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Selling Time and Selling Price: The Impact of Seller MotivationMichel GlowerIndependent Donald R. HaurinOhio State University (OSU) - Department of Economics Patric H. HendershottUniversity of Aberdeen - Centre for Property Research; National Bureau of Economic Research (NBER) November 13, 1997 Abstract: We consider the role that seller motivation plays in determining selling time, list price, and sale price. A new survey of home sellers suggests that sellers are heterogeneous in their motivation to sell. Our findings are that a seller who, at the time of listing, has a planned date to move sells more quickly than one who does not. Also, the shorter the planned time until a move at the time of listing, the shorter the actual duration of marketing time. We find that seller motivation affects sale price, but not the list price markup. Our results suggest that theoretical models of the housing search process should be recast to allow for heterogeneous sellers.
Number of Pages in PDF File: 29 JEL Classification: D83, R21 working papers seriesDate posted: March 27, 1998Suggested CitationContact Information
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