Penn State University completed a 12-market study that looked at patterns of competition in each market between brokerage firms. Some of the highlights:
- Real estate sales is an intensely competitive business, surprising since the real estate boom was expected to reduce competition.
- Franchised firms have a larger market share than local firms.
- No single firm dominates any one market.
- Sellers are more informed about property values.
- Consumers are demanding and brokers are providing a wider range of services.
- No evidence of increases in For Sale By Owner and Discount Brokers.