How does brokerage participation influence time on the market
and price; (4) Is the brokerage market efficient and equitable;(5) Must brokerage firms
assume greater liability; and (6) How do brokerage markets vary internationally. In
examining each question, the review points out the major focus of the research and
summarizes important findings. Its purpose is to identify key issues facing the brokerage
industry and suggest avenues for future study. |
