Firm Size, Dual Brokerage, and National Franchise Affiliation of Real Estate Brokerage Firms: Unexpected Results for the Period 2008-2013

摘要

In this study, we examine the impact of real estate brokerage firm characteristics on real estate prices from 2008 through 2013- We focus on single-family homes and condominiums from Duval County, the largest county in the Northeast Florida real estate market. We find strong evidence to suggest that both home buyers and home sellers will fare better if they associate with small brokerage firms to represent their interest in the purchase/sale transaction. Contrary to earlier published research, but in line with more recent empirical findings, in this study, firms associated with a national franchise garnered lower sales prices.