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Affinity Programs and the Real Estate Brokerage Industry

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  • G Stacy Sirmans

    ()
    (Florida State University, Tallahassee, FL)

  • David A. Macpherson

    ()
    (Florida State University, Tallahassee, FL)

Abstract

This study surveys active real estate brokers obtaining information on involvement in affinity programs and referral/relocation networks. Some results regarding affinity involvement are: (a) 13% of respondents reported affinity affilliations, 75% reported no affiliations, and 12% indicated plans to become involved within the next year; (b) about half having affinity affiliations were involved with 2-4 groups; (c) affinity relationships were most often with membership organizations, corporations, and professional organizations; (d) the primary affinity benefits provided were commission reductions, special mortgage packages, and discounted closing services; (e) 38% of respondents reported an increase in profitability die tp affinity affiliation while 21% reported a decrease; and (f) 56% reported an increase in agent productivity. An empirical income model shows that affinity affiliation has a positive effect on broker income. The probit models shows that: (a) participation in affinity arrangements is more likely for larger firms and national franchises but is not sensitive to location; and (b) large firms are more likely to participate in a larger number of affinity relationships.

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Bibliographic Info

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

Volume (Year): 22 (2001)
Issue (Month): 3 ()
Pages: 337-352

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Handle: RePEc:jre:issued:v:22:n:3:2001:p:337-352

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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/

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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. G. Stacy Sirmans & Philip G. Swicegood, 1997. "Determinants of Real Estate Licensee Income," Journal of Real Estate Research, American Real Estate Society, American Real Estate Society, vol. 14(2), pages 137-154.
  2. Michael Glower & Patric H. Hendershott, 1988. "The Determinants of REALTOR Income," Journal of Real Estate Research, American Real Estate Society, American Real Estate Society, vol. 3(2), pages 53-68.
  3. James R. Follain & Terry Lutes & David A. Meier, 1987. "Why Do Some Real Estate Salespeople Earn More Than Others?," Journal of Real Estate Research, American Real Estate Society, American Real Estate Society, vol. 2(1), pages 73-81.
  4. G. Stacy Sirmans & Philip G. Swicegood, 2000. "Determining Real Estate Licensee Income," Journal of Real Estate Research, American Real Estate Society, American Real Estate Society, vol. 20(1), pages 189-204.
  5. Glenn E. Crellin & James R. Frew & G. Donald Jud, 1988. "The Earnings of REALTORS: Some Empirical Evidence," Journal of Real Estate Research, American Real Estate Society, American Real Estate Society, vol. 3(2), pages 69-78.
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Cited by:
  1. Jonathan Wiley & Justin Benefield & Marcus Allen, 2014. "Cyclical Determinants of Brokerage Commission Rates," The Journal of Real Estate Finance and Economics, Springer, vol. 48(1), pages 196-219, January.
  2. John D. Benjamin & Peter Chinloy & Donald Jud & Daniel T. Winkler, 2006. "Franchising in Residential Brokerage," Journal of Real Estate Research, American Real Estate Society, American Real Estate Society, vol. 28(1), pages 61-70.

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