Real Estate Brokerage Firm Characteristics and Home Sales Price Outcomes
Jason Beck, Michael Toma, Andrew Page

Abstract
This paper examines the effect of real estate brokerage firm characteristics, such as size and national affiliation, on home sales outcomes. It uses a hedonic pricing model with data from the Chatham County, Georgia real estate market from 2006 to 2010. The hedonic pricing model yields results that suggest larger brokerage firms obtain higher sales prices, while national affiliation is associated with lower sales price. The results also control for internal and external housing characteristics that are capitalized into the real sales prices of the housing transactions analyzed.

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