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Technology and Real Estate Brokerage Firm Financial Performance

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Author Info

  • John D. Benjamin

    ()
    (Kogod School of Business American University 4400 Massachusetts Ave., NW Washington, DC 20016)

  • Peter Chinloy

    (Kogod School of Business American University 4400 Massachusetts Ave., NW Washington, DC 20016)

  • Donald Jud

    ()
    (Bryan School of Business and Economics University of North Carolina at Greensboro Greensboro, NC 27412-5001)

  • Daniel T. Winkler

    ()
    (Bryan School of Business and Economics University of North Carolina at Greensboro Greensboro, NC 27412-5001)

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    Abstract

    This study investigates the impact of Internet usage on the financial performance of residential real estate brokerage firms using a database of over 1,700 observations. Factor loadings and a factor score for Internet usage are developed. The results show that Internet use is positively related to revenue and net income, and negatively related to net margin. In a second stage analysis, Internet use is found to be positively associated with franchise affiliation, affiliation with a referral /relocation network and firm size, while negatively related to firm age, single-office firms and location in the West and South (relative to the Northeast).

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    File URL: http://aux.zicklin.baruch.cuny.edu/jrer/papers/pdf/past/vol27n04/vol27n04a03.pdf
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    Bibliographic Info

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

    Volume (Year): 27 (2005)
    Issue (Month): 4 ()
    Pages: 409-426

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    Handle: RePEc:jre:issued:v:27:n:4:2005:p:409-426

    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
    Email:
    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
    Email:
    Web: http://aux.zicklin.baruch.cuny.edu/jrer/about/get.htm

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    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. G. Stacy Sirmans & Philip G. Swicegood, 2000. "Determining Real Estate Licensee Income," Journal of Real Estate Research, American Real Estate Society, vol. 20(1), pages 189-204.
    2. John D. Benjamin & G. Donald Jud & G. Stacy Sirmans, 2000. "What Do We Know About Real Estate Brokerage?," Journal of Real Estate Research, American Real Estate Society, vol. 20(1), pages 5-30.
    3. Michael A. Abelson & K. Michele Kacmar & Ellen F. Jackofsky, 1990. "Factors Influencing Real Estate Brokerage Sales Staff Performance," Journal of Real Estate Research, American Real Estate Society, vol. 5(2), pages 265-276.
    4. Zumpano, Leonard V. & Johnson, Ken H. & Anderson, Randy I., 2003. "Internet use and real estate brokerage market intermediation," Journal of Housing Economics, Elsevier, vol. 12(2), pages 134-150, June.
    5. Randy I. Anderson & Robert Fok & Leonard V. Zumpano & Harold W. Elder, 1998. "Measuring the Efficiency of Residential Real Estate Brokerage Firms," Journal of Real Estate Research, American Real Estate Society, vol. 16(2), pages 139-158.
    6. 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.
    7. Marsha L. Richins & William C. Black & C.F. Sirmans, 1987. "Strategic Orientation and Marketing Strategy: An Analysis of Residential Real Estate Brokerage Firms," Journal of Real Estate Research, American Real Estate Society, vol. 2(2), pages 41-54.
    8. Leonard V. Zumpano & Harold W. Elder, 1994. "Economies of Scope and Density in the Market for Real Estate Brokerage Services," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 22(3), pages 497-513.
    9. Jud, G Donald & Rogers, Ronald C & Crellin, Glenn E, 1994. "Franchising and Real Estate Brokerage," The Journal of Real Estate Finance and Economics, Springer, vol. 8(1), pages 87-93, January.
    10. James R. Frew & G. Donald Jud, 1986. "The Value of a Real Estate Franchise," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 14(2), pages 374-383.
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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.

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