A Model of Real Estate Sales as a Career Choice
AbstractThis article develops a model of the probability that individuals choose careers in real estate sales. The model is estimated using Census data. Females are found to be significantly more likely than males to enter the field. For males, the probability of entering the field grows with schooling up through four years of college, and declines thereafter. For females, the probability falls with increased schooling beyond high school. Real estate sales is a career that is more appealing to both males and females with more labor market experience. For females, the probability of choosing a real estate career rises at a decreasing rate with experience. For males, the probability grows at an increasing rate. Both females and males are very responsive in their career choice decisions to changes in real earnings. The supply price elasticity, evaluated at the mean, is estimated to be +3.18 for males and +2.76 for females.
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Bibliographic InfoArticle provided by American Real Estate Society in its journal Journal of Real Estate Research.
Volume (Year): 18 (1999)
Issue (Month): 3 ()
Contact details of provider:
Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
Web page: http://www.aresnet.org/
Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
Find related papers by JEL classification:
- L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
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