The Effects of Demand Specification and Search Patience on the Buyer Search Process in China’s Resale Housing Market: An Experimental Study
Author
Start Page / End Page
Volume
Issue Number
Year
Publication
Yang Zhang, Hong Zhang, Michael J. Seiler
275 / 299
17
3
2014
International Real Estate Review
Abstract
Through the implementation of an experimental design, this study examines the effect of buyer demand specification and search patience on the home buying process. We find that there are no significant effects of demand specification on the behavior of brokers and the search results. When the search patience of a buyer is higher, the earnings of the buyer are greater, matching degree is higher, search duration is longer, number of broker recommendations is greater, and attribute competition is fiercer.
Keywords
Demand Specification; Search Patience; Experimental Methods; Resale Housing Market