The purpose of this study is to determine whether the conventional model that the real estate agent is the exclusive agent or subagent of the seller best fits the understanding of all parties during the critical stages of contract negotiations. A survey of Georgia licensees indicates...

It is indisputable that in any competitive market, the key words used to describe a product, service, or even an idea can influence people's initial impressions of it. Thus, it may be so for the titles given real estate courses or textbooks. Although most curriculum coordinators and authors...

A two-stage least squares model of housing prices is estimated with data collected from 3358 single-family home transactions. The results provide evidence for an optimal marketing period and indicate that a liquidity premium is priced in single-family home sales. Consistent with the hypothesis...

This study examines the valuation effect of the sale-leaseback of corporate real estate on the stock prices of the selling and purchasing firms. The issue tested is whether the sale-leaseback transaction offers a net benefit to the corporate seller/lessee or purchaser/lessor. The empirical...

This study examines the effect of the sale and leaseback of corporate real estate on the stock prices of the selling firms. We ask whether the Tax Reform Act of 1986 (TRA 1986) had a negative impact on the market valuation effects of corporate sale and leasebacks. The results of the comparative...

This paper offers a theoretical and empirical analysis of the exclusive agency and exclusive-right-to-sell contracts used in real estate brokerage. The theoretical model predicts that while both contract types will yield the same price, the exclusive agency contract will result in faster sales...

We examine the performance of real estate mutual funds during January 1991-December 1997. As a group, the sampled funds outperformed the "Wilshire Real Estate Securities Index" on a risk-adjusted basis by more than 5 percentage points annually. We attempt to explain these surprising findings by...

This paper examines the determinants of industrial properly value. We use the factor-analytic linear structural relations (LISREL) model to confront measurement problems associated with related work. A simultaneous test of the effects on property value of factors summarizing physical property,...

This article examines the performance of mortgage-backed securities (MBS) mutual funds from January 1987 to June 1995. As a group, the MBS mutual funds underperform both the "Salomon and Lehman Brothers" MBS market benchmarks. The relative underperformance of the MBS mutual funds is due to poor...