Measuring the Efficiency of Residential Real Estate Brokerage Firms
Anderson, Randy I., Fok, Robert, Zumpano, Leonard V., Elder, Harold W., The Journal of Real Estate Research
Randy I. Anderson*
Leonard V Zumpano***
Harold W. Elder****
Abstract. This article measures overall, allocative, technical, pure technical and scale efficiency levels for a sample of residential real estate brokerage firms using data envelopment analysis, a linear-programming technique. The results suggest that real estate brokerage firms operate inefficiently. Inefficiencies are primarily a function of suboptimal input allocations and the failure to operate at constant returns to scale rather than from poor input utilization. Regression analysis is employed to determine which firm and/or market characteristics affect efficiency levels. The …
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Publication information: Article title: Measuring the Efficiency of Residential Real Estate Brokerage Firms. Contributors: Anderson, Randy I. - Author, Fok, Robert - Author, Zumpano, Leonard V. - Author, Elder, Harold W. - Author. Journal title: The Journal of Real Estate Research. Volume: 16. Issue: 2 Publication date: January 1, 1998. Page number: 139+. © American Real Estate Society Oct-Dec 2008. Provided by ProQuest LLC. All Rights Reserved.
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