Selling Time and Selling Price: The Impact of Seller Motivation

29 Pages Posted: 27 Mar 1998  

Michel Glower

Independent

Donald R. Haurin

Ohio State University (OSU) - Economics

Patric H. Hendershott

University of Aberdeen - Centre for Property Research; National Bureau of Economic Research (NBER)

Multiple version iconThere are 2 versions of this paper

Date Written: 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.

JEL Classification: D83, R21

Suggested Citation

Glower, Michel and Haurin, Donald R. and Hendershott, Patric H., Selling Time and Selling Price: The Impact of Seller Motivation (November 13, 1997). Available at SSRN: https://ssrn.com/abstract=52120 or http://dx.doi.org/10.2139/ssrn.52120

Michel Glower (Contact Author)

Independent

149 Green Valley Ct
Pittsburgh, 15220

Donald R. Haurin

Ohio State University (OSU) - Economics ( email )

154 N. Oval Mall
1010G Derby Hall
Columbus, OH 43210-1172
United States
614-292-0482 (Phone)
614-292-9530 (Fax)

Patric H. Hendershott

University of Aberdeen - Centre for Property Research ( email )

Aberdeen AB24 2UF
Scotland

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

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