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

Justin D. Benefield (), Mark K. Pyles () and Anne Gleason ()
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Justin D. Benefield: College of Charleston
Mark K. Pyles: College of Charleston
Anne Gleason: Gleason and Associates

Journal of Real Estate Research, 2011, vol. 33, issue 4, 531-564

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.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (4)

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