Agency Representation and the Sale Price of Houses
AbstractMultiple Listing Service data are employed to examine how the type of agency representation influences the sale price of a residential property. The results differ by property size. The type of agency representation is relevant only for some segments of the market, mainly smaller- to medium-sized properties. For a certain range of property sizes, buyers who engage a buyer’s agent pay on average 2% less. However, an above average buyer’s agent commission can more than cancel this price effect. Buyers that engage a buyer’s agent that comes from the same firm as the listing agent never pay more for a house.
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Bibliographic InfoArticle provided by American Real Estate Society in its journal Journal of Real Estate Research.
Volume (Year): 24 (2002)
Issue (Month): 2 ()
Contact details of provider:
Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
Web page: http://www.aresnet.org/
Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
Find related papers by JEL classification:
- L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
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