Market Distortions when Agents are Better Informed: The Value of Information in Real Estate Transactions
Author: Steven D. Levitt and Chad Syverson
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Information
Description: Market Distortions when Agents are Better Informed: The Value of Information in Real Estate Transactions, explores how real estate agents, who possess more information about the housing market than homeowners, may exploit their informational advantage. The study finds that homes owned by real estate agents sell for about 3.7 percent more and stay on the market about 9.5 days longer compared to other houses, even after controlling for housing characteristics.
Subject: Real Estate
Pages: 35
Megabytes: 0.12 MB
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