Licensing Requirements, Enforcement Effort and Complaints Against Real Estate Agents

Karl L. Guntermann and Richard Smith ()
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Karl L. Guntermann: Department of Finance College of Business Arizona State University Tempe, Arizona 85287, http://www.cob.asu.edu/fin/

Journal of Real Estate Research, 1988, vol. 3, issue 2, 11-20

Abstract: This study is the first to relate complaints against real estate licensees to compliance and enforcement efforts by regulators and prelicensing education requirements. Results suggest that minimal prelicensing education requirements may reduce complaints but more stringent requirements do not appear to lead to further reductions. The most effective way to reduce complaints is found to be through vigorous efforts at compliance and enforcement. The policy implication of this finding is that states would need to shift resources to the compliance and enforcement areas to achieve significant reductions in complaints.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1988
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Citations: View citations in EconPapers (8)

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