Costs and Pricing of Home Brokerage Services
通过经济搜索模型和经纪成本假设，推导出住宅交易中佣金率随房价、新房与二手房、合作与非合作销售而变化的定价含义，并提供了实际证据。
This paper explores a simple economic search model, and various brokerage cost assumptions, to derive brokerage pricing implications for three dimensions of the home transaction: (1) level of home price, (2) new relative to existing home sales, and (3) co‐op relative to non‐co‐op sales. The model incorporates time‐on‐market (the price‐time tradeoff) as an important element in home brokerage (search) It is argued that relative search cost differences imply that commission rates will be lower (1) on sales of higher‐priced homes, (2) on sales of new relative to existing homes and (3) on non‐co‐op relative to co‐op sales. A main contribution of the paper is the presentation of considerable supporting evidence showing variation in actual home brokerage commission rates according to these three variables.