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Real estate brokers: do they inflate housing prices? The case of France

Violand, Wendy; Simon, Arnaud (2011), Real estate brokers: do they inflate housing prices? The case of France. https://basepub.dauphine.fr/handle/123456789/515

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Type
Document de travail / Working paper
Date
2011
Pages
36
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Author(s)
Violand, Wendy
Simon, Arnaud
Abstract (EN)
This study examines the impact of real estate brokers on the price of residential properties sold in 2005 in twelve French cities. The results indicate that brokers increase the prices of properties they sell even though they appear to have heterogeneous behaviours across cities. The impact of brokers also varies by property size and age of clients. One and two room apartments have higher selling prices when sold through brokers. Buyers in their thirties and forties who seek the assistance of brokers pay more for their homes whereas older sellers obtain higher prices from broker intermediation.
Subjects / Keywords
Residential real estate market; Broker intermediation; Brokers' effect on price; Real estate brokers; France
JEL
L11 - Production, Pricing, and Market Structure; Size Distribution of Firms
L85 - Real Estate Services
R31 - Housing Supply and Markets