The Effects of Time Constraints on Broker Behavior in China¡¦s Resale Housing Market: Theory and Evidence

Yang Zhang (), Hong Zhang () and Michael Seiler ()
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Yang Zhang: Beijing Forestry University
Hong Zhang: Tsinghua University

International Real Estate Review, 2016, vol. 19, issue 3, 353-370

Abstract: This study examines the effects of time pressure on residential real estate broker behavior. Consistent with our intuition, we find that when under a binding time constraint, brokers do transact the property more quickly, but do not work as hard and ultimately recommend less optimal homes. Interestingly, brokers earn the same commission when operating in either a low or high time pressure environment. When the characteristics of the broker are considered, we find that experienced brokers are significantly more effective at matching buyers and sellers under time constrained conditions.

Keywords: China; Search Duration; Time Constraints; Residential Real Estate (search for similar items in EconPapers)
JEL-codes: L85 (search for similar items in EconPapers)
Date: 2016
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