Are Brokers' Commission Rates on Home Sales Too High? A Conceptual Analysis

Many people believe that prevailing commission rates for residential real estate brokers are "too high" but do not offer a formal model. This paper presents a general equilibrium model of the housing market in which real estate brokers serve as matching intermediaries. We use this model to construct an illustrative example which is "calibrated" using data representative of a typical housing market.

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Year of publication:	1995-04
Authors:	Arnott, Richard ; Anglin, Paul
Institutions:	Department of Economics, Boston College
Subject:	real estate brokers \| commission rate \| matching technology \| mismatch costs \| idiosyncratic tastes

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Extent:	application/pdf
Series:	Boston College Working Papers in Economics.
Type of publication:	Book / Working Paper
Language:	English
Notes:	The text is part of a series Boston College Working Papers in Economics Number 302. 38 pages
Classification:	R2 - Household Analysis ; H0 - Public Economics. General ; D0 - Microeconomics. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005027804