The Residential Real Estate Brokerage Industry: What Would More Vigorous Competition Look Like?

24 Pages Posted: 13 Oct 2008

See all articles by Lawrence J. White

Lawrence J. White

New York University (NYU) - Leonard N. Stern School of Business, Department of Economics

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Date Written: April 2006

Abstract

The residential real estate brokerage industry represents a troubling instance of false appearances. Though the numbers of sales agents and brokerage firms, plus easy entry, would appear to offer the promise of vigorous competition, actual practices in the industry have caused reality to fall substantially short of the potential. After recounting the history of the transition of the securities industry from fixed and non-competitive stock brokerage commissions to far more vigorous competition, I draw on that experience to describe what vigorous competition in the residential real estate brokerage industry would look like. I also suggest public policy measures that would help bring about more vigorous competition.

Keywords: Residential real estate, brokerage, commissions, competition, multiple listing service

Suggested Citation

White, Lawrence J., The Residential Real Estate Brokerage Industry: What Would More Vigorous Competition Look Like? (April 2006). NYU Working Paper No. EC-06-06. Available at SSRN: https://ssrn.com/abstract=1281950

Lawrence J. White (Contact Author)

New York University (NYU) - Leonard N. Stern School of Business, Department of Economics ( email )

44 West 4th Street
Suite 9-160
New York, NY NY 10012
United States

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