Using an Ordered Probit Regression Model to Assess the Performance of Real Estate Brokers

The ordered probit regression model is used to investigate domestic real estate brokers in Taiwan, in order to determine the factors affecting the listings of realtors and provide a reference for the domestic real estate brokerage market. Based on empirical analysis, this study found that the Wald Chi-Square of six independent variables reached a significance level of 5%, while the other two independent variables reached 10%. The empirical results indicate that the base pay plus commission system brings in more listings than a commission system and fixed pay. A regular chain type has more listings than a voluntary chain type or a non-chain type. The six variables which reach significant level are senior high (vocational) school, university, position, years of work, the square of the number of years of work, and hours of work per week.