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Factors Affecting Real Estate Broker Selection: What Really Counts?

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Author Info
Elizabeth Hemphill () (School of Marketing, University of South Australia, Australia)
Abstract

This paper explores agent sales presentations in the real estate property listing process using structural equation modeling. Data were collected from both vendors and agents to identify important agent attributes in both successful and unsuccessful presentation attempts. The research found that agents consider really hearing the vendor, getting along with the vendor and getting to know the vendor as key elements of a listing attempt, whilst vendors suggest the path to listing is through negotiation, that some level of negotiation must take place. Research should now examine the influence of time in this critical listing process step with reference to both agent and vendor perspectives using metrics other than perceptions of vendor satisfaction.

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File URL: http://www.umac.mo/fba/irer/papers/past/vol10n1_pdf/Hemphill%20(1-25).pdf
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Publisher Info
Article provided by Asian Real Estate Society in its journal International Real Estate Review.

Volume (Year): 10 (2007)
Issue (Month): 1 ()
Pages: 1-25
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:ire:issued:v:10:n:01:2007:p:1-25

Contact details of provider:
Postal: Asia Real Estate Society, 51 Monroe Street, Plaza E-6, Rockville, MD 20850, USA
Email:
Web page: http://www.asres.org/

Order Information:
Postal: Asian Real Estate Society, 51 Monroe Street, Plaza E-6, Rockville, MD 20850, USA
Email:
Web: http://www.asres.org/

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Related research
Keywords: relationship establishment; sales exchange; buyer-seller interactions; structural equation modelling;

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Find related papers by JEL classification:
L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

References listed on IDEAS
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  1. John D. Benjamin & Peter T. Chinloy, 2000. "Pricing, Exposure and Residential Listing Strategies," Journal of Real Estate Research, American Real Estate Society, vol. 20(1), pages 62-74. [Downloadable!]
  2. Kennan, John, 2001. "Repeated Bargaining with Persistent Private Information," Review of Economic Studies, Blackwell Publishing, vol. 68(4), pages 719-55, October.
  3. James E. Larsen, 1991. "Leading Residential Real Estate Sales Agents and Market Performance," Journal of Real Estate Research, American Real Estate Society, vol. 6(2), pages 241-249. [Downloadable!]
  4. Gary S. Moore & Gerald E. Smolen & Lawrence V. Conway, 1992. "The Effects of an Informational Disclosure Form on the Real Estate Agency Representational Model," Journal of Real Estate Research, American Real Estate Society, vol. 7(2), pages 217-226. [Downloadable!]
  5. Spekman, Robert E., 1988. "Strategic supplier selection: Understanding long-term buyer relationships," Business Horizons, Elsevier, vol. 31(4), pages 75-81. [Downloadable!] (restricted)
  6. Marsha L. Richins & William C. Black & C.F. Sirmans, 1987. "Strategic Orientation and Marketing Strategy: An Analysis of Residential Real Estate Brokerage Firms," Journal of Real Estate Research, American Real Estate Society, vol. 2(2), pages 41-54. [Downloadable!]
  7. Joyce M. Johnson & Hugh O. Nourse & Ellen Day, 1988. "Factors Related to the Selection of a Real Estate Agency or Agent," Journal of Real Estate Research, American Real Estate Society, vol. 3(2), pages 109-118. [Downloadable!]
  8. Dahlstrom, Robert & Ingram, Rhea, 2003. "Social networks and the adverse selection problem in agency relationships," Journal of Business Research, Elsevier, vol. 56(9), pages 767-775, September. [Downloadable!] (restricted)
  9. Edward A. Baryla & Leonard V. Zumpano, 1995. "Buyer Search Duration in the Residential Real Estate Market: The Role of the Real Estate Agent," Journal of Real Estate Research, American Real Estate Society, vol. 10(1), pages 1-14. [Downloadable!]
  10. Daniel McFadden, 1976. "A Comment on Discriminant Analysis "Versus" Logit Analysis," NBER Chapters, in: Annals of Economic and Social Measurement, Volume 5, number 4, pages 155-167 National Bureau of Economic Research, Inc. [Downloadable!]
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