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Real Estate Agent Remarks: Help or Hype?

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Abstract

This article groups the remarks of a multiple listing service listing into common themes and then uses a hedonic pricing model to determine whether such comments are priced in a meaningful way. The comments provide information on the motivation of the seller, location of the property and physical improvements or defects. Most of the comments analyzed are statistically significant. Negative comments are associated with lower sales prices suggesting the helpful nature of comments. Some of the positive comments, however, including "new paint" and "good location" are also associated with lower sales prices suggesting that some comments may be better classified as hype.

Suggested Citation

  • Jerry T. Haag & Ronald C. Rutherford & Thomas A. Thomson, 2000. "Real Estate Agent Remarks: Help or Hype?," Journal of Real Estate Research, American Real Estate Society, vol. 20(1), pages 205-215.
    • Handle: RePEc:jre:issued:v:18:n:3:2000:p:205-215
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    Cited by:

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    2. Kelley Cours Anderson & Julia Freybote & Kerry T. Manis, 2024. "The Impact of Virtual Marketing Strategies on the Price-TOM Relation," The Journal of Real Estate Finance and Economics, Springer, vol. 68(2), pages 218-234, February.
    3. Adam D. Nowak & Bradley S. Price & Patrick S. Smith, 2021. "Real Estate Dictionaries Across Space and Time," The Journal of Real Estate Finance and Economics, Springer, vol. 62(1), pages 139-163, January.
    4. Elias Asproudis & Cigdem Gedikli & Oleksandr Talavera & Okan Yilmaz, 2023. "Returns to Solar Panels in the Housing Market: A Meta Learner Approach," Discussion Papers 23-01, Department of Economics, University of Birmingham.
    5. Marcus T. Allen & Justin D. Benefield & Ronald C. Rutherford, 2023. "Co-Listing Strategies: Better Transaction Outcomes?," The Journal of Real Estate Finance and Economics, Springer, vol. 67(3), pages 517-544, October.
    6. Elizabeth Plummer, 2014. "The Effects of Property Tax Protests on the Assessment Uniformity of Residential Properties," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 42(4), pages 900-937, December.
    7. Paul M. Anglin & Yanmin Gao, 2023. "Value of Communication and Social Media: An Equilibrium Theory of Messaging," The Journal of Real Estate Finance and Economics, Springer, vol. 66(4), pages 861-903, May.
    8. Rosane Hungria-Gunnelin, 2013. "Impact of Number of Bidders on Sale Price of Auctioned Condominium Apartments in Stockholm," International Real Estate Review, Global Social Science Institute, vol. 16(3), pages 274-295.
    9. Kimberly Goodwin & Ken Johnson & Leonard Zumpano, 2012. "Minimum Service Requirements, Limited Brokers and Menuing of Services," The Journal of Real Estate Finance and Economics, Springer, vol. 45(2), pages 471-490, August.
    10. Zumpano, Leonard V. & Johnson, Ken H. & Anderson, Randy I., 2003. "Internet use and real estate brokerage market intermediation," Journal of Housing Economics, Elsevier, vol. 12(2), pages 134-150, June.
    11. Adam Nowak & Patrick Smith, 2015. "Textual Analysis in Real Estate," Working Papers 15-34, Department of Economics, West Virginia University.
    12. Kimberly F. Luchtenberg & Michael J. Seiler & Hua Sun, 2019. "Listing Agent Signals: Does a Picture Paint a Thousand Words?," The Journal of Real Estate Finance and Economics, Springer, vol. 59(4), pages 617-648, November.
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    14. Aaron Arndt & David M Harrison & Mark A. Lane & Michael J. Seiler & Vicky L Seiler, 2017. "Real Estate Agent Target Marketing: Are Buyers Drawn Towards Particular Real Estate Agents?," Framed Field Experiments 00629, The Field Experiments Website.

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    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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