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Can I read The Real Estate Brokerage: Commissioned Sales and Market Values on EtoBox?
The Real Estate Brokerage: Commissioned Sales and Market Values by Chinloy, Peter (author) is a Economics, Econometrics and Finance article available to read on EtoBox.
What is The Real Estate Brokerage: Commissioned Sales and Market Values about?
This paper develops a valuation model of the real estate brokerage firm. A brokerage has a positive market valuation, while having a negligible book value. Options theory is used to value the firm. The firm writes an option by taking a contingent claim on income generated, through the commission split. The firm holds other options, including the right to modify the commission split.A valuation model for the firm permits a hiring strategy to be developed. Brokers vary by characteristics such as experience. Whether it is better to hire an experienced licensee over a rookie depends on the expected future career with the firm, commissions generated, and the achievement of sales targets. The value of a superstar to the firm is determined, to permit incentive structures on the commission to be generated.
Who reads The Real Estate Brokerage: Commissioned Sales and Market Values?
It is typically read by researchers, students, and practitioners in Economics, Econometrics and Finance.
- Author
- Chinloy, Peter (author)
- Publisher
- Informa UK Limited
- Published
- 1988
- Language
- EN
- Field
- Economics, Econometrics and Finance (Social Sciences)