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Real Estate Agency Practice and Profitability: An Analysis of House Sales and Agency Numbers in Sydney

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  • Chris Eves

Abstract

Large cities provide a broad range of residential property types, as well as a range of socioeconomic locations. This results in a significant variation in residential property prices across both the city itself and the individual suburbs. The only constant across such a diverse range of residential property is the need for the majority of residential property owners to employ the services of a real estate agent to sell their property or to purchase a residential property. This paper will analyse the Sydney residential property market over the period 1992 to 2003 to determine the change in real estate offices numbers over the period, the profitability of real estate agency offices based on the residential house price performance of houses and units in these specific locations and the extent of changing residential house prices on agency profitability. Suburbs have been selected to provide a full range of housing types, socio-economic areas, older established and developing residential suburbs and location from the CBD.

Suggested Citation

  • Chris Eves, 2005. "Real Estate Agency Practice and Profitability: An Analysis of House Sales and Agency Numbers in Sydney," ERES eres2005_169, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2005_169
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    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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