Abstract
A field study of real estate agents' transactions demonstrates that business friendship affects the negotiation process and the outcome of some transactions more for senior agents with 10 or more years of experience in real estate brokerage than for less experienced agents. Senior agents may have different cognitive scripts for business friendship than do new licensees. Newer agents rely more on friendly relations and on attention to reputation in their transactions, while the more experienced agents consider genuine business friendship useful for facilitating transactions.
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