Real estate firms attempting to maintain or increase their market share want to know the characteristics of the firm or individual agents that are important to market participants. A survey of homeowners conducted during August 1987 found the following: 1) the individual agent is more important than the firm itself in the selection of a real estate firm; 2) knowing an agent of the firm was the primary factor considered in the selection of a real estate firm; and 3) agent characteristics of selling ability, competence, integrity, knowledge of the market, and understanding the client's needs and concerns were most important.
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Johnson et al. (1988) studied this question.
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