The persistence of the standard six percent real estate sales commission across markets and over time calls into question the competitiveness of the residential real estate brokerage industry. While there is anecdotal evidence that some local real estate markets are fairly concentrated, no...

Hedonic studies of home prices routinely attribute lower home prices to perceived undesirable attributes of the property sold. A steady stream of literature finds criminal behavior is negatively capitalized into residential real estate prices. This study focuses on the effects of geocoded...

We examine the market structure for real estate brokerage services across six large metropolitan areas, to see whether low-income neighborhoods or neighborhoods where house prices are low are as well served by real estate professionals as higher income or higher price neighborhoods. We collect...

Hedonic modeling has been used to examine the impacts of housing characteristics on selling prices. We apply a well-known control function approach to account for endogenous marketing time. This framework utilizes conditional heteroscedasticity of structural errors in the triangular model as an...