|A Model of Real Estate Sales as a Career
Author: Donald Jud and Daniel T. Winkler
Start Page: 481
Abstract: This article develops
a model of the probability that individuals choose careers in real estate sales. The model
is estimated using Census data. Females are found to be significantly more likely than
males to enter the field. For males, the probability of entering the field grows with
schooling up through four years of college, and declines thereafter. For females, the
probability falls with increased schooling beyond high school. Real estate sales is a
career that is more appealing to both males and females with more labor market experience.
For females, the probability of choosing a real estate career rises at a decreasing rate
with experience. For males, the probability grows at an increasing rate. Both females and
males are very responsive in their career choice decisions to changes in real earnings.
The supply price elasticity, evaluated at the mean, is estimated to be +3.18 for males and
+2.76 for females.