Agency Representation and the Sale Price of Houses
Multiple 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 buyerâ€™s agent pay on average 2% less. However, an above average buyerâ€™s agent commission can more than cancel this price effect. Buyers that engage a buyerâ€™s agent that comes from the same firm as the listing agent never pay more for a house.
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/
|Order Information:|| Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323|
Web: http://pages.jh.edu/jrer/about/get.htm Email:
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Koenker,Roger, 2005.
Cambridge University Press, number 9780521608275, December.
- Joachim Zietz & Bobby Newsome, 2001. "A Note on Buyer's Agent Commision and Sales Price," Journal of Real Estate Research, American Real Estate Society, vol. 21(3), pages 245-254.
- R. Kelley Pace & James P. LeSage, 2004.
"Spatial Statistics and Real Estate,"
The Journal of Real Estate Finance and Economics,
Springer, vol. 29(2), pages 147-148, 09.
- G. Donald Jud & James Frew, 1986. "Real Estate Brokers, Housing Prices, and the Demand for Housing," Urban Studies, Urban Studies Journal Limited, vol. 23(1), pages 21-31, February.
- Koenker, Roger W & Bassett, Gilbert, Jr, 1978. "Regression Quantiles," Econometrica, Econometric Society, vol. 46(1), pages 33-50, January.
- Zietz, Joachim, 2001. " Heteroskedasticity and Neglected Parameter Heterogeneity," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 63(2), pages 263-273, May.
- Breusch, T S & Pagan, A R, 1979. "A Simple Test for Heteroscedasticity and Random Coefficient Variation," Econometrica, Econometric Society, vol. 47(5), pages 1287-1294, September.
- Thursby, Jerry G., 1992. "A comparison of several exact and approximate tests for structural shift under heteroscedasticity," Journal of Econometrics, Elsevier, vol. 53(1-3), pages 363-386.
When requesting a correction, please mention this item's handle: RePEc:jre:issued:v:24:n:2:2002:p:165-192. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (JRER Graduate Assistant/Webmaster)
If references are entirely missing, you can add them using this form.