Real estate continuing education: Rent seeking or improvement in service quality

Benjamin Powell, Evgeny Vorotnikov

Research output: Contribution to journalArticlepeer-review

4 Scopus citations

Abstract

Massachusetts adopted a continuing education component to its licensing requirements for real estate agents in 1999. The Massachusetts Association of Realtors lobbied for this change claiming it would enhance the quality of service for the public. Our regression analysis fails to find any improvement in the quality of service as measured by complaints to the real estate licensing board. We do find that the adoption of continuing education reduced the number of licensed active agents by 39 to 58 percent and increased the income of those who remained by 11 to 17 percent.

Original languageEnglish
Pages (from-to)57-73
Number of pages17
JournalEastern Economic Journal
Volume38
Issue number1
DOIs
StatePublished - Dec 2012

Keywords

  • continuing education
  • occupational licensure
  • real estate
  • rent seeking

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