Research ArticleOpen accessIn the keywordsEfficiency in the California Real Estate Labor MarketDirk YandellProblem statement: This research explores the extent of market efficiency in the real estate labor market. Given a common commission rate, areas with high average home prices will generate higher agent income per home sold. If markets are efficient with few barriers to entry, additional agents per capita would be expected in high-priced areas, but each home sale would represent … …American Journal of Economics and Business Administration, Vol. 3, Issue 4 · 12 Dec 2011 · 6,977 accessesView PDFCite