Date of Award
In this paper, we examine the simultaneous determination of time on market (TOM), length of listing contract (LOC) and percentage overpriced (POP) of residential real estate listings. Our fundamental speculation is that overpriced properties and those that have extended listing contracts will incur a longer TOM. The finding of this research confirms that the more a property is overpriced, the longer it will take to sell. Similarly, as LOC increases so does the expected TOM. This may be helpful knowledge for a potential seller in determining the listing contract duration assuming realistic price expectations. These findings assume the absence of any moral hazard problems.
Hooe, Caitlin, "Two-Stage Least Squares: Simultaneous Determination of Days on Market, Length of Contract, and Percentage Overpriced" (2008). Theses & Honors Papers. 64.