Real Estate Brokerage: Factors That May Affect Price Competition

Topics:
Property Management,
Real Estate Portfolio Management
Tags:
Business Operations,
Real Estate
Source:
U.S. General Accounting Office

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Overview: Consumers paid an estimated $61 billion in residential real estate brokerage fees in 2004. Because commission rates have remained relatively uniform--regardless of market conditions, home prices, or the effort required selling a home - some economists have questioned the extent of price competition in the residential real estate brokerage industry. The report discusses the factors affecting price competition in the residential real estate brokerage industry, the status of the use of the Internet in residential real estate brokerage and potential barriers to its increased use, and the effect on competition and consumers of residential real estate brokerage by state-chartered banks in states that permit this practice.

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Format: PDF | Size: 241KB | Date: Aug 2005 | Pages: 32

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