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Dual Agency Representation: Incentive Conflicts or Efficiencies

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  • Bennie D. Waller

    ()
    (Longwood University)

  • Raymond T. Brastow

    ()
    (Longwood University)

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    Abstract

    This study is the first to examine dual agency sales over the listing contract between seller and listing agent. We test hypotheses about the timing of dual agency and its effects on sales price and time on market. Probit results indicate that dual agency sales are more likely to occur near the beginning or the end of a listing contract. Three stage least squares results demonstrate that dual agency affects sales price in both periods and that dual agency sales have shorter marketing times. Results support the conclusion that dual agency sales result from both incentives and informational efficiencies. In the residential real estate market, buyers and sellers both rely greatly on

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    File URL: http://aux.zicklin.baruch.cuny.edu/jrer/papers/pdf/new_current/vol35n02/04.199_222.pdf
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    Bibliographic Info

    Article provided by American Real Estate Society in its journal journal of Real Estate Research.

    Volume (Year): 35 (2013)
    Issue (Month): 2 ()
    Pages: 83-102

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    Handle: RePEc:jre:issued:v:35:n:2:2013:p:199-222

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    Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
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    Web page: http://www.aresnet.org/

    Order Information:
    Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
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    Web: http://aux.zicklin.baruch.cuny.edu/jrer/about/get.htm

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