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The Limited-Service Brokerage Decision: Theory and Evidence

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  • Jonathan Wiley
  • Leonard Zumpano
  • Justin Benefield

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  • Jonathan Wiley & Leonard Zumpano & Justin Benefield, 2011. "The Limited-Service Brokerage Decision: Theory and Evidence," The Journal of Real Estate Finance and Economics, Springer, vol. 43(3), pages 336-358, October.
    • Handle: RePEc:kap:jrefec:v:43:y:2011:i:3:p:336-358
    DOI: 10.1007/s11146-009-9217-8
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    References listed on IDEAS

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    1. Williams, Joseph T, 1998. "Agency and Brokerage of Real Assets in Competitive Equilibrium," The Review of Financial Studies, Society for Financial Studies, vol. 11(2), pages 239-280.
    2. Ken Johnson & Thomas Springer & Christopher Brockman, 2005. "Price Effects of Non-Traditionally Broker-Marketed Properties," The Journal of Real Estate Finance and Economics, Springer, vol. 31(3), pages 331-343, November.
    3. Thomas S. Zorn & James E. Larsen, 1986. "The Incentive Effects of Flat‐Fee and Percentage Commissions for Real Estate Brokers," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 14(1), pages 24-47, March.
    4. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
    5. Rutherford, R.C. & Springer, T.M. & Yavas, A., 2005. "Conflicts between principals and agents: evidence from residential brokerage," Journal of Financial Economics, Elsevier, vol. 76(3), pages 627-665, June.
    6. Munneke, Henry J & Yavas, Abdullah, 2001. "Incentives and Performance in Real Estate Brokerage," The Journal of Real Estate Finance and Economics, Springer, vol. 22(1), pages 5-21, January.
    7. Norman G. Miller, 1978. "Time on the Market and Selling Price," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 6(2), pages 164-174, June.
    8. Chang-Tai Hsieh & Enrico Moretti, 2003. "Can Free Entry Be Inefficient? Fixed Commissions and Social Waste in the Real Estate Industry," Journal of Political Economy, University of Chicago Press, vol. 111(5), pages 1076-1122, October.
    9. Anglin, Paul M & Rutherford, Ronald & Springer, Thomas M, 2003. "The Trade-Off Between the Selling Price of Residential Properties and Time-on-the-Market: The Impact of Price Setting," The Journal of Real Estate Finance and Economics, Springer, vol. 26(1), pages 95-111, January.
    10. Ronald C. Rutherford & Thomas M. Springer & Abdullah Yavas, 2001. "The Impacts of Contract Type on Broker Performance," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 29(3), pages 389-409, March.
    11. Anglin, Paul M & Arnott, Richard, 1991. "Residential Real Estate Brokerage as a Principal-Agent Problem," The Journal of Real Estate Finance and Economics, Springer, vol. 4(2), pages 99-125, June.
    12. Harold W. Elder & Leonard V. Zumpano & Edward A. Baryla, 2000. "Buyer Brokers: Do They Make a Difference? Their Influence on Selling Price and Search Duration," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 28(2), pages 337-362.
    13. Michael A. Arnold, 1992. "The Principal‐Agent Relationship in Real Estate Brokerage Services," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 20(1), pages 89-106, March.
    14. John D. Benjamin & G. Donald Jud & G. Stacy Sirmans, 2000. "What Do We Know About Real Estate Brokerage?," Journal of Real Estate Research, American Real Estate Society, vol. 20(1), pages 5-30.
    15. Abdullah Yavaş, 1992. "A Simple Search and Bargaining Model of Real Estate Markets," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 20(4), pages 533-548, December.
    16. John R. Knight, 2002. "Listing Price, Time on Market, and Ultimate Selling Price: Causes and Effects of Listing Price Changes," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 30(2), pages 213-237.
    17. John D. Benjamin & Peter T. Chinloy, 2000. "Pricing, Exposure and Residential Listing Strategies," Journal of Real Estate Research, American Real Estate Society, vol. 20(1), pages 62-74.
    18. G. Donald Jud & Terry G. Seaks & Daniel T. Winkler, 1996. "Time on the Market: The Impact of Residential Brokerage," Journal of Real Estate Research, American Real Estate Society, vol. 12(3), pages 447-458.
    19. Isaac F. Megbolugbe & Allen P. Marks & Mary B. Schwartz, 1991. "The Economic Theory of Housing Demand: A Critical Review," Journal of Real Estate Research, American Real Estate Society, vol. 6(3), pages 381-393.
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    Cited by:

    1. 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.
    2. 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.
    3. 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.

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