Do Real Estate Brokers Add Value When Listing Services Are Unbundled?
---- Acknowledgements -----
This paper was previously circulated as "Do Sellers' Brokers Raise Or Reduce Home Prices? Evidence Of Agency Costs From An Unusual Real Estate Market." We are grateful to April Blaine, Shirley Campbell, Betty Oen, Jan Thomson, and members of Stanford University's Faculty and Staff Housing Office. Stephan D. McBride, Sriniketh S. Nagavarapu, Harvey S. Rosen, and members of Stanford University's Labor Reading Group provided helpful comments. Zhihao Zhang provided valuable research assistance.