Paying for a Name? Comparing the Performance of Franchised Real Estate Brokerage Firms

Stephen L. Locke ()
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Stephen L. Locke: Western Kentucky University

The Journal of Real Estate Finance and Economics, 2020, vol. 61, issue 1, No 5, 115-128

Abstract: Abstract This paper compares the relative performance of franchised and independent real estate brokerage firms. One problem that arises when comparing the performance of two different brokerage types is that agents may self-select into a particular type. The empirical methods used control for potential self-selection by using within-agent variation in franchise affiliation for agents who have worked for both types of brokerage firms. The results suggest that agents self-select into particular real estate brokerage types and firms. Thus, failing to account for self-selection can lead to substantial bias.

Keywords: Real estate; Franchising; Self selection; Housing (search for similar items in EconPapers)
Date: 2020
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DOI: 10.1007/s11146-019-09702-2

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