Abstract
This study evaluates the determinants of percentage commission rates in the residential brokerage industry. The model developed here predicts that market share of the brokerage firm, property selling difficulty, and prevailing market conditions influence commission rates. Empirical analysis using a sample of 14,891 condominium transactions from the Fort Lauderdale, Florida area provides support for the model's predictions. © 2012 Springer Science+Business Media, LLC.
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Wiley, J. A., Benefield, J. D., & Allen, M. T. (2014). Cyclical Determinants of Brokerage Commission Rates. Journal of Real Estate Finance and Economics, 48(1), 196–219. https://doi.org/10.1007/s11146-012-9387-7
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