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The Effects of Multicultural Diversity in Real Estate Brokerage

  • Michael T. Bond

    ()

    (Cleveland State University, Cleveland, OH 44115)

  • Vicky L. Seiler

    ()

    (Hawaii Pacific University, Honolulu, HI 96813)

  • Michael J. Seiler

    ()

    (Hawaii Pacific University, Honolulu, HI 96813)

Registered author(s):

    This study examines the changing diversity of home buyers and the steps brokerage firms are taking to adapt to these changes. The results reveal that larger firms are experiencing a greater increase in customer diversity. This can be partly explained by their efforts to target diverse groups through sponsored seminars and hiring minority sales professionals. A survey of minority home buyers reveals that minorities have owned fewer homes, earn less and are younger than their non-minority counterparts. Race and income were found to significantly explain reports of greater difficulty on the road to home ownership.

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    File URL: http://pages.jh.edu/jrer/papers/pdf/past/vol25n04/09.529_542.pdf
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    Article provided by American Real Estate Society in its journal Journal of Real Estate Research.

    Volume (Year): 25 (2003)
    Issue (Month): 4 ()
    Pages: 529-542

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    Handle: RePEc:jre:issued:v:25:n:4:2003:p:529-542
    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/Email:

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


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