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On the Likelihood of a Transaction and the Amount of Time Provided the Broker to Sell Property

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  • Ray Brastow
  • Ken Johnson
  • Bennie Waller

Abstract

This work empirically investigates the effect of the amount of time provided the broker to market property (listing contract length) on the likelihood of a successful marketing attempt. Do shorter listing contracts increase broker motivation or can contracts be so short that marketing efforts are unlikely to result in a successful transaction? The empirical results demonstrate that when the broker is provided a longer listing contract, the likelihood of a successful transaction increases but at a decreasing rate. This result suggests that home sellers face a tradeoff when choosing contract length. Longer contracts provide more time to arrange a successful sale, but reduction in broker motivation reduces the probability of sale as contracts lengthen.

Suggested Citation

  • Ray Brastow & Ken Johnson & Bennie Waller, 2012. "On the Likelihood of a Transaction and the Amount of Time Provided the Broker to Sell Property," Journal of Housing Research, Taylor & Francis Journals, vol. 21(2), pages 215-225, January.
    • Handle: RePEc:taf:rjrhxx:v:21:y:2012:i:2:p:215-225
    DOI: 10.1080/10835547.2012.12092057
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