G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w21489
来源IDWorking Paper 21489
Conflicts of Interest and the Realtor Commission Puzzle
Panle Jia Barwick; Parag A. Pathak; Maisy Wong
发表日期2015-08-24
出版年2015
语种英语
摘要This paper documents uniformity in real estate commission rates across markets and time using a dataset on realtor commissions for 653,475 residential listings in eastern Massachusetts from 1998-2011. Newly established real estate brokerage offices charging low commissions grow more slowly than comparable entrants with higher commissions. Properties listed with lower commission rates experience less favorable transaction outcomes: they are 5% less likely to sell and take 12% longer to sell. These adverse outcomes reflect decreased willingness of buyers' agents to intermediate low commission properties (steering) rather than heterogeneous seller preferences or reduced effort of listing agents. While all agents and offices prefer properties with high commissions, firms and agents with large market shares purchase a disproportionately small fraction of low commission properties. The negative outcomes for low commissions provide empirical support for regulatory concerns that steering reinforces the uniformity of commissions.
主题Microeconomics ; Market Structure and Distribution ; Industrial Organization ; Market Structure and Firm Performance ; Industry Studies ; Regional and Urban Economics ; Real Estate
URLhttps://www.nber.org/papers/w21489
来源智库National Bureau of Economic Research (United States)
引用统计
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/579164
推荐引用方式
GB/T 7714
Panle Jia Barwick,Parag A. Pathak,Maisy Wong. Conflicts of Interest and the Realtor Commission Puzzle. 2015.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Panle Jia Barwick]的文章
[Parag A. Pathak]的文章
[Maisy Wong]的文章
百度学术
百度学术中相似的文章
[Panle Jia Barwick]的文章
[Parag A. Pathak]的文章
[Maisy Wong]的文章
必应学术
必应学术中相似的文章
[Panle Jia Barwick]的文章
[Parag A. Pathak]的文章
[Maisy Wong]的文章
相关权益政策
暂无数据
收藏/分享

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。