IDEAS home Printed from https://ideas.repec.org/a/taf/jpropr/v15y1998i2p135-151.html
   My bibliography  Save this article

The pricing of estate agency and conveyancing services in Scotland

Author

Listed:
  • Jeanette Findlay
  • Kenneth Gibb

Abstract

This paper is concerned with an econometric investigation of possible monopoly pricing by solicitor estate agents in Scotland who have significant market shares in local housing markets there and who use Solicitors' Property Centres (SPCs) to advertise properties for sale. The exclusion of nonsolicitor estate agents from SPCs and the relationship between non-solicitor and solicitor estate agents was the subject of a recent Monopolies and Mergers Commission Inquiry. As an applied economic problem, the researchers sought to overcome fundamental data and practical difficulties to build a robust model of combined estate agency and conveyancing fee determination. The study concluded that SPC market share appears to be positively related to combined fee levels, house price appears to be the main determinant of combined fees (though not the only determinant), and, the relationship between SPC market share and combined fee levels found at a Scottish level has plausible regional variations. More research needs to be done to reinforce understanding of the fundamentals of these complex markets and more work is required to locate estate agency and conveyancing markets within the wider analysis of local housing markets.

Suggested Citation

  • Jeanette Findlay & Kenneth Gibb, 1998. "The pricing of estate agency and conveyancing services in Scotland," Journal of Property Research, Taylor & Francis Journals, vol. 15(2), pages 135-151, January.
    • Handle: RePEc:taf:jpropr:v:15:y:1998:i:2:p:135-151
    DOI: 10.1080/095999198368446
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/095999198368446
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/095999198368446?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Rothenberg, Jerome & Galster, George C. & Butler, Richard V. & Pitkin, John R., 1991. "The Maze of Urban Housing Markets," University of Chicago Press Economics Books, University of Chicago Press, number 9780226729510, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Arnott, Richard & Shevyakhova, Elizaveta, 2014. "Tenancy rent control and credible commitment in maintenance," Regional Science and Urban Economics, Elsevier, vol. 47(C), pages 72-85.
    2. Stephen Malpezzi, 2023. "Housing affordability and responses during times of stress: A preliminary look during the COVID‐19 pandemic," Contemporary Economic Policy, Western Economic Association International, vol. 41(1), pages 9-40, January.
    3. Arnab Bhattacharjee & Eduardo Castro & Taps Maiti & João Marques, 2014. "Endogenous spatial structure and delineation of submarkets: A new framework with application to housing markets," SEEC Discussion Papers 1403, Spatial Economics and Econometrics Centre, Heriot Watt University.
    4. David Agrawal & William H. Hoyt, 2014. "State Tax Differentials, Cross-Border Commuting, and Commuting Times in Multi-State Metropolitan Areas," CESifo Working Paper Series 4852, CESifo.
    5. Bill Randolph & Andrew Tice, 2013. "Who Lives in Higher Density Housing? A Study of Spatially Discontinuous Housing Sub-markets in Sydney and Melbourne," Urban Studies, Urban Studies Journal Limited, vol. 50(13), pages 2661-2681, October.
    6. Chris Leishman & Greg Costello & Steven Rowley & Craig Watkins, 2013. "The Predictive Performance of Multilevel Models of Housing Sub-markets: A Comparative Analysis," Urban Studies, Urban Studies Journal Limited, vol. 50(6), pages 1201-1220, May.
    7. Arnab Bhattacharjee & Liqian Cai & Taps Maiti, 2013. "Functional regression over irregular domains," SEEC Discussion Papers 1301, Spatial Economics and Econometrics Centre, Heriot Watt University.
    8. Kashian, Russell & Carroll, Joseph D., Jr., 2011. "The Effect of Sheriff’s Sales on Condominium Sub-Market Property Values," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 41(1), pages 1-12.
    9. Oliver Bischoff & Wolfgang Maennig, 2010. "Rental housing market segmentation in Germany according to ownership," Journal of Property Research, Taylor & Francis Journals, vol. 28(2), pages 133-149, August.
    10. W. Paul Strassmann, 2000. "Mobility and Affordability in US Housing," Urban Studies, Urban Studies Journal Limited, vol. 37(1), pages 113-126, January.
    11. Susin, Scott, 2002. "Rent vouchers and the price of low-income housing," Journal of Public Economics, Elsevier, vol. 83(1), pages 109-152, January.
    12. Robert A. Simons & Roberto G. Quercia & Ivan Maric, 1998. "The Value Impact of New Residential Construction and Neighborhood Disinvestment on Residential Sales Price," Journal of Real Estate Research, American Real Estate Society, vol. 15(2), pages 147-162.
    13. Díaz Serrano, Luis & Stoyanova, Alexandrina Petrova, 2009. "Mobility and Housing Satisfaction: An Empirical Analysis for Twelve EU Countries," Working Papers 2072/42895, Universitat Rovira i Virgili, Department of Economics.
    14. David C. Wheeler & Antonio Páez & Jamie Spinney & Lance A. Waller, 2014. "A Bayesian approach to hedonic price analysis," Papers in Regional Science, Wiley Blackwell, vol. 93(3), pages 663-683, August.
    15. Judith Yates & Gavin Wood, 2005. "Affordable Rental Housing: Lost, Stolen and Strayed," The Economic Record, The Economic Society of Australia, vol. 81(s1), pages 82-95, August.
    16. Isaac F. Megbolugbe & Marja C. Hoek-Smit & Peter D. Linneman, 1996. "Understanding Neighbourhood Dynamics: A Review of the Contributions of William G. Grigsby," Urban Studies, Urban Studies Journal Limited, vol. 33(10), pages 1779-1795, December.
    17. George Galster, 2001. "On the Nature of Neighbourhood," Urban Studies, Urban Studies Journal Limited, vol. 38(12), pages 2111-2124, November.
    18. Coën, Alain & Pourcelot, Alexis & Malle, Richard, 2022. "Macroeconomic shocks and ripple effects in the Greater Paris Metropolis," Journal of Housing Economics, Elsevier, vol. 56(C).
    19. Andrew Aurand, 2013. "Does Sprawl Induce Affordable Housing?," Growth and Change, Wiley Blackwell, vol. 44(4), pages 631-649, December.
    20. Edward (Ned) Hill, 2023. "What Is Economic Development? And What Is the Job of an Economic Development Professional?," Economic Development Quarterly, , vol. 37(1), pages 34-48, February.

    More about this item

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:jpropr:v:15:y:1998:i:2:p:135-151. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RJPR20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.