Social Inefficiencies in the Real Estate Brokerage Industry

房地产经纪行业的社会效率低下

• 批准号: 1061970
• 负责人: Panle Barwick
• 金额: $ 28.15万
• 依托单位: National Bureau of Economic Research Inc
• 依托单位国家: 美国
• 项目类别: Standard Grant
• 财政年份: 2011
• 资助国家: 美国
• 起止时间: 2011-03-15 至 2017-02-28
• 项目状态: 已结题
• 来源: https://www.nsf.gov/awardsearch/showAward?AWD_ID=1061970&HistoricalAwards=false
• 关键词: Social; Inefficiencies; Real; Estate; Brokerage

This award funds research that will bring new data to bear on important questions about how the real estate brokerage industry affects the way that residential housing markets function. The major goal is to examine the effect of the current commission system and the market structure of the market for brokerage services on market outcomes. The rich data set that covers all properties listed in the Multiple Listing Service (MLS) from January 1998 to January 2008 in all sixty cities and towns within a fifteen-mile radius ofdowntown Boston, with a total of 290,378 observations and 20,791 agents. In addition, the research team will merge this data set with several other data sources, including the Massachusetts license database, a commercial dataset on changes in ownership from the Warren group and data from the Home Mortgage DisclosureAct, as well as various Census datasets. The data set is ideally suited for a variety of important questions, including whether or not free entry of real estate agents is socially efficient, how realtors and brokerage firms affect home buyers' choices, and the role of commissions in determining themarket outcome.This research will use state-of-the art data analysis methods to improve our understanding of an important industry. The results of this research should benefit state and local policymakers, real estate regulators, and the broader community interested in how housing market outcomes contribute to the macroeconomy.

该奖项资助的研究将带来新的数据，以承担有关真实的房地产经纪行业如何影响住宅市场运作的方式的重要问题。 主要目的是研究现行佣金制度和经纪服务市场的市场结构对市场结果的影响。 丰富的数据集，涵盖了1998年1月至2008年1月在波士顿市中心15英里半径内的所有60个城市和城镇的多重上市服务（MLS）中列出的所有属性，共有290，378个观察结果和20，791个代理人。此外，研究小组还将把这一数据集与其他几个数据源合并，包括马萨诸塞州的许可证数据库、沃伦集团所有权变化的商业数据集、《住房抵押贷款披露法案》的数据，以及各种人口普查数据集。该数据集非常适合各种重要问题，包括真实的房地产经纪人的自由进入是否具有社会效率，房地产经纪人和经纪公司如何影响购房者的选择，以及佣金在决定市场结果中的作用。这项研究将使用最先进的数据分析方法来提高我们对一个重要行业的理解。 这项研究的结果应该有利于州和地方政策制定者、真实的房地产监管机构以及对住房市场结果如何对宏观经济做出贡献感兴趣的更广泛的社区。