Time on the Market: The Impact of Residential Brokerage.
- UNCG Author/Contributor (non-UNCG co-authors, if there are any, appear on document)
- Daniel T. Winkler, Professor (Creator)
- Gustav D. Jud, Retired (Contributor)
- Terry G. Seaks, Professor of Economics, Emeritus (Contributor)
- Institution
- The University of North Carolina at Greensboro (UNCG )
- Web Site: http://library.uncg.edu/
Abstract: This paper examines the impact of brokers, brokerage firms and marketing strategy on time on the market (TOM) in the residential housing market. Using a duration model methodology, the study finds duration dependence to be positive, suggesting that the probability of sale increases with TOM. Pricing-related marketing strategies are found to strongly influence TOM, but individual agent and firm characteristics are not statistically significant. These results are consistent with an efficient market within a multiple listing service—no group of agents or firms appears to possess special advantages enabling them to sell homes more quickly than their rivals.
Time on the Market: The Impact of Residential Brokerage.
PDF (Portable Document Format)
2045 KB
Created on 1/1/1996
Views: 5042
Additional Information
- Publication
- Journal of Real Estate Research, vol. 12, no. 3, 1996, pp. 447-458
- Language: English
- Date: 1996
- Keywords
- Time on the market (TOM), Residential housing market, Brokers, Brokerage firms, Marketing strategy