Technology and Real Estate Brokerage Firm Financial Performance

18 Pages Posted: 27 Dec 2006

See all articles by John D. Benjamin

John D. Benjamin

American University - Kogod School of Business

Peter T. Chinloy

American University - Department of Finance and Real Estate

G. Donald Jud

University of North Carolina (UNC) at Greensboro - Department of Accounting and Finance

Daniel T. Winkler

University of North Carolina at Greensboro

Abstract

This study investigates the impact of Internet usage on the financial performance of residential real estate brokerage firms using a database of over 1,700 observations. Factor loadings and a factor score for Internet usage are developed. The results show that Internet use is positively related to revenue and net income, and negatively related to net margin. In a second stage analysis, Internet use is found to be positively associated with franchise affiliation, affiliation with a referral/relocation network and firm size, while negatively related to firm age, single-office firms and location in the West and South (relative to the Northeast).

Keywords: Internet, financial performance, brokerage, technology, residential

JEL Classification: L85, C45, L10, L11, O30, O31, O32, O33

Suggested Citation

Benjamin, John D. and Chinloy, Peter and Jud, G. Donald and Winkler, Daniel T., Technology and Real Estate Brokerage Firm Financial Performance. Journal of Real Estate Research, Vol. 27, No. 4, 2006. Available at SSRN: https://ssrn.com/abstract=953761

John D. Benjamin (Contact Author)

American University - Kogod School of Business ( email )

4400 Massachusetts Avenue NW
Department of Finance
Washington, DC 20016
United States
(202) 885-1892 (Phone)
(202) 885-1946 (Fax)

Peter Chinloy

American University - Department of Finance and Real Estate ( email )

Kogod School of Business
4400 Massachusetts Ave., N.W.
Washington, DC 20016-8044
United States
202-885-1951 (Phone)
202-885-1992 (Fax)

G. Donald Jud

University of North Carolina (UNC) at Greensboro - Department of Accounting and Finance ( email )

P.O. Box 26165
Greensboro, NC 27412
United States
336-334-3091 (Phone)
336-334-4141 (Fax)

Daniel T. Winkler

University of North Carolina at Greensboro ( email )

P.O.Box 26170
Greensboro, NC 27412
United States

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