The Impact of Agent Experience on the Real Estate Transaction

This research examines the productivity of real estate agents who acquire and maintain their real estate salesperson’s license for two years or less (rookie) relative to those who have been licensed agents for 10 years or more (veteran). The findings show that properties listed by rookie agents will...

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Bibliographic Details
Published in:Journal of housing research 2012-01, Vol.21 (1), p.67-82
Main Authors: Waller, Bennie D., Jubran, Ali M.
Format: Article
Language:English
Subjects:
Agency
Bricks
Careers
Economic conditions
Employment
Hardwoods
Housing
Housing prices
Impact analysis
Interest rates
Licenses
Licensing
Literature reviews
Productivity
Professional licensing
Property listings
Real estate
Real estate agencies
Real estate agents & brokers
Real estate economics
Real estate industry
Real estate market
Real estate sales
Residential real estate
Sales techniques
Salesperson
Selling price
Studies
U.S.A
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Summary:This research examines the productivity of real estate agents who acquire and maintain their real estate salesperson’s license for two years or less (rookie) relative to those who have been licensed agents for 10 years or more (veteran). The findings show that properties listed by rookie agents will sell for approximately 10% less than those listed by more experienced agents. Properties listed by rookie agents also endure a significantly longer marketing duration than those of more experienced agents. Properties listed by veteran agents also sell for approximately 2% more than those of rookie agents and did so 32% faster. Finally, while the inexperienced agent does not significantly influence the probability of a sale, the more experienced agent does significantly increase the probability of a successful transaction.
ISSN:1052-7001
2691-1337
DOI:10.1080/10835547.2012.12092052