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Homeowners? Repeat-Sale Gains, Dual Agency and Repeated Use of the Same Agent

  • Richard D. Evans


    (Fogelman College of Business and Economics, University of Memphis, Memphis TN 38152)

  • Phillip T. Kolbe


    (Fogelman College of Business and Economics, University of Memphis, Memphis TN 38152)

Registered author(s):

    Previous studies of dual agency, where one agent serves both buyer and seller in a transaction, use hedonic models. Repeat-sale methods can test for the price effect of accepting dual agency. Dual agency does not show convincing effects on expected gain, which would occur if there was a systematic bias, or on heteroscedasticity, which would occur if there are large effects that are rare. Earlier researchers could not test for the effect of an owner picking a listing agent who was the earlier selling agent. Consistently positive mean abnormal price gains come from this choice, as well as signi?cant heteroscedasticity.

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

    Volume (Year): 27 (2005)
    Issue (Month): 3 ()
    Pages: 267-292

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    Handle: RePEc:jre:issued:v:27:n:3:2005:p:267-292
    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
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    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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