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Do intrinsic rewards matter for Swedish real estate brokers? A quantitative empirical generalization
University of Gävle, Faculty of Education and Business Studies, Department of Business and Economic Studies, Business administration. KTH, Skolan för arkitektur och samhällsbyggnad (ABE).ORCID iD: 0000-0002-7702-812x
University of Gävle, Faculty of Education and Business Studies, Department of Business and Economic Studies, Business administration.ORCID iD: 0000-0002-0044-1354
(English)Manuscript (preprint) (Other academic)
Abstract [en]

Purpose - Intrinsic motivation affects job satisfaction and turnover intention. Still, previous motivational studies among real estate brokers (brokers) have primarily focused on extrinsic rewards leaving intrinsic rewards/motivation practically unexplored. The purpose of this study is therefore to evaluate the role of both satisfaction with intrinsic rewards (SIR) and satisfaction with extrinsic rewards (SER) on job satisfaction and turnover intention among Swedish brokers.

Design/methodology/approach - This article is an empirical generalization and extension of Mosquera et al.’s (2020) article conducted among brokers in Portugal. Using a sample of 910 Swedish brokers, the study analyzes a conceptual framework and tests hypotheses by using partial least squares (PLS).

Findings - Results indicate that SIR has a very strong impact on job satisfaction, which is not the case in the Portuguese sample. On the other hand, SER does not have an impact on job satisfaction, which is the case in the Portuguese sample. SIR does not have an impact on turnover intention in the Swedish sample, whereas SER does. Job satisfaction has twice the positive impact on turnover intention in the Swedish sample compared to the Portuguese. Furthermore, job satisfaction mediates the relationship between SIR/SER and turnover intention.

Research limitations/implications - Findings of this study extend the existing literature of satisfaction with extrinsic and in particular intrinsic rewards on job satisfaction and turnover intention in the context of the brokerage industry. The most interesting difference between the samples is that Swedish brokers display much higher levels of satisfaction with intrinsic rewards. On the other hand, Swedish brokers appear to be less driven by extrinsic rewards, which is not in line with prior studies within brokerage.

Practical implications - Both managers and students planning to become brokers should consider that SIR has a stronger impact on job satisfaction than SER. What are perceived as intrinsic rewards, however, is highly subjective, which is troublesome from a managerial perspective, even more so as SIR is much harder to influence than SER. Given that intrinsic motivation is primarily a consequence of needs fulfillment, screening of applicants for person-job fit ought to increase job satisfaction and reduce turnover given its focus on the congruence between job demands and worker’s needs, respectively what a job provides and the worker’s needs.

Originality/value - This study contributes to the brokerage research field by indicating that being a broker differs substantially between countries and that intrinsic rewards matter for Swedish brokers.

Keywords [en]
Real estate brokers, Motivation, Job satisfaction, Turnover intentions
National Category
Business Administration
Identifiers
URN: urn:nbn:se:hig:diva-42407OAI: oai:DiVA.org:hig-42407DiVA, id: diva2:1773331
Available from: 2022-11-15 Created: 2023-06-22 Last updated: 2023-06-22Bibliographically approved
In thesis
1. The impact of motivation and person-job fit on employee turnover among Swedish real estate brokers: A mixed method approach
Open this publication in new window or tab >>The impact of motivation and person-job fit on employee turnover among Swedish real estate brokers: A mixed method approach
2022 (English)Doctoral thesis, comprehensive summary (Other academic)
Abstract [en]

Residential real estate is a vital part of the economy, and homes are important for individuals for both financial and emotional reasons. Residential homes change owners for numerous reasons, and there is a need for these transactions to be secure and efficient from both the economic and individual perspective. The general idea of residential real estate brokerage is to facilitate these transactions securely and efficiently. Real estate brokerage has therefore captured both media as well as scholarly interest. Some scholars even argue that brokerage is a relevant research and literature field of its own. Like other occupations within sales, the brokerage industry suffers from problems connected to recruiting and retaining employees, as put forth by several spokespersons within the industry and scholars alike. Prior studies argue that there is a need for further studies that describe the occupational life cycle of brokers and employee turnover antecedents, such as intrinsic motivation. Hence, the overarching purpose of this thesis is to describe and analyze occupational turnover and its antecedents among Swedish real estate brokers. This thesis sprung out of a firsthand occupational experience of Swedish brokerage, curiosity, and an abductive stance toward knowledge creation. It is primarily explorative, and the embedded articles consist of different types of methodologic approaches and therefore also different ways of gathering data such as interviews, surveys, and registered data. All data solely involves Swedish real estate brokers. Results of the four articles show that the occupational life cycle of brokers is significantly longer than expected and that Swedish brokers display high levels of work-related intrinsic motivation, occasionally rooted in affective commitment towards customers and gained trust from sellers. Furthermore, being driven by gained trust and customer relations has a positive effect on person-job fit which in turn reduces turnover intentions. A majority of the results within the four articles are not in line with prior studies, which is interesting and prompts speculation. The service landscape of brokerage, and particularly Swedish brokerage due to the broker’s intermediary role and personal responsibility for the entire transaction, arguably drives intrinsic motivation and reduces turnover. This is enhanced by the high educational threshold for becoming a broker in Sweden. This thesis contributes to the literature field of brokerage by providing insights about what motivates brokers and the theoretical field of person-job fit by suggesting ways of improving the operationalization and the validity of person-job fit.

Abstract [sv]

Ägda privatbostäder är en viktig del av ett lands ekonomi. En bostad är även viktig ur ett individperspektiv eftersom bostaden är förknippad med såväl känslor som pengar. Behovet av och typen av bostad förändras under livets gång, vilket leder till bostadsbyten. Det ligger både i samhällets och individens intresse att dessa överlåtelser sker så säkert och smidigt som möjligt. En fastighetsmäklares primära uppgift, sett ur ett samhällsperspektiv, är just att underlätta säkra och smidiga överlåtelser. Givet den emotionella och finansiella betydelsen av bostäder är det inte konstigt att fastighetsmäkleri har både medias och forskares uppmärksamhet.

Flertalet forskare argumenterar för att fastighetsmäkleri är ett viktigt och intressant ämne för forskning. Precis som andra branscher inom försäljning, har branschen svårt att anställa och behålla mäklare. Tidigare studier visar att det finns ett behov av ytterligare studier som undersöker hur länge mäklare stannar kvar i yrket och vad som ger en mäklare inre motivation samt eventuella samband mellan dessa faktorer.

Denna avhandlings övergripande syfte är att beskriva och analysera antalet år i yrket samt de påverkande faktorerna. Denna avhandling utgår från egna upplevelser av branschen, nyfikenhet och ett abduktivt förhållningssätt till kunskapsproduktion. Avhandlingen är till största delen utforskande och artiklarna som ingår är baserade på olika typer av data som inhämtats genom intervjuer, enkäter och registerdata. All data som används i avhandlingen innefattar svenska mäklare.

Resultaten av de fyra artiklar som ingår i avhandlingen visar att mäklare är kvar i yrket betydligt länge än vad branschen och forskare trott och att mäklare finner yrket inre motiverande och att denna motivation ofta är rotad i ett positivt känslomässigt engagemang för kunderna och önskan att få kundernas förtroende. Att vara inre motiverad av kundernas förtroende påverkar i sin tur positivt hur väl mäklarna själva anser att de passar i yrket. Vilket i sin tur starkt påverkar sannolikheten att de stannar kvar i yrket.

Majoriteten av resultaten från de fyra artiklarna är inte i linje med tidigare studier, vilket är intressant och skapar utrymme för spekulation. Det kan vara så att det personliga ansvaret för hela överlåtelsen, mellanmansrollen och den förhållandevis höga utbildningen som karaktäriserar den svenska mäklarkåren inverkar positivt på den inre motivationen, vilket i sin tur ökar antalet år i yrket. Avhandlingen bidrar till litteraturfältet fastighetsmäkleri med insikter om mäklare och till det teoretiska fältet person-job fit med förslag som kan förbättra operationaliseringen och validiteten av person-job fit.

Place, publisher, year, edition, pages
Stockholm: KTH Royal Institute of Technology, 2022. p. 71
Keywords
Real estate brokerage, person-job fit, motivation, employee turnover, occupational life cycle, Fastighetsmäklare, person-job fit, motivation, år i yrket
National Category
Business Administration
Identifiers
urn:nbn:se:hig:diva-42409 (URN)978-91-8040-426-6 (ISBN)
Public defence
2022-12-16, Kollegiesalen, Brinellvägen 8, KTH Campus, 13:00 (English)
Opponent
Supervisors
Available from: 2023-06-22 Created: 2023-06-22 Last updated: 2023-06-22Bibliographically approved

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Ahlenius, MartinKågström, Jonas

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