This article is the winner of the Real Estate Broker / Agency manuscript prize (sponsored by the Center for the Study of Real Estate Brokerage/ Agency at Cleveland State University) presented at the 2001 American Real Estate Society Annual Meeting. This study examines the effect that a view of...

This study examines the changing diversity of home buyers and the steps brokerage firms are taking to adapt to these changes. The results reveal that larger firms are experiencing a greater increase in customer diversity. This can be partly explained by their efforts to target diverse groups...

This study analyses the inflation hedging effectiveness of residential real estate over the 1969-94 period. The results indicate that residential real estate is a significant hedge against both expected and unexpected inflation. These results indicate that since financial assets are not good...

This study empirically exams the combination of regret aversion and false reference points in a residential real estate context. Survey respondents were put in a hypothetical situation, where they had purchased an investment property several years ago. Hindsight knowledge about a foregone all...

The ability of a financial or real asset to provide a rate of return above the rate of inflation is crucial to investors. The financial literature on the inflation-hedging effectiveness of various investments suggests that real estate acts as a hedge against inflation on a period-by-period...

Inflation has become one of the predominant financial concerns of the late twentieth century. In the late 1970s, public opinion polls ranked inflation as the number one problem in the United States. While the rate of inflation has slowed since the late 1970s, inflation is still present and many...

This study explores factors that affect service quality for a large residential real estate brokerage in a diverse midwestern city. It examines the extent to which overall service quality influences homebuyers to recommend the brokerage firm and to use the firm for future transactions. A Linear...

The influential work of Genesove and Mayer (2001) uses loss aversion theory to explain several puzzling behaviors in the housing market. In this study, we present an alternative theory, which does not require an asymmetric value function, to observe the same "loss aversion" behavior....

A serious and imminent threat to a recovery of the global recession comes in the form of a burgeoning financial contagion known as strategic mortgage default. We theorize that the advocacy of strategic default can be likened to a disease, and as such, we employ a methodology from the field of...

This study examines the ability of existing futures contracts to hedge the returns on real estate investment trusts (REITs). The results from various hedging strategies suggest that existing futures contracts do not provide the means to effectively hedge REIT returns. REITs could remain...