Contract expiration and sales price

Asabere, Paul K.; Huffman, Forrest E.; Johnson, Rose L.

doi:10.1007/bf00217394

Cited by 13 publications

(4 citation statements)

References 19 publications

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“…They highlight the complexity between list price and time on market (Rutherford, et al 2001 and2004;Asabere, et al 1996;Arnold, 1999;Yavas and Yang, 1995). These findings indicate that a lower listing price is not necessarily related to a shorter time on the market (Arnold, 1999), and higher list prices lead to longer marketing times (Yavas and Yang, 1995).…”

Section: Disadvantages Could Be Considered As Followsmentioning

confidence: 79%

“…There are several studies in the US context which investigate the impact of contract types on agent performance and the relation of time on market and selling price. They highlight the complexity between listing price and time on market (Rutherford et al , 2001, 2004; Asabere et al , 1996; Arnold, 1999; Yavas and Yang, 1995). These findings indicate that a lower listing price is not necessarily related to a shorter time on the market (Arnold, 1999), and higher listing prices lead to longer marketing times (Yavas and Yang, 1995).…”

Section: Literature Reviewmentioning

confidence: 99%

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Sole agency vs multi‐agency: an investigation of agency practice across England and Wales

Jayne

Isaac

2009

Property Management

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Sole agency vs. multi-agency: an investigation of agency practice across England and Wales AbstractPurposes: This paper investigates the impact of different agency practice on agency fees, business efficiency and housing market liquidity.Design/methodology/approach -The paper studies the effect of sole and multiple agency practices on estate agent efficiency, housing market liquidity and commission fee levels. The analysis uses the survey data from 2000 to 2006 to investigate the different agency practices across England and Wales and their effect on estate agency business efficiency, housing market liquidity, selling price and fee levels.Findings -The empirical analysis confirms that agency practice has a locality bias, that is, some regions are more likely to adopt sole agency practice than other regions. The estate agents with a sole agency practice charge a lower agency fee, help clients to achieve better selling price and are more efficient; whereas multiple agency practice facilitates liquidity in the housing market, but experiences higher fall-through rate.Research limitations/implication -The research focuses on estate agent rather than consumers due to the limitation of the data based on a research project concerning transaction costs designed prior to this analysis.Originality/value -There is little other research that investigates the residential estate agency practice and its impact on housing market in the past three decades in England and Wales. The findings are a useful guide for practitioners to better understand the issues associated with different agency practices and should enhance business efficiency and performance.

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Section: Disadvantages Could Be Considered As Followsmentioning

confidence: 79%

Section: Literature Reviewmentioning

confidence: 99%

Sole agency vs multi‐agency: an investigation of agency practice across England and Wales

Jayne

Isaac

2009

Property Management

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“…The foregoing begins to agitate the minds of the researchers as regards the efficiency of real estate agency practice in Nigeria. Since the hallmark of every agency contract no matter the type, ranging from sole, joint, to multiple, is the successful delivery of interests of principals at record time, the impact of contract types on agent performance and the relation of time on market and selling price together with the complexity between listing price and time on market have been highlighted in earlier researches conducted in the US (Rutherford et al, 2001(Rutherford et al, , 2004Asabere et al, 1996;Arnold, 1999;Yavas and Yang, 1995). Nothwithstanding, the agency contract types evident in Nigeria, how efficient have the "acclaimed professionals" in estate agency fair in the country with respect to the curriculum of study.…”

Section: Introductionmentioning

confidence: 99%

Towards an Effective Real Estate Agency Education: A Stride to Efficiency in Nigeria

Osmond

Adesiyan

Olusola

et al. 2015

Procedia - Social and Behavioral Sciences

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Real estate agency has been relegated in academic curriculum of Estate Management Programme in Nigeria. This partly accounts for few research efforts in the field compared to what is obtainable in the UK, US and Asia. This research therefore aims at examining the practice of real estate agency amongst the professionals' viz-a-viz curriculum of study obtained while they were undergoing trainning. 159 Estate Surveying firms and 91 Property Development Companies in Lagos were studied. Relative Importance Index and Chi-Square test set at the 0.05 level of significance were adopted for the analysis. It was found that multiple agency was the most practiced which was also fraught with inefficiencies. The study thereby advocated a modification of agency practice through review of curriculum and commitment of both agents and principals in order to eradicate the identified inefficiencies. It also called for focus on the neglected real estate agency research among Nigerian researchers.

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“…However, authors in this field of research have made immense contributions. The impact of contract types on agent performance and the relation of time on market and selling price together with the complexity between listing price and time on market was a highlight of research conducted in the US (Rutherford et al, 2001(Rutherford et al, , 2004Asabere et al, 1996;Arnold, 1999;Yavas and Yang, 1995). Agency, which is also described as brokerage service, has been studied in real estate in relation to the impact of broker intermediation on selling price and duration, Jud (1983), Jud and Frew (1986), Jud, Seaks, and Winkler (1996), Zumpano, Elder, and Baryla (1996), Baryla (1999, 2000), Rutherford, Springer, and Yavas (2005), Huang and Rutherford (2007), Rutherford, Springer, and Yavas (2007), and Turnbull and Dombrow (2007).…”

Section: Introductionmentioning

confidence: 99%

The Expenditure of Vietnamese Families in Recent Years

Bình

2011

MJSS

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Estate agency which has been researched upon particularly in the UK, US and Asia is still in its infancy in Nigeria. This research aims at discovering the impact of different agency types in the efficiency of Nigeria real estate practice. The study of 159 Estate Surveying firms and 91 Property development companies in the commercial nerve centre of the country (Lagos) representing both agents and principal (vendor/purchasers) respectively, indicates that multiple agency is mostly adopted in Nigeria real estate practice. The Relative Important Index coupled with Chi-Square test at 0.05 level of significance supports the posit of certain inefficiencies synonymous with multiple agency as discovered in an earlier work carried out in the UK. The researchers thereby advocated the modification of subagency practice particularly to involve the consent and commitment of principals so as to eradicate all inefficiencies by safeguarding the interest of all parties. A call for focus on the neglected real estate agency research among Nigeria researchers is also advocated.

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Contract expiration and sales price

Cited by 13 publications

References 19 publications

Sole agency vs multi‐agency: an investigation of agency practice across England and Wales

Sole agency vs multi‐agency: an investigation of agency practice across England and Wales

Towards an Effective Real Estate Agency Education: A Stride to Efficiency in Nigeria

The Expenditure of Vietnamese Families in Recent Years

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