The Effects of Multicultural Diversity in Real Estate Brokerage

Michael Bond, Vicky Seiler and Michael Seiler ()

Journal of Real Estate Research, 2003, vol. 25, issue 4, 529-542

Abstract: This study examines the changing diversity of home buyers and the steps brokerage firms are taking to adapt to these changes. The results reveal that larger firms are experiencing a greater increase in customer diversity. This can be partly explained by their efforts to target diverse groups through sponsored seminars and hiring minority sales professionals. A survey of minority home buyers reveals that minorities have owned fewer homes, earn less and are younger than their non-minority counterparts. Race and income were found to significantly explain reports of greater difficulty on the road to home ownership.

Date: 2003
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Journal Article: The Effects of Multicultural Diversity in Real Estate Brokerage (2003)
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DOI: 10.1080/10835547.2003.12091120

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