Evaluating the Impact of Economic Variables on the Decision to Obtain a Real Estate License in California

Andres Jaureguia Department of Finance and Business Law and Gazarian Real Estate Center, Craig School of Business, California State University, Fresno, CA, USACorrespondence[email protected]

Jacquelin Currya Department of Finance and Business Law and Gazarian Real Estate Center, Craig School of Business, California State University, Fresno, CA, USA

Marcus T. Allenb Department of Economics and Finance, Lutgert College of Business, Florida Gulf Coast University, Fort Myers, FL, USA

Emil Milevojc Department of Management, Craig School of Business, California State University, Fresno, CA, USA

Abstract

We provide first evidence of the economic factors that motivate individuals to obtain a real estate license to potentially pursue a career in real estate sales. We focus on four key housing indicators: median house price, median days on the market, housing affordability, and housing sales performance. Our results indicate that house price is the main driving force for individuals to take the California real estate salesperson license exam as well as for those real estate salespersons wanting to upgrade to the broker license.

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Notes

1 For a comprehensive survey, refer to Joshi and Kuhn (Citation2011).

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Evaluating the Impact of Economic Variables on the Decision to Obtain a Real Estate License in California

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Evaluating the Impact of Economic Variables on the Decision to Obtain a Real Estate License in California

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