This study examines potential incentive misalignments and informational efficiencies associated with dual agency and the degree to which those effects vary over a listing contract. The analysis generates hypotheses about timing of dual agency and its impact on selling price. Probit estimates...

Miceli (1989) in a search for the optimal time to allow a broker to market property provides a theoretical model which posits that the principal (seller) may use the length of the listing contract to motivate the agent (listing broker) to better align incentives. Expanding slightly on Miceli,...