scholarly journals Ethnic Segmentation of Real Estate Agent Practice in the Urban Housing Market

1985 ◽  
Vol 75 (1) ◽  
pp. 58-68 ◽  
Author(s):  
Risa Palm
Author(s):  
Russell Walker

Read any news report on the housing market, and inevitably it will include facts or figures from the real estate data giant Zillow.com. The company initially set out to solve two key economic frictions in the real estate industry information asymmetry and the principal-agent problem by empowering users to access real-time housing data and eliminating the need for realtors. The company soon realized, however, that American homeowners and buyers were not willing to give up the traditional real estate agent model and changed course. In the end, Zillow decided to join rather than replace the middlemen in the real estate industry.


2017 ◽  
Vol 5 (4) ◽  
pp. 350-368
Author(s):  
Elizabeth Korver-Glenn

The real estate brokerage industry has long perpetuated overt discrimination against minority housing consumers, but we know little about how it may reproduce inequality through less overt means. In this article, I highlight real estate agents’ (REAs) reliance on social networks as key to how this “new inequality” happens. Specifically, I investigate the contextual factors that enable white agents to maintain predominantly white networks and how disparate-impact consequences for minority home buyers and sellers emerge when white agents deploy their networks in ordinary housing situations. My examination relies on one year of ethnographic research with 10 REAs and 49 in-depth interviews with REAs, home buyers, and home sellers in the Houston housing market. I begin my analysis by documenting agents’ racially stratified networks. I then unpack how agent pay structure and status as market gatekeepers supported the persistence of white agents’ white networks and constrained minority agents’ business opportunities. Finally, I show how white agents’ reliance on white networks came together with other widely shared practices to negatively affect minority home buyers and sellers, excluding them from for-sale homes and competitive customer service. I conclude by discussing the implications of my findings for mitigating housing market inequality.


Author(s):  
Elizabeth Korver-Glenn

This book examines how housing market professionals—including housing developers, real estate agents, mortgage lenders, and appraisers—construct twenty-first-century urban housing markets in ways that contribute to or undermine racial segregation. Drawing on extensive ethnographic and interview data collected in Houston, Texas, the book shows that housing market professionals play a key role in connecting people—or refusing to connect people—to housing resources and opportunities. They make these brokering decisions through reference to racist or equitable, people-affirming ideas. Typically, White housing market professionals draw from racist ideas that rank order people and neighborhoods according to their perceived economic and cultural housing market value, entwining racism with their housing market activities and interactions. Racialized housing market routines encourage this entwinement by naturalizing racism as a professional tool. The book tracks how professionals broker racism across the housing exchange process—from the home’s construction to real estate brokerage, mortgage lending, and home appraisals. In doing so, it shows that professionals make housing exchange a racialized process that contributes to neighborhood inequality and racial segregation. However, in contrast to the racialized status quo, a small number of housing market professionals—almost all of color—draw on equitable, people-affirming ideas and strategies to extend equal opportunities to individuals and neighborhoods, denaturalizing housing market racism. The book highlights the imperative to interrupt the racism that pervades White housing market professionals’ work, dismantle the racialized routines that underwrite such racism, and cultivate a fair housing market.


2021 ◽  
pp. 0308518X2198894
Author(s):  
Peter Phibbs ◽  
Nicole Gurran

On the world stage, Australian cities have been punching above their weight in global indexes of housing prices, sparking heated debates about the causes of and remedies for, sustained house price inflation. This paper examines the evidence base underpinning such debates, and the policy claims made by key commentators and stakeholders. With reference to the wider context of Australia’s housing market over a 20 year period, as well as an in depth analysis of a research paper by Australia’s central Reserve Bank, we show how economic theories commonly position land use planning as a primary driver of new supply constraints but overlook other explanations for housing market behavior. In doing so, we offer an alternative understanding of urban housing markets and land use planning interventions as a basis for more effective policy intervention in Australian and other world cities.


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