The Education of Real Estate Salespeople and the Value of the Firm

Randy I. Anderson () and James R. Webb ()
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Randy I. Anderson: Seton Hall University South Orange, NJ 07079, http://www.shu.edu/
James R. Webb: Cleveland State University Cleveland, OH 44115, http://www.csuohio.edu/

Journal of Real Estate Research, 2000, vol. 20, issue 1, 143-152

Abstract: In order to protect the public, most states require salespeople and brokers to meet specific licensing requirements, typically in the form of classroom instruction and/or successful completion of an examination. Frequently, however, many real estate brokers require their sales staff to undertake education that exceeds these minimum requirements. In this study, we derive a theoretical model that shows how optimally-timed, firm provided education that exceeds legal minimums can increase staff productivity, reduce litigation risks and perhaps raise and/or maximize the expected value of the firm.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 2000
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