This study is the first to examine dual agency sales over the listing contract between seller and listing agent. We test hypotheses about the timing of dual agency and its effects on sales price and time on market. Probit results indicate that dual agency sales are more likely to occur near the...

This study is the first to examine dual agency sales over the listing contract between seller and listing agent. We test hypotheses about the timing of dual agency and its effects on sales price and time on market. Probit results indicate that dual agency sales are more likely to occur near the...

We examine neighborhood externalities that arise from the perceived risk associated with the proximity of a registered sex offender's residence. We find large negative externality effects on a property's price and liquidity, employing empirical techniques that include a fixed-effects OLS model,...

This study examines potential incentive misalignments and informational efficiencies associated with dual agency and the degree to which those effects vary over a listing contract. The analysis generates hypotheses about timing of dual agency and its impact on selling price. Probit estimates...

This paper examines how seller pricing decisions influence listing contract length and how these decisions affect price and liquidity in housing markets. Because list price affects broker effort required to sell the property, brokers respond to seller overpricing by increasing their desired...

We study the external impact of foreclosures, exploring how foreclosed properties affect the liquidity of nearby homes. Empirically, we find a foreclosure increases a nearby home's time-on-market by approximately 30%, on average, which is primarily driven by a disamenity effect. There is...

Given the potential risk of recidivism, recent research has found that registered sex offenders impose external costs that are capitalized into the value (lower prices) and liquidity (longer time on market) of nearby residential real estate. Using more than a decade of real estate listings data...

This study is the first to examine dual agency sales over the listing contract between seller and listing agent. We test hypotheses about the timing of dual agency and its effects on sales price and time on market. Probit results indicate that dual agency sales are more likely to occur near the...

Miceli (1989) in a search for the optimal time to allow a broker to market property provides a theoretical model which posits that the principal (seller) may use the length of the listing contract to motivate the agent (listing broker) to better align incentives. Expanding slightly on Miceli,...

This work empirically investigates the effect of the amount of time provided the broker to market property (listing contract length) on the likelihood of a successful marketing attempt. Do shorter listing contracts increase broker motivation or can contracts be so short that marketing efforts...