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E1a Agent Specificity During Boom and Bust
Key Words
Agent Specificity, Transaction Cost Theory, Market Microstructure, Market Cycle
Short Description
The significance of this study is to provide an academic analysis that would benefit consumers and people related to consumer affairs in a real estate transaction. It analyzes the role of an agent in a real estate transaction and provides intuition on when and from what aspect an agent would be a useful resource. While the new platform increased the matching rate between the buyer and seller, perils of overpriced sales transactions do persist because the agent still remains in the equation. However, despite the costly fraction within the sales price, agents still provide advantages that make them remain useful. Thus, the informational advantage of the agent in a real estate transaction is a two-faced Janus that we observe especially since the dawn of the internet real estate age.
First & Corresponding Author
Seongsu Kim, University of Georgia
Authors in the order to be printed
Seongsu Kim