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Selling Time and Selling Price: The Influence of Seller Motivation

Selling Time and Selling Price: The Influence of Seller Motivation 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. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Real Estate Economics Wiley

Selling Time and Selling Price: The Influence of Seller Motivation

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References (39)

Publisher
Wiley
Copyright
Copyright © 1998 Wiley Subscription Services, Inc., A Wiley Company
ISSN
1080-8620
eISSN
1540-6229
DOI
10.1111/1540-6229.00763
Publisher site
See Article on Publisher Site

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.

Journal

Real Estate EconomicsWiley

Published: Dec 1, 1998

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