The Education of Real Estate Salespeople and the Value of the Firm
In order to protect the public, most states require salespeople and brokers to meet specific licensing requirements, typically in the form of classroom instruction and/or successful completion of an examination. Frequently, however, many real estate brokers require their sales staff to undertake education that exceeds these minimum requirements. In this study, we derive a theoretical model that shows how optimally-timed, firm provided education that exceeds legal minimums can increase staff productivity, reduce litigation risks and perhaps raise and/or maximize the expected value of the firm.
Volume (Year): 20 (2000)
Issue (Month): 1 ()
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- James D. Shilling & C. F. Sirmans, 1988. "The Effects of Occupational Licensing on Complaints Against Real Estate Agents," Journal of Real Estate Research, American Real Estate Society, vol. 3(2), pages 1-9.
- Karl L. Guntermann & Richard L. Smith, 1988. "Licensing Requirements, Enforcement Effort and Complaints Against Real Estate Agents," Journal of Real Estate Research, American Real Estate Society, vol. 3(2), pages 11-20.
- Linda L. Johnson & Christine Loucks, 1986. "The Effect of State Licensing Regulations on the Real Estate Brokerage Industry," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 14(4), pages 567-582.
- 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, vol. 2(1), pages 73-81.
- Michael Glower & Patric H. Hendershott, 1988. "The Determinants of REALTOR Income," Journal of Real Estate Research, American Real Estate Society, vol. 3(2), pages 53-68.
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