Author: Ken H. Johnson, Randy I. Anderson and Justin D. Benefield

Start Page: 1
End Page: 14
Volume: 7
Issue Number: 1
Year: 2004
Publication: Journal of Real Estate Practice and Education

Abstract: This paper investigates the impact on both sales price and marketing time of offering a bonus to the selling broker of property. Recognizing and controlling for the different incentives inherent in pricing versus exposure listing strategies, this article employs hedonic pricing and time-on-market (TOM) estimations to uncover the relationship among property price, property TOM and salesperson bonuses. The results suggest that properties offering a bonus experience both a price discount and extended TOM.