Agency Representation and the Sale Price of Houses

Joachim Zietz and Bobby Newsome

Journal of Real Estate Research, 2002, vol. 24, issue 2, 165-192

Abstract: Multiple Listing Service data are employed to examine how the type of agency representation influences the sale price of a residential property. The results differ by property size. The type of agency representation is relevant only for some segments of the market, mainly smaller- to medium-sized properties. For a certain range of property sizes, buyers who engage a buyer's agent pay on average 2% less. However, an above average buyer's agent commission can more than cancel this price effect. Buyers that engage a buyer's agent that comes from the same firm as the listing agent never pay more for a house.

Date: 2002
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DOI: 10.1080/10835547.2002.12091094

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