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An Examination of the Earnings of Real Estate Appraisers

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Abstract

This paper investigates the factors that influence the earnings of real estate appraisers. Seven types of factors are identified and examined: experience, effort, education, professional training and credentials, personal characteristics, firm characteristics, and market characteristics. Appraiser earnings are found to be consistent with the standard human capital model. Earnings appear to be most affected by work effort, appraisal certification, and ownership stake. In addition, the hypothesis that the earnings of male and female appraisers are equal cannot be rejected.

Suggested Citation

  • Barry A. Diskin & Dean H. Gatzlaff, 1994. "An Examination of the Earnings of Real Estate Appraisers," Journal of Real Estate Research, American Real Estate Society, vol. 9(4), pages 507-524.
  • Handle: RePEc:jre:issued:v:9:n:4:1994:p:507-524
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    File URL: http://pages.jh.edu/jrer/papers/pdf/past/vol09n04/v09p507.pdf
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    References listed on IDEAS

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    1. Kenny, Lawrence W, et al, 1979. "Returns to College Education: An Investigation of Self-Selection Bias Based on the Project Talent Data," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 20(3), pages 775-789, October.
    2. Kennedy, Peter E, 1981. "Estimation with Correctly Interpreted Dummy Variables in Semilogarithmic Equations [The Interpretation of Dummy Variables in Semilogarithmic Equations]," American Economic Review, American Economic Association, vol. 71(4), pages 801-801, September.
    3. Welch, Finis, 1979. "Effects of Cohort Size on Earnings: The Baby Boom Babies' Financial Bust," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages 65-97, October.
    4. Finis Welch, 1979. "Effects of Cohort Size on Earnings: The Baby Boom Babies' Financial Bust," UCLA Economics Working Papers 146, UCLA Department of Economics.
    5. 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.
    6. 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.
    7. Halvorsen, Robert & Palmquist, Raymond, 1980. "The Interpretation of Dummy Variables in Semilogarithmic Equations," American Economic Review, American Economic Association, vol. 70(3), pages 474-475, June.
    8. Freeman, Richard B, 1977. "The Decline in the Economic Rewards to College Education," The Review of Economics and Statistics, MIT Press, vol. 59(1), pages 18-29, February.
    9. 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, vol. 3(2), pages 69-78.
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    Cited by:

    1. G. Stacy Sirmans & Philip G. Swicegood, 1997. "Determinants of Real Estate Licensee Income," Journal of Real Estate Research, American Real Estate Society, vol. 14(2), pages 137-154.
    2. G. Martin Izzo & Barry E. Langford, 2008. "Data analysis with ordinal and interval dependent variables: examples from a study of real estate salespeople," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 1, pages 103-116, December.
    3. Marvin L. Wolverton & Donald Epley, 1999. "Structural Analysis of U.S. Appraiser Income," Journal of Real Estate Research, American Real Estate Society, vol. 18(2), pages 377-393.
    4. Jessica Shui & Shriya Murthy, 2017. "Under What Circumstances do First-time Homebuyers Overpay? – An Empirical Analysis Using Mortgage and Appraisal Data," FHFA Staff Working Papers 17-03, Federal Housing Finance Agency.
    5. Rudolph, Patricia M., 1998. "Will Mandatory Licensing and Standards Raise the Quality of Real Estate Appraisals? Some Insights from Agency Theory," Journal of Housing Economics, Elsevier, vol. 7(2), pages 165-179, June.
    6. Jessica Shui & Shriya Murthy, 2018. "Are Appraisal Management Companies Value-Adding? – Stylized Facts from AMC and Non-AMC Appraisals," FHFA Staff Working Papers 18-01, Federal Housing Finance Agency.
    7. 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.

    More about this item

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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