Real Estate Appraisers Who Share Sales Information: Are Appraisers Unique or Just Weird?

Real estate appraisers represent a unique and very interesting form of business organization characterized by both cooperation and competition that is quite unlike any of the normal models of competition (such as perfect competition, oligopoly, or monopoly) that were studied in introductory economic theory courses. The interesting part for an economist is that appraisers are competitors and yet seem to depend on each other. Appraisers are clearly competitors; that is, they all compete for the same set of business opportunities available in the marketplace, just like farmers or barbers or dentists compete for a share of their perspective markets. At the same time, appraisers cooperate through the sharing of information about comparable sales, both through informal networks as well as formally through a sales data bank.


Issue Date:
2007
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/190673
Published in:
Journal of the ASFMRA (American Society of Farm Managers and Rural Appraisers), 2007
Page range:
155-164
Total Pages:
10




 Record created 2017-04-01, last modified 2017-08-29

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