Residential Brokerage in Hot and Cold Markets

Ying Li () and Abdullah Yavas ()

The Journal of Real Estate Finance and Economics, 2015, vol. 51, issue 1, 21 pages

Abstract: Using a search-theoretical framework, we study how a home seller’s choice of whether or not to use a broker depends on different market conditions. We analyze the role that the broker plays in the house-selling process by examining the expected time-to-transaction, the expected transaction price, and the value of the transaction. We show that a broker brings less value to the seller in hot markets than in cold markets. Copyright Springer Science+Business Media New York 2015

Keywords: Residential brokerage; FSBO; Market tightness; D83; L85; R32 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (10)

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DOI: 10.1007/s11146-014-9472-1

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