Volume 29, Number 1, 2007 of the Journal of Real Estate Research
Listing
Specialization and Residential Real Estate Licensee
Leonard V. Zumpano
University of Alabama
Culverhouse College of Commerce and Business Administration
Department of Economics, Finance, and Legal Studies
Tuscaloosa, AL 35487
Email: lzumpano@cba.ua.edu
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Ken Johnson
Florida International University
Jerome Bain Real Estate Institute
College of Business Administration
Miami, FL 33199 |
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Randy I. Anderson
CNL Financial Group
Orlando, Florida |
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Abstract: Earlier
research has found that specialization by real estate agents creates
economies of scope for real estate firms. So far, however, no research
has addressed this issue at the agent level.
The question this research seeks to answer is whether specialization in
one side of the real estate transaction increases agent income. The most
important finding is that specialization has an asymmetric impact on
earnings. Specializing in listings positively enhances agent income. In
contrast, specialization on the selling side has an adverse affect on
agent income. The implications of these findings for the consumer and
real estate industry are also examined.
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