Real-estate agent commission structure and sales performance

Pieter Gautier, Arjen Siegmann, Aico van Vuuren

Do higher real-estate agent fees imply better performance? This study uses a nation-wide data set of residential real-estate transactions in the Netherlands from 1985 to 2011 to provide evidence against this. Brokers with a flat-fee structure who charge an up-front fee (which is substantially lower than the average fee of traditional brokers) and leave the viewings to the seller sell faster and at - on average - 2.7 percent higher prices. We correct for fixed house- and time effects. We provide additional evidence that the price dfference is not due to a seller-selection effect.

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Year of publication:	2017 ; This version: February 2017
Authors:	Gautier, Pieter ; Siegmann, Adriaan Hendrik ; Vuuren, Aico van
Publisher:	Amsterdam : Tinbergen Institute
Subject:	real-estate brokers \| broker incentives \| housing \| agency \| Immobilienmakler \| Real estate brokers \| Leistungsentgelt \| Performance pay \| Erfolgsfaktor \| Success factor \| Niederlande \| Netherlands \| 1985-2012

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Extent:	1 Online-Ressource (circa 23 Seiten) Illustrationen
Series:	Discussion paper / Tinbergen Institute. - Rotterdam [u.a.] : [Verlag nicht ermittelbar], ISSN 0929-0834, ZDB-ID 2435783-2. - Vol. TI 2017, 049
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Other identifiers:	hdl:10419/162315 [Handle]
Classification:	D80 - Information and Uncertainty. General ; L10 - Market Structure, Firm Strategy, and Market Performance. General ; L80 - Industry Studies: Services. General ; R20 - Household Analysis. General ; R30 - Real Estate Markets, Spatial Production Analysis, and Firm Location. General
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10011658754