Date of Award
Raymond T. Brastow, Ph.D.
Bennie D. Waller, Ph.D.
Real estate markets are excellent venues in which to study principal-agent incentive misalignments. Buyers and sellers who face relatively higher information costs rely on agents to reduce information costs and to assist their negotiation. Previous literature has focused on a typical dilemma real estate gents face - sales price versus time on market (TOM). This paper analyzes sellers' behavior when an exclusive listing contract nears unsuccessful expiration.
Zhang, Zhenyu, "Principal-Agent Conflict and Seller's Strategy Approaching Listing Contract Expiration" (2010). Theses & Honors Papers. 29.