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Time on the Market: The Impact of Residential Brokerage

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  • Donald Jud
  • Terry Seaks
  • Daniel Winkler

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.

Suggested Citation

  • Donald Jud & Terry Seaks & Daniel Winkler, 1996. "Time on the Market: The Impact of Residential Brokerage," Journal of Real Estate Research, Taylor & Francis Journals, vol. 12(2), pages 447-458, January.
    • Handle: RePEc:taf:rjerxx:v:12:y:1996:i:2:p:447-458
    DOI: 10.1080/10835547.1996.12090852
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