Volume
27, Number 4, 2005 of the Journal of Real Estate Research
Technology and Real
Estate Brokerage Firm Financial Performance
Professor John D. Benjamin
Kogod School of Business
American University
4400 Massachusetts Ave., NW
Washington, DC 20016
E-mail: jbenj@american.edu
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Professor Peter Chinloy
Kogod School of Business
American University
4400 Massachusetts Ave., NW
Washington, DC 20016 |
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Professor G. Donald Jud
Bryan School of Business and Economics
University of North Carolina at Greensboro
Greensboro, NC 27412-5001
E-mail: juddon@uncg.edu |
Professor Daniel T. Winkler
Bryan School of Business and Economics
University of North Carolina at Greensboro
Greensboro, NC 27412-5001
E-mail: dt_winkler@uncg.edu |
Abstract: This study
investigates the impact of Internet usage on the financial performance
of residential real estate brokerage firms using a database of over
1,700 observations. Factor loadings and a factor score for Internet
usage are developed. The results show that Internet use is positively
related to revenue and net income, and negatively related to net margin.
In a second stage analysis,
Internet use is found to be positively associated with franchise
affiliation, affiliation with a referral /relocation network and firm
size, while negatively related to firm age, single-office firms and
location in the West and South (relative to the Northeast).
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