Dual Agency, Commission Levels, and the Effect on Sale Price in Residential Real Estate Market: A Questionnaire Survey on Real Estate Brokers in Japan-Reference-Cited by-同舟云学术

Dual Agency, Commission Levels, and the Effect on Sale Price in Residential Real Estate Market: A Questionnaire Survey on Real Estate Brokers in Japan

Published:2021 Issue: Volume: Page:165-180
ISSN:2199-5974
Container-title:New Frontiers in Regional Science: Asian Perspectives
language:
Short-container-title:

Author:

Shirakawa Keiichi,Okoshi Toshiyuki

Abstract

AbstractIn residential real estate market, agents have an incentive to steer their clients to their own listings or buyers rather than offering the best value transaction, which is derived from allowing dual agency and information asymmetry among buyers, sellers, and agents. We estimated the commission levels and sale prices of real estate brokers through a questionnaire survey and found that seven out of ten brokers are closing dual-agency deals and lowering sale prices. We could not find any effects of the number of employees, location of office, and major types of contract on dual agency.

Publisher

Springer Singapore

Link

http://link.springer.com/content/pdf/10.1007/978-981-15-8848-8_12

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