IDEAS home Printed from https://ideas.repec.org/a/kap/jrefec/v8y1994i3p195-211.html
   My bibliography  Save this article

Contracts for the Sale of Residential Real Estate

Author

Listed:
  • Anglin, Paul M

Abstract

I propose a model where the terms of a real estate broker's contract influence both the broker's and the "seller's" choices. Given equal contract, higher quality, and thus higher priced on average, houses will sell in less time. Thus, simple conditions suffice to show that a "competitively set" commission rate should fall as the average price rises and, since a seller's cost of waiting are higher for higher quality houses, a "cartel's" commission rate should rise with the average price. Because this model studies the effects of alternate contracts on observable variables such as the sale price of a house and its time-till-sale, its implications are testable. Copyright 1994 by Kluwer Academic Publishers

Suggested Citation

  • Anglin, Paul M, 1994. "Contracts for the Sale of Residential Real Estate," The Journal of Real Estate Finance and Economics, Springer, vol. 8(3), pages 195-211, May.
  • Handle: RePEc:kap:jrefec:v:8:y:1994:i:3:p:195-211
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Thomas Miceli & Katherine Pancak & C. Sirmans, 2007. "Is the Compensation Model for Real Estate Brokers Obsolete?," The Journal of Real Estate Finance and Economics, Springer, vol. 35(1), pages 7-22, July.
    2. John D. Benjamin & G. Donald Jud & G. Stacy Sirmans, 2000. "Real Estate Brokerage and the Hosting Market: An Annotated Bibliography," Journal of Real Estate Research, American Real Estate Society, vol. 20(1), pages 217-278.
    3. Clark, David & Pennington-Cross, Anthony, 2016. "Determinants of industrial property rents in the Chicago metropolitan area," Regional Science and Urban Economics, Elsevier, vol. 56(C), pages 34-45.
    4. Lynn Fisher & Abdullah Yavas, 2010. "A Case for Percentage Commission Contracts: The Impact of a “Race” Among Agents," The Journal of Real Estate Finance and Economics, Springer, vol. 40(1), pages 1-13, January.
    5. John D. Benjamin & G. Donald Jud & G. Stacy Sirmans, 2000. "What Do We Know About Real Estate Brokerage?," Journal of Real Estate Research, American Real Estate Society, vol. 20(1), pages 5-30.
    6. Edward Rosenthal, 2011. "A Pricing Model for Residential Homes with Poisson Arrivals and a Sales Deadline," The Journal of Real Estate Finance and Economics, Springer, vol. 42(2), pages 143-161, February.
    7. Jonathan Wiley & Justin Benefield & Marcus Allen, 2014. "Cyclical Determinants of Brokerage Commission Rates," The Journal of Real Estate Finance and Economics, Springer, vol. 48(1), pages 196-219, January.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:jrefec:v:8:y:1994:i:3:p:195-211. 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: (Sonal Shukla) or (Rebekah McClure). General contact details of provider: http://www.springer.com .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.