Buyer Search Intensity and the Role of the Residential Real Estate Broker

Buyer Search Intensity and the Role of the Residential Real Estate Broker This study examines the impact of the real estate broker on the effectiveness of buyer search by focusing on the linkages between search intensity and the duration of search. How long a buyer searches depends on how sensitive the buyer is to within-period search costs and across-period, sequential search costs. High-income individuals and other homebuyers with high within-period search costs tend to search longer and less intensively. Buyers with high across-period search costs, such as out-of-town buyers, tend to search more intensively. Brokers, by reducing the opportunity costs of within-period search, increase buyer search intensity, which in turn reduces actual search time. The Journal of Real Estate Finance and Economics Springer Journals

Buyer Search Intensity and the Role of the Residential Real Estate Broker

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Kluwer Academic Publishers
Copyright © 1999 by Kluwer Academic Publishers
Economics; Regional/Spatial Science; Financial Services
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