Dual Agent Distortions in Real Estate Transactions
研究发现双重代理对房价平均无影响，但区分产权后，在经纪人自有房产上溢价6.35%，在政府自有房产上折价25.10%，在银行自有房产上折价5.14%，且市场条件影响扭曲程度。
This article investigates price distortions in dual agent real estate transactions. Consistent with the literature, we find that, on average, dual agent has a null effect on sale price. However, dual agent distortions on sale price emerge after controlling for the ownership of the property. Dual agent is associated with a 6.35% price premium on agent‐owned properties, but a 25.10% price discount on government‐owned properties and a 5.14% discount on bank‐owned properties. In addition, market conditions also play an important role in such price distortions.