Skip navigation

Sole agency vs multi-agency: An investigation of agency practice across England and Wales

Sole agency vs multi-agency: An investigation of agency practice across England and Wales

Ke, Qiulin, Jayne, Michael and Isaac, David (2009) Sole agency vs multi-agency: An investigation of agency practice across England and Wales. Property Management, 27 (4). pp. 228-241. ISSN 0263-7472 (doi:10.1108/02637470910979998)

Full text not available from this repository.

Abstract

Purpose: The purpose of this paper is to investigate the impact of different agency practice on agency fees, business efficiency, and housing market liquidity.
Design/methodology/approach: The paper studies the effect of sole and multiple agency practices on estate agent efficiency, housing market liquidity, and commission fee levels. The analysis uses the survey data from 2000 to 2006 to investigate the different agency practices across England and Wales and their effect on estate agency business efficiency, housing market liquidity, selling price, and fee levels.
Findings: The empirical analysis confirms that agency practice has a locality bias, that is, some regions are more likely to adopt sole agency practice than other regions. The estate agents with a sole agency practice charge a lower agency fee, help clients to achieve better selling price and are more efficient; whereas multiple agency practice facilitates liquidity in the housing market, but experiences higher fall-through rate.
Research limitations/implications: The research focuses on estate agent rather than consumers due to the limitation of the data based on a research project concerning transaction costs designed prior to this analysis.
Originality/value: There is little other research that investigates the residential estate agency practice and its impact on housing market in the past three decades in England and Wales. The findings are a useful guide for practitioners to better understand the issues associated with different agency practices and should enhance business efficiency and performance.

Item Type: Article
Uncontrolled Keywords: real estate, property, England, Wales
Subjects: H Social Sciences > HD Industries. Land use. Labor
H Social Sciences > HG Finance
N Fine Arts > NA Architecture
Pre-2014 Departments: School of Architecture, Design & Construction
School of Architecture, Design & Construction > Sustainable Environments Research Group
Related URLs:
Last Modified: 14 Oct 2016 09:05
Selected for GREAT 2016: None
Selected for GREAT 2017: None
Selected for GREAT 2018: None
URI: http://gala.gre.ac.uk/id/eprint/1949

Actions (login required)

View Item View Item