The Impact of Broker Vernacular in Residential Real Estate

Real estate brokers develop their own sense of style and methods for entering listings into the MLS. Anecdotally, they may have their own take on what works and what does not, but there is very little evidence to support those theories. In this study, we examine the use of broker vernacular in the m...

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Bibliographic Details
Published in:Journal of housing research 2014-01, Vol.23 (2), p.143-162
Main Authors: Goodwin, Kimberly R., Waller, Bennie D., Weeks, H. Shelton
Format: Article
Language:English
Subjects:
Brokers
Condominiums
Economic analysis
Foreclosure
Housing market
Impact analysis
Market prices
Marketing
Multiple listing service
Multiple listing services
Property
Property listings
Property values
Public property
Real estate
Real estate agents & brokers
Real estate economics
Residential real estate
Sales management
Selection bias
Selling price
Studies
Terminology
U.S.A
Variables
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Summary:Real estate brokers develop their own sense of style and methods for entering listings into the MLS. Anecdotally, they may have their own take on what works and what does not, but there is very little evidence to support those theories. In this study, we examine the use of broker vernacular in the multiple listing service (MLS) listing and its impact on selling price, time on market, and probability of sale. What the broker promotes in the MLS listing impacts marketing outcomes. Careful construction of property descriptions can improve listing performance. Additionally, brokers convey meaningful information to each other privately through the MLS.
ISSN:1052-7001
2691-1337
DOI:10.1080/10835547.2014.12092089