NDLI: Buyers' and sellers' agents in the housing market

Content Provider	Semantic Scholar
Author	Bagnoli, Mark Khanna, Naveen
Copyright Year	1991
Abstract	We explain why buyers in the housing market use an agent employed by the seller. Such agents reduce buyers' search costs so that more buyers search a particular house. This increases the probability of the sale of the house and possibly also its selling price. However, since the selling price increases, if at all, by less than the fee paid by the seller to the agent, both buyers and sellers are better off. We identify two characteristics that give rise to sellers' agents and show that markets that do not have such agents are missing at least one of these characteristics.
Starting Page	147
Ending Page	156
Page Count	10
File Format	PDF HTM / HTML
DOI	10.1007/BF00173121
Volume Number	4
Alternate Webpage(s)	https://deepblue.lib.umich.edu/bitstream/handle/2027.42/47789/11146_2004_Article_BF00173121.pdf?isAllowed=y&sequence=1
Alternate Webpage(s)	https://doi.org/10.1007/BF00173121
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article

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