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ON THE CHOICE OF REALTOR
Author(s) -
Janssen C. T. L.,
Jobson J. D.
Publication year - 1980
Publication title -
decision sciences
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.238
H-Index - 108
eISSN - 1540-5915
pISSN - 0011-7315
DOI - 10.1111/j.1540-5915.1980.tb01140.x
Subject(s) - multicollinearity , listing (finance) , econometrics , real estate , regression analysis , variance (accounting) , multivariate statistics , variance inflation factor , variables , statistics , business , economics , mathematics , accounting , finance
The paper presents a multivariate analysis of single‐family‐home sales data to investigate differences in performance among real estate firms. The decision considered is which firm should be chosen by a homeowner selling through an agent. Factor analysis of property features was used to obtain orthogonal dimensions. This permitted analysis of the influence of other variables with only limited multicollinearity. Broker effects on listing and selling price were studied through regression analysis with dummy variables and slope shifters on the factors and through analysis of variance on the regression residuals after removal of house characteristics. A number of performance differences of consequence for the choice of selling agent were observed. Some of the reasons for these differences are discussed.