Transaction costs are thought to affect asset prices and market liquidity, but the direction and magnitude of these effects continues to be the subject of debate. In the single family residential market discount brokers offer to list a house for a lower price and thus reduce the transaction...

We empirically examine Taylor's (1999) theoretical prediction that longer time on the market is associated with a perception of lower quality. Our most robust result is from an ordered-logit model that provides evidence that an increase in marketing time is negatively related to property...

Previous research (Rutherford et al., 2005; Levitt and Syverson, 2005) identify and quantify agency problems in the brokerage of single-family houses. Real estate agents are found to receive a premium when sellling their own houses in comparison to similar client-owned houses. Given the homogeneity...