This chapter surveys the literature on the microstructure of housing markets. It considers one-
sided search, random matching, and directed search models. It also examines the …

This article reviews research on the economics of information in real estate. It covers equity
investment in private and public markets and intermediation by brokers. The review shows …

The seller of a real estate property and his broker have two primary goals: to sell the
properly for as high a price as possible and as quickly as possible. While these are separate …

When a homeowner uses an agent to sell his property, he may have less information than
his agent and be disadvantaged in price setting and negotiating. This study examines …

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 …

We examine whether, and how, listing strategies impact sale prices in residential home
sales. Literatures in housing economics, negotiations, and auctions offer diverse predictions …

This article investigates the principal‐agent relationship between the owner of a house and
her real estate broker. The principal's (owner's) problem is to design a contract that induces …

Many facets of real estate brokerage have been examined in studies appearing in the
literature over the last several years. This review attempts to organize the research around …

This article analyzes the time series and cross‐sectional patterns of bidding wars for houses.
Bidding wars were once rare, a fairly constant 3–4% of transactions. This led to treating list …

The purpose of this paper is to provide an economic analysis of the brokerage institution and
an overview of the literature on this issue. In addition to the brokerage issues that have …