This study investigated the extent to which the real estate industry is segmented along racial or ethnic lines. A 1982 survey of Anglo, black, and Hispanic real estate agents in the Denver metropolitan area showed ethnic segmentation in the structure of real estate business practice. Sellers select real estate agents at least partially on the basis of a common ethnicity, ethnicity affects the size and location of territories in which an agent obtains listings, and an agent's network of business contacts is limited by and is shaped by the ethnicity of the agent. Ethnicity therefore adds a further distortion to the spatially biased information set available to real estate agents.