Who You Going to Call? Performance of Realtors and Non-realtors in a MLS Setting
AbstractThis study attempts to shed some light on the extent of non-realtor broker listings on the MLS and their resulting price and time-on-the markets effects. Using duration, probit and selling price models, this study empirically examines whether the REALTOR designation provides a signal of quality that is reflected in the price and time on the market for sellers. Results indicate that properties listed by non-realtors on the MLS setting sell at lower prices, take slightly longer to sell, and are less likely to sell than properties listed by REALTORs in a MLS setting. Working with a REALTOR in a MLS setting appears to be advantageous to the seller. Copyright Springer Science+Business Media, LLC 2007
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Bibliographic InfoArticle provided by Springer in its journal The Journal of Real Estate Finance and Economics.
Volume (Year): 35 (2007)
Issue (Month): 1 (July)
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Web page: http://www.springerlink.com/link.asp?id=102945
Residential brokerage; Principle-agent; Realtors;
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