Affinity Programs and the Real Estate Brokerage Industry

G Stacy Sirmans () and David A. Macpherson ()
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G Stacy Sirmans: Florida State University, Tallahassee, FL

Journal of Real Estate Research, 2001, vol. 22, issue 3, pages 337-352

Abstract: This study surveys active real estate brokers obtaining information on involvement in affinity programs and referral/relocation networks. Some results regarding affinity involvement are: (a) 13% of respondents reported affinity affilliations, 75% reported no affiliations, and 12% indicated plans to become involved within the next year; (b) about half having affinity affiliations were involved with 2-4 groups; (c) affinity relationships were most often with membership organizations, corporations, and professional organizations; (d) the primary affinity benefits provided were commission reductions, special mortgage packages, and discounted closing services; (e) 38% of respondents reported an increase in profitability die tp affinity affiliation while 21% reported a decrease; and (f) 56% reported an increase in agent productivity. An empirical income model shows that affinity affiliation has a positive effect on broker income. The probit models shows that: (a) participation in affinity arrangements is more likely for larger firms and national franchises but is not sensitive to location; and (b) large firms are more likely to participate in a larger number of affinity relationships.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 2001
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