Limited Service Brokerage: Positive Broker Intermediation?

Jessica M. Rutherford, Ronald C. Rutherford, Thomas M. Springer and Joseph E. Mohr

Journal of Real Estate Research, 2018, vol. 40, issue 4, 551-596

Abstract: Recent research on limited service brokerage finds positive broker intermediation effects evidenced by price increases ranging from 2% to 6%. Time-on-market effects of limited service contracts range from an increase of 20% to a reduction of 14%. One article indicates the results suggesting positive broker intermediation effects are contrary to expectations. After controlling for builder-owned properties and the type of listing contract, we find no evidence of positive broker intermediation associated with limited service listings. Houses listed using an exclusive-right-to-sell and limited service contract experience negative price effects with no impact on time-on-market. A repeat sales sample provides additional evidence supporting either a negative or zero intermediation effect for limited service listings.

Date: 2018
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DOI: 10.1080/10835547.2018.12091512

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