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| A Comparison of Real Estate Marketing
Systems: Theory and Evidence Author: Abdullah Yavas and Peter F. Colwell Start Page: 583 Abstract: The objective of this
paper is twofold. One is to provide a search-theoretical model of the marketing choice of
the seller. The model explains the seemingly contradictory empirical results as to whether
a seller raises the price of his house to pass on a portion of the broker's commission to
the buyer. The second is to offer empirical evidence on the impact of the MLS on the
price. We control for selectivity bias in the data and obtain a surprising result that the
decision to use a multiple listing service decreases the sale price of a property. |
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