Real estate contracts often contain a wide variety of contingency clauses. These third-party approvals are often outside the seller's control and can lengthen the-time-on-the-market (TOM) and reduce the surety of close. To compensate for these undesirable attributes, buyers typically offer...

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...

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...

Through the implementation of an experimental design, this study examines the effect of buyer demand specification and search patience on the home buying process. We find that there are no significant effects of demand specification on the behavior of brokers and the search results. When the...

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...

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 article chronicles the past, present, and future of the American Real Estate Society (ARES) over its first 25 years of existence with particular emphasis on the present and future. The goal of ARES is to be open and friendly to all and to be a thought leading organization relevant to both...

Real estate contracts often contain a wide variety of contingency clauses. These third-party approvals are often outside the seller's control and can lengthen the-time-on-the-market (TOM) and reduce the surety of close. To compensate for these undesirable attributes, buyers typically offer...

This study is the first to identify whether specific individual homebuyer characteristics, such as repeat versus first-time, local versus out-of-town, individual versus joint decision-makers, and Web versus non-Web users relate to the rating of a firm’s overall service quality and whether or...