Real Estate Brokerage and the Housing Market: An Annotated Bibliography

Abstract

A number of facets of real estate brokerage have been examined over time in theoretical and empirical articles appearing in the literature. This article summarizes brokerage research and suggests avenues for future inquiry. In attempting to organize brokerage research, the research is classified into eight broad topical areas: (1) brokerage firm characteristics; (2) broker commissions; (3) time on the market; (4) broker compensation; (5) the effects of brokerage on house prices; (6) regulation of the brokerage industry; (7) legal liability; and (8) international comparisons. In each area, we point out the major focus of the research by summarizing important findings.