Market Structure in the Residential Real Estate Brokerage Market

Fred A. Forgey, Walter E. Mullendore () and Ronald C. Rutherford ()
Additional contact information
Fred A. Forgey: Graduate Program in Land Development Texas A&M University College Station, Texas 77843-3137, http://www.tamu.edu/
Walter E. Mullendore: Department of Economics University of Texas at Arlington Arlington, Texas 76019-0479, http://economics.uta.edu/
Ronald C. Rutherford: Division of Economics and Finance University of Texas at San Antonio 6900 North Loop 1604 West San Antonio, Texas 78249-0631, http://business.utsa.edu/divisions/div_ecofin.htm

Journal of Real Estate Research, 1997, vol. 14, issue 2, pages 107-116

Abstract: This study provides empirical evidence regarding brokerage firm concentration in a local market multiple listing service setting over the year 1992-1995. To evaluate the level of brokerage firm concentration in this market, Gini Coefficients, Herfindahl-Hirschman Indices and Concentration Ratios for each year of the study period are calculated. Our results indicate that for firms responsible for listing properties, firm concentration has not varied substantially over the four-year study period. However, for those firms that were responsible for actually selling properties, firm concentration has decreased over the study period. This finding tends to indicate that the MLS now provides greater exposure to a wide variety of sales firms, therefore leading to a higher level of competition with a lower level of concentration for selling firms in this local market.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1997
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