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Who You Going to Call? Performance of Realtors and Non-realtors in a MLS Setting

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  • Biqing Huang
  • Ronald Rutherford

Abstract

This study attempts to shed some light on the extent of non-realtor broker listings on the MLS and their resulting price and time-on-the markets effects. Using duration, probit and selling price models, this study empirically examines whether the REALTOR designation provides a signal of quality that is reflected in the price and time on the market for sellers. Results indicate that properties listed by non-realtors on the MLS setting sell at lower prices, take slightly longer to sell, and are less likely to sell than properties listed by REALTORs in a MLS setting. Working with a REALTOR in a MLS setting appears to be advantageous to the seller. Copyright Springer Science+Business Media, LLC 2007

Suggested Citation

  • Biqing Huang & Ronald Rutherford, 2007. "Who You Going to Call? Performance of Realtors and Non-realtors in a MLS Setting," The Journal of Real Estate Finance and Economics, Springer, vol. 35(1), pages 77-93, July.
    • Handle: RePEc:kap:jrefec:v:35:y:2007:i:1:p:77-93
    DOI: 10.1007/s11146-007-9029-7
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    References listed on IDEAS

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    Cited by:

    1. Marcus T. Allen & Justin D. Benefield & Christopher L. Cain & Norman Maynard, 2024. "Distressed Property Sales: Differences and Similarities Across Types of Distress," The Journal of Real Estate Finance and Economics, Springer, vol. 68(2), pages 318-353, February.
    2. Marcus T. Allen & Justin D. Benefield & Ronald C. Rutherford, 2023. "Co-Listing Strategies: Better Transaction Outcomes?," The Journal of Real Estate Finance and Economics, Springer, vol. 67(3), pages 517-544, October.
    3. Sean Salter & Ken Johnson & Ernest King, 2010. "Listing Specialization and Pricing Precision," The Journal of Real Estate Finance and Economics, Springer, vol. 40(3), pages 245-259, April.
    4. Oded Palmon & Ben J. Sopranzetti, 2017. "On the relationship between the number of a broker’s real estate listings and transaction outcomes," Review of Quantitative Finance and Accounting, Springer, vol. 49(1), pages 65-89, July.
    5. William G. Hardin III & Ken H. Johnson & Zhonghua Wu, 2009. "Brokerage Intermediation in the Commercial Property Market," Journal of Real Estate Research, American Real Estate Society, vol. 31(4), pages 397-420.
    6. Justin Benefield & William Hardin, 2015. "Does Time-on-Market Measurement Matter?," The Journal of Real Estate Finance and Economics, Springer, vol. 50(1), pages 52-73, January.
    7. Turnbull, Geoffrey K. & Waller, Bennie D., 2018. "(What) do top performing real estate agents deliver for their clients?," Journal of Housing Economics, Elsevier, vol. 41(C), pages 142-152.
    8. Han, Lu & Strange, William C., 2015. "The Microstructure of Housing Markets," Handbook of Regional and Urban Economics, in: Gilles Duranton & J. V. Henderson & William C. Strange (ed.), Handbook of Regional and Urban Economics, edition 1, volume 5, chapter 0, pages 813-886, Elsevier.
    9. Justin Benefield & Ronald Rutherford & Marcus Allen, 2012. "The Effects of Estate Sales of Residential Real Estate on Price and Marketing Time," The Journal of Real Estate Finance and Economics, Springer, vol. 45(4), pages 965-981, November.
    10. David Koch & Gunther Maier, 2015. "The influence of estate agencies’ location and time on Internet," Review of Regional Research: Jahrbuch für Regionalwissenschaft, Springer;Gesellschaft für Regionalforschung (GfR), vol. 35(2), pages 147-171, October.
    11. Kimberly R. Goodwin & Ken H. Johnson, 2017. "The Short Sale Stigma," The Journal of Real Estate Finance and Economics, Springer, vol. 55(4), pages 416-434, November.
    12. Steven Stelk & Leonard V. Zumpano, 2017. "Can Real Estate Brokers Affect Home Prices Under Extreme Market Conditions?," International Real Estate Review, Global Social Science Institute, vol. 20(1), pages 51-73.
    13. Kimberly Goodwin & Ken Johnson & Leonard Zumpano, 2012. "Minimum Service Requirements, Limited Brokers and Menuing of Services," The Journal of Real Estate Finance and Economics, Springer, vol. 45(2), pages 471-490, August.

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