A Note on Agency Size and Brokerage Commission Splits
This paper develops a model to explain the commission split among cooperating real estate brokers operating within a multiple listing service where individual agencies are free to negotiate. The paper provides theoretical and empirical evidence that suggests that the amount of the total commission paid to a cooperating broker is a negative function of the size of the agency that lists the property for sale.
Volume (Year): 8 (1993)
Issue (Month): 2 ()
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References listed on IDEAS
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- James Tobin, 1956. "Estimation of Relationships for Limited Dependent Variables," Cowles Foundation Discussion Papers 3R, Cowles Foundation for Research in Economics, Yale University.
- Yinger, John, 1981. "A Search Model of Real Estate Broker Behavior," American Economic Review, American Economic Association, vol. 71(4), pages 591-605, September.
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