Intra-firm Real Estate Brokerage Compensation Choices and Agent Performance

Ken H. Johnson (), Leonard V. Zumpano () and Randy I. Anderson ()
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Ken H. Johnson: Florida International University 11200 SW 8th Street, Miami, FL 33199
Leonard V. Zumpano: University of Alabama Tuscaloosa, AL 35487
Randy I. Anderson: University of Central Florida Orlando, FL 32816

Journal of Real Estate Research, 2008, vol. 30, issue 4, pages 423-440

Abstract: This paper seeks to empirically determine whether more skilled and productive real estate salespeople, identified as full-payout or 100% commission agents, have a discernable, systematic effect on property selling price and its marketing time. Two types of agents, 100%ers and split-commission agents are identified and controlled for in hedonic pricing and duration models in order to examine the relationship between incentives and agent performance. The results reveal that 100% agents sell their listed properties faster and at premiums. This paper may also help explain the contradictory findings of earlier research.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 2008

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