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Sale Price, Marketing Time, and Limited Service Listings: The Influence of Home Value and Market Conditions

Author

Listed:
  • Justin D. Benefield

    () (College of Charleston)

  • Mark K. Pyles

    () (College of Charleston)

  • Anne Gleason

    () (Gleason and Associates)

Abstract

Local markets for real estate brokerage services typically exhibit fairly strict pricing. Increased popularity of limited service brokerages provides an opportunity to study any loss in utility by sellers using these firms. Anecdotal evidence suggests that sellers experience a decreased selling price or an increased marketing time when utilizing limited service brokers, but there has been little prior empirical work. This study finds that limited service listings sell for significantly more and spend significantly less time on the market than traditional listings. The price and marketing time impacts vary by home value and local market conditions.

Suggested Citation

  • Justin D. Benefield & Mark K. Pyles & Anne Gleason, 2011. "Sale Price, Marketing Time, and Limited Service Listings: The Influence of Home Value and Market Conditions," Journal of Real Estate Research, American Real Estate Society, vol. 33(4), pages 531-564.
  • Handle: RePEc:jre:issued:v:33:n:4:2011:p:531-564
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    File URL: http://pages.jh.edu/jrer/papers/pdf/past/vol33n04/04.531_564.pdf
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    Cited by:

    1. Matthew Cypher & S McKay Price & Spenser Robinson & Michael J. Seiler, 2017. "Price Signals and Uncertainty in Commercial Real Estate Transactions," Framed Field Experiments 00626, The Field Experiments Website.

    More about this item

    JEL classification:

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

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