Information sharing across MLS platforms and housing prices: Evidence from a temporary suspension of an agreement
研究南佛罗里达两个MLS之间数据共享协议暂停的影响，发现依赖对方经纪人的区域房产售价在暂停期间降低，且该效应稳健。
Abstract This study examines a unique case of a suspension of a data‐sharing agreement between two multiple listing services (MLSs) in South Florida, and investigates the impact of such a (negative) shock on the trading outcomes of the MLS platforms. Using property listing data from the two MLSs, we find that sale prices were lower during the data suspension period for transactions involving properties that were in areas where the listing broker may rely on brokers from the other MLS to bring potential buyers. The negative price impact remains stable and consistent under various robustness checks. Furthermore, the results also reveal heterogeneous pricing and liquidity effects due to the data‐sharing suspension‐related shock.