This study examines buyer search duration using a national database consisting of transactions conducted with and without the assistance of real estate brokers. The results of this study indicates that information asymmetries are present in the residential real estate market. First-time buyers...

This study examines the developments in the residential real estate brokerage market over the last decade. In particular, the study focuses on how technological and structural changes in the market have impacted firm revenues, costs and profitability. The analysis is conducted using four...

This paper incorporates location and tenure choice into a simultaneous equation model of housing demand. The estimation results reveal that an important asymmetry may exist between renters and homeowners in terms of their respective housing decisions. The most important finding in this paper is...

This article measures overall, allocative, technical, pure technical and scale efficiency levels for a sample of residential real estate brokerage firms using data envelopment analysis, a linear-programming technique. The results suggest that real estate brokerage firms operate inefficiently....

The purpose of this research is to examine buyer search under different market conditions. We conduct a survival regression analysis of survey data generated by the National Association of Realtors for 1988, 1991 and 1993. We find, in all instances, that economic conditions are the dominant...

This paper examines the continuing evolution of the Internet and the resulting effects on the efficiency of buyer search. The study encompassed market conditions indicative of both a buyer's and seller's market. The results indicate that as Internet usage increased search duration increased,...

Although agency disclosure is required by every state, recent national surveys of home buyers and sellers indicate that disclosure varies significantly across the United States. This study seeks to determine the causes of these disparities by examining states¡¯ educational standards,...

This article examines the productive efficiency levels present in the market for residential real estate brokerage services by employing the stochastic frontier approach. The only prior study (Anderson, Zumpano, Elder and Fok, 1998) that examined productive efficiency in this sector employed...

Earlier research has found that specialization by real estate agents creates economies of scope for real estate firms. So far, however, no research has addressed this issue at the agent level. The question this research seeks to answer is whether specialization in one side of the real estate...

Recently the use of artificial stucco (formally known as Exterior Insulation and Finish Systems, or EIFS) on residential real estate properties has been a topic of much debate. In this paper, we outline the issues surrounding EIFS use. Subsequently, we develop and test hypotheses regarding the...