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Principal-Agent Conflict And Seller's Strategy Approaching Listing Contract Expiration, Zhenyu Zhang
Principal-Agent Conflict And Seller's Strategy Approaching Listing Contract Expiration, Zhenyu Zhang
Theses & Honors Papers
Real estate markets are excellent venues in which to study principal-agent incentive misalignments. Buyers and sellers who face relatively higher information costs rely on agents to reduce information costs and to assist their negotiation. Previous literature has focused on a typical dilemma real estate gents face - sales price versus time on market (TOM). This paper analyzes sellers' behavior when an exclusive listing contract nears unsuccessful expiration.
Two-Stage Least Squares: Simultaneous Determination Of Days On Market, Length Of Contract, And Percentage Overpriced, Caitlin Hooe
Two-Stage Least Squares: Simultaneous Determination Of Days On Market, Length Of Contract, And Percentage Overpriced, Caitlin Hooe
Theses & Honors Papers
In this paper, we examine the simultaneous determination of time on market (TOM), length of listing contract (LOC) and percentage overpriced (POP) of residential real estate listings. Our fundamental speculation is that overpriced properties and those that have extended listing contracts will incur a longer TOM. The finding of this research confirms that the more a property is overpriced, the longer it will take to sell. Similarly, as LOC increases so does the expected TOM. This may be helpful knowledge for a potential seller in determining the listing contract duration assuming realistic price expectations. These findings assume the absence of …
Two-Stage Least Squares: Simultaneous Determination Of Days On Market And Length Of Listing Contract, Matthew Joseph Davis
Two-Stage Least Squares: Simultaneous Determination Of Days On Market And Length Of Listing Contract, Matthew Joseph Davis
Theses & Honors Papers
Over eight million new and existing homes are sold each year, while every seller has a similar objective; to simultaneously maximize sales price and minimize the duration the home is on the market. There is no predetermined manner in which to select how long one should list the property with a broker, if the seller decides to not sell the property themselves, or how long a broker will need to sell the property. Numerous studies have been conducted to examine various factors affecting days on market (DOM), while no research has been conducted on the effect length of contract (LOC) …
Minimizing Market Duration: The Strategic Selection Of The Listing Brokerage Firm, David L. Ellis Jr.
Minimizing Market Duration: The Strategic Selection Of The Listing Brokerage Firm, David L. Ellis Jr.
Theses & Honors Papers
Approximately five million homes are sold each year with every seller having similar objectives; to minimize the duration of the marketing period while simultaneously maximizing sales price. Once the decision to sell has been made, individuals are faced with the dilemma of marketing and selling the property themselves or acquiring the services of a real estate professional to assist in the sale of their property. It is logical to speculate that homeowners wishing to acquire the services of a real estate broker or salesperson will desire to select a salesperson that can help achieve the optimization objective of minimizing time …