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The Effects of Multicultural Diversity in Real Estate Brokerage

14 Pages Posted: 5 Jan 2007  

Michael T. Bond

Cleveland State University - Finance

Vicky L. Seiler

Johns Hopkins University

Michael J. Seiler

Hawaii Pacific University - Department of Finance

Abstract

This study examines the changing diversity of home buyers and the steps brokerage firms are taking to adapt to these changes. The results reveal that larger firms are experiencing a greater increase in customer diversity. This can be partly explained by their efforts to target diverse groups through sponsored seminars and hiring minority sales professionals. A survey of minority home buyers reveals that minorities have owned fewer homes, earn less and are younger than their non-minority counterparts. Race and income were found to significantly explain reports of greater difficulty on the road to home ownership.

Keywords: diversity, home buyer, brokerage, minority, race, income

JEL Classification: L85, D11, D12, P46, J15, J71, J11

Suggested Citation

Bond, Michael T. and Seiler, Vicky L. and Seiler, Michael J., The Effects of Multicultural Diversity in Real Estate Brokerage. Journal of Real Estate Research Vol. 25, No. 4, 2003. Available at SSRN: https://ssrn.com/abstract=955020

Michael T. Bond (Contact Author)

Cleveland State University - Finance ( email )

1860 E. 18th St.
College of Business Administration
Cleveland, OH 44114-3610
United States
216-226-7990 (Phone)
216-687-9354 (Fax)

Vicky L. Seiler

Johns Hopkins University ( email )

Baltimore, MD 20036-1984
United States

Michael J. Seiler

Hawaii Pacific University - Department of Finance ( email )

1132 Bishop Street, Suite 504
Honolulu, HI 96813
United States
808-544-1827 (Phone)
808-544-9306 (Fax)

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