A Note on Licensing and the Market for Real Estate Agents
Posted: 20 Oct 2000
This study develops and estimates a model of real estate agent demand and supply. The estimates of the model show that the licensing examination pass rate and the educational requirements set by state licensing boards affect the numbers and incomes of real estate agents. The study further shows that the demand for agents is related to economic activity in the housing market and that the supply of agents is very elastic with respect to agent earnings.
JEL Classification: J4, R3
Suggested Citation: Suggested Citation