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Do Real Estate Brokers Add Value When Listing Services are Unbundled?

Bernheim, B. Douglas - 2010

This paper measures the effects of real estate brokerage services provided to sellers, other than MLS listings, on the terms and timing of home sales. It is not obvious that sellers benefit from those services. On the one hand, brokers offer potentially useful knowledge and expertise. On the...

Persistent link: https://www.econbiz.de/10012759534

Market Distortions When Agents are Better Informed : The Value of Information in Real Estate Transactions

Levitt, Steven D. - 2010

Agents are often better informed than the clients who hire them and may exploit this informational advantage. Real-estate agents, who know much more about the housing market than the typical homeowner, are one example. Because real estate agents receive only a small share of the incremental...

Persistent link: https://www.econbiz.de/10012762522

Very Long-Run Discount Rates

Giglio, Stefano - 2014

We provide direct estimates of how agents trade off immediate costs and uncertain future benefits that occur in the very long run, 100 or more years away. We exploit a unique feature of housing markets in the U.K. and Singapore, where residential property ownership takes the form of either...

Persistent link: https://www.econbiz.de/10013053841

Speculative Dynamics of Prices and Volume

DeFusco, Anthony - 2018

Using data on 50 million home sales from the recent U.S. housing cycle, we document that much of the variation in volume came from the rise and fall in short-term speculation. Cities with larger speculative booms have larger price cycles, sharper increases in unsold listings as the market turns,...

Persistent link: https://www.econbiz.de/10012933890

The Causes and Consequences of Land Use Regulation : Evidence from Greater Boston

Glaeser, Edward L. - 2007

Over the past 30 years, eastern Massachusetts has seen a remarkable combination of rising home prices and declining supply of new homes. The reductions in new supply don't appear to reflect a real lack of land, but instead reflect a response to man-made restrictions on development. In this...

Persistent link: https://www.econbiz.de/10012778249

Why is Manhattan so Expensive? Regulation and the Rise in House Prices

Glaeser, Edward L.; Gyourko, Joseph; Saks, Raven E. - 2021

hypothesis that regulation is constraining the supply of housing so that increased demand leads to much higher prices, not many …

Persistent link: https://www.econbiz.de/10013244762

Does Air Quality Matter? Evidence from the Housing Market

Chay, Kenneth Y.; Greenstone, Michael - 2021

that this approach identifies two causal effects: 1) the impact of regulation on air quality improvements, and 2) the … impact of regulation on economic gains for home-owners. In addition, the results highlight the importance of choosing … appears that using regulation-induced changes in particulate matter leads to more reliable estimates of the capitalization of …

Persistent link: https://www.econbiz.de/10013245309

The Local Residential Land Use Regulatory Environment Across U.S. Housing Markets : Evidence from a New Wharton Index

Gyourko, Joseph - 2020

regulated to reverse course and deregulate to any significant extent. Moreover, regulation in most large coastal markets …

Persistent link: https://www.econbiz.de/10012845503

Wage Flexibility and Employment Fluctuations : Evidence from the Housing Sector

Pischke, Jörn-Steffen - 2016

Many economists suspect that downward nominal wage rigidities in ongoing labor contracts are an important source of employment fluctuations over the business cycle but there is little direct empirical evidence on this conjecture. This paper compares three occupations in the housing sector with...

Persistent link: https://www.econbiz.de/10012985576

The Relative Performance of Real Estate Marketing Platforms : Mls Versus Fsbomadison.Com

Hendel, Igal; Nevo, Aviv; Ortalo-Magné, François - 2022

We compare outcomes obtained by sellers who listed their home on a newly developed For-Sale-By-Owner (FSBO) web site versus those who used an agent and the Multiple Listing Service (MLS). We do not find support for the hypothesis that listing on the MLS helps sellers obtain a significantly...

Persistent link: https://www.econbiz.de/10014224306

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