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An Examination of Service Quality, Transaction Costs and Sales Ethics among Real Estate Advertising Sales Agents

  • Shu-Man You

    ()

    (Department of Real Estate and Built Environment, National Taipei University, Taiwan; No. 151, University Rd., San Shia District, New Taipei City, 23741 Taiwan)

  • Chun-Chang Lee

    ()

    (Department of Real Estate Management, National Pingtung Institute of Commerce, Taiwan; No. 51, Min Sheng E. Rd., Pingtung City, 90004 Taiwan; Phone: +886 8 7238700 Ext. 6203; Fax: +886 8 7222236;)

  • Ming-Hsun Tseng

    ()

    (Department of Real Estate and Built Environment, National Taipei University, Taiwan; No. 151, University Rd., San Shia District, New Taipei City, 23741 Taiwan; Phone: +886 2 26748189 Ext. 67403; Fax: +886 2 86715308)

This paper combines the transaction cost model, the sales ethics model and the service quality model as the theoretical foundations for evaluating house buyer satisfaction with their real estate advertising sales agents. This study uses a convenience sampling method with the population of sold-out building projects and new home projects in all administrative areas of Kaohsiung. The empirical results show that the reasons for agency problems and transaction costs affect the transaction costs of house buyers and the ethics of advertising sales agents. Furthermore, agents who provide better service are associated with more satisfied house buyers with stronger intentions. Finally, sales ethics have a significant influence on transaction costs as well as customer satisfaction and complaints.

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Article provided by Asian Real Estate Society in its journal International Real Estate Review.

Volume (Year): 15 (2012)
Issue (Month): 2 ()
Pages: 189-214

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Handle: RePEc:ire:issued:v:15:n:02:2012:p:189-214
Contact details of provider: Postal: Asia Real Estate Society, 51 Monroe Street, Plaza E-6, Rockville, MD 20850, USA
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  1. Abdullah Yavas, 2007. "Introduction: Real Estate Brokerage," The Journal of Real Estate Finance and Economics, Springer, vol. 35(1), pages 1-5, July.
  2. Williamson, Oliver E., 1992. "Markets, hierarchies, and the modern corporation: An unfolding perspective," Journal of Economic Behavior & Organization, Elsevier, vol. 17(3), pages 335-352, May.
  3. J.R. McDaniel & Marc A. Louargand, 1994. "Real Estate Brokerage Service Quality: An Examination," Journal of Real Estate Research, American Real Estate Society, vol. 9(3), pages 339-352.
  4. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
  5. Williamson, Oliver E, 1979. "Transaction-Cost Economics: The Governance of Contractural Relations," Journal of Law and Economics, University of Chicago Press, vol. 22(2), pages 233-61, October.
  6. James D. Shilling & C. F. Sirmans, 1988. "The Effects of Occupational Licensing on Complaints Against Real Estate Agents," Journal of Real Estate Research, American Real Estate Society, vol. 3(2), pages 1-9.
  7. J’Noel Gardiner & Jeffrey Heisler & Jarl Kallberg & Crocker Liu, 2007. "The Impact of Dual Agency," The Journal of Real Estate Finance and Economics, Springer, vol. 35(1), pages 39-55, July.
  8. Yinger, John, 1981. "A Search Model of Real Estate Broker Behavior," American Economic Review, American Economic Association, vol. 71(4), pages 591-605, September.
  9. David Barker, 2008. "Ethics and Lobbying: The Case of Real Estate Brokerage," Journal of Business Ethics, Springer, vol. 80(1), pages 23-35, June.
  10. Fama, Eugene F, 1980. "Agency Problems and the Theory of the Firm," Journal of Political Economy, University of Chicago Press, vol. 88(2), pages 288-307, April.
  11. Geoffrey Turnbull & Jonathan Dombrow, 2007. "Individual Agents, Firms, and the Real Estate Brokerage Process," The Journal of Real Estate Finance and Economics, Springer, vol. 35(1), pages 57-76, July.
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