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Market Structure in the Residential Real Estate Brokerage Market

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    Abstract

    This study provides empirical evidence regarding brokerage firm concentration in a local market multiple listing service setting over the year 1992-1995. To evaluate the level of brokerage firm concentration in this market, Gini Coefficients, Herfindahl-Hirschman Indices and Concentration Ratios for each year of the study period are calculated. Our results indicate that for firms responsible for listing properties, firm concentration has not varied substantially over the four-year study period. However, for those firms that were responsible for actually selling properties, firm concentration has decreased over the study period. This finding tends to indicate that the MLS now provides greater exposure to a wide variety of sales firms, therefore leading to a higher level of competition with a lower level of concentration for selling firms in this local market.

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    File URL: http://aux.zicklin.baruch.cuny.edu/jrer/papers/pdf/past/vol14n02/v14p107.pdf
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    Bibliographic Info

    Article provided by American Real Estate Society in its journal Journal of Real Estate Research.

    Volume (Year): 14 (1997)
    Issue (Month): 2 ()
    Pages: 107-116

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    Handle: RePEc:jre:issued:v:14:n:2:1997:p:107-116

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    Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
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    Web page: http://www.aresnet.org/

    Order Information:
    Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
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    Web: http://aux.zicklin.baruch.cuny.edu/jrer/about/get.htm

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    1. Zumpano, Leonard V & Elder, Harold W & Crellin, Glenn E, 1993. "The Market for Residential Real Estate Brokerage Services: Costs of Production and Economies of Scale," The Journal of Real Estate Finance and Economics, Springer, vol. 6(3), pages 237-50, May.
    2. Lerman, Robert I. & Yitzhaki, Shlomo, 1984. "A note on the calculation and interpretation of the Gini index," Economics Letters, Elsevier, vol. 15(3-4), pages 363-368.
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    Cited by:
    1. Beck, Jason & Scott, Frank & Yelowitz, Aaron, 2010. "Competition and market structure in local real estate markets," MPRA Paper 27531, University Library of Munich, Germany.

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