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*
Robert Fok**
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.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.
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