
What added value do Estate Agents offer compared to FSBO transaction? Explanation from a perceived advantages model
Simon, Arnaud; Lefebvre, Thomas; Larceneux, Fabrice (2015), What added value do Estate Agents offer compared to FSBO transaction? Explanation from a perceived advantages model, Journal of Housing Economics, 29, p. 72-82. 10.1016/j.jhe.2015.06.002
Type
Article accepté pour publication ou publiéDate
2015Journal name
Journal of Housing EconomicsVolume
29Publisher
Elsevier
Pages
72-82
Publication identifier
Metadata
Show full item recordAuthor(s)
Simon, ArnaudDauphine Recherches en Management [DRM]
Lefebvre, Thomas
Dauphine Recherches en Management [DRM]
Larceneux, Fabrice
Dauphine Recherches en Management [DRM]
Abstract (EN)
This paper aims at explaining the determinants of using an estate agent vs. conducting a private sale on the French housing market. From a survey that collected 4,142 responses relating to effective completed transactions, the results show that the decision of whether to use an estate agent is not explained by the physical or spatial features of the property or socio-demographic variables. But by buyers’ and sellers’ heterogeneous perceptions of whether it is worthwhile to use estate agents, of how far they feel themselves having market expertise, and their wish to complete quickly. Five perceived transaction costs explain why buyers and sellers use brokerage intermediation, in a consumer’s standpoint.Subjects / Keywords
FBSO; real estate housing; time pressure; perceived advantages; market expertise; transaction cost; residential property market; intermediationRelated items
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