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Salesperson Bonuses and Their Impact on Residential Property Price and Time on Market

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  • Ken Johnson
  • Randy Anderson
  • Justin Benefield

Abstract

This paper investigates the impact on both sales price and marketing time of offering a bonus to the selling broker of property. Recognizing and controlling for the different incentives inherent in pricing versus exposure listing strategies, this article employs hedonic pricing and time-on-market (TOM) estimations to uncover the relationship among property price, property TOM and salesperson bonuses. The results suggest that properties offering a bonus experience both a price discount and extended TOM.This article is the winner of the Real Estate Brokerage/Agency Manuscript Prize (sponsored by the Center for the Study of Real Estate Brokerage/Agency at Cleveland State University) presented at the 2003 American Real Estate Society Meeting.

Suggested Citation

  • Ken Johnson & Randy Anderson & Justin Benefield, 2004. "Salesperson Bonuses and Their Impact on Residential Property Price and Time on Market," Journal of Real Estate Practice and Education, Taylor & Francis Journals, vol. 7(1), pages 1-14, January.
    • Handle: RePEc:taf:rjrpxx:v:7:y:2004:i:1:p:1-14
    DOI: 10.1080/10835547.2004.12091605
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