We examine how disparate access to intermediaries affect the housing market outcomes of minority and lower‐income participants. To
do so, we match real estate Multiple Listings Service data which has real estate agent information with the Home Mortgage Disclosure Act data which contains information on buyer’s and seller’s race and income. We find that Black, Hispanic, and lower-income buyers and sellers transact lower-priced homes. However, when controlling for their representing agent, this difference falls by about 30%, indicating that agents play a large role in housing outcomes of buyers and sellers. Moreover, we find that Black and Hispanic buyers extract less bargaining from the process, evidenced by these buyers paying higher close price compared to list price. Finally, we show that Black and Hispanic borrowers use agents that are of worse quality, using various measures of agent quality. Our findings indicate that real estate agents and subsequently access to quality agents play a role in the differential housing outcomes of minority and lower‐income homeowners.