Real Estate Brokers, Housing Prices, and the Demand for Housing

G. Donald Jud and James Frew
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G. Donald Jud: School of business and Economics, The University of North Carolina, Greensboro, North Carolina 27412-500
James Frew: School of business and Economics, The University of North Carolina, Greensboro, North Carolina 27412-500

Urban Studies, 1986, vol. 23, issue 1, 21-31

Abstract: This study examines the role of real estate brokers in the market for residential housing. It is shown that brokers obtain higher prices for the homes they sell and implicitly shift part of the brokerage-commission burden to the buyer. Evidence also is found to suggest that buyers who search the housing market with the assistance of a real estate broker have a higher demand for housing than buyers who shop the housing market without the help of a broker. Real estate agents thus appear to be salesmen for the housing industry and to generate effects very similar to that of advertising.

Date: 1986
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Persistent link: https://EconPapers.repec.org/RePEc:sae:urbstu:v:23:y:1986:i:1:p:21-31

DOI: 10.1080/00420988620080031

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