Education is an investment in which the individual decision to acquire a higher education depends on the probability of higher future earnings potential. The economic benefit of higher education has societal implications as well, since a productive population affects the aggregate economic output of a society. Selma Hepp, of the California Association of REALTORS® and Casey Dawkins, of the University of Maryland, approach the question: Does having college or graduate education make one a more successful real estate agent?
While the relationship between education and an individual’s earnings has been explored widely in numerous professions and industries, and a positive relationship between education and earnings regardless of profession, country, or time period, research focusing on the real estate profession specifically has tried to measure the impact of such variables as education, experience, demographics, age, firm association, and previous work experience on real estate agents’ earnings. It is most often found that earnings are positively affected by education and experience.
Hepp and Dawkins focus on the relationship between post-secondary education and REALTOR® income and estimate the impact of post-secondary schooling. Using recent data on REALTOR® income from the Member Profile Survey produced by the NATIONAL ASSOCIATION OF REALTORS®, the authors model and measure whether, and to what extent, post-secondary education has on REALTOR® income. The analysis also evaluates the impact of holding an NAR certification and/or designation.
Selected Key Findings:
For more information, click here.
Copyright© 2015 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.
Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com