<abstract xmlns="http://www.w3.org/1999/xhtml"><p>The aim of this paper is to measure the dynamic effects of listing price strategies and housing features on the probability of selling a house over the marketing period by adopting a two-stage regression analysis. In the first stage, we define the listing price strategies as the gaps between the actual listing price and expected selling price, estimated by a hedonic model. The Cox Probability Hazard models are applied in the second stage to measure the effects of listing price strategies on the probability of sales over various listing periods, such as 30-day, 90-day, 180-day and 270-day listing periods.</p><p>We find that overpriced listing strategies have a significant impact on the probability of sale at any point during the first 30 days of marketing time. This effect seems to diminish and disappear after six months of marketing time. This shows that the first 30 days of the marketing time are critical and housing liquidity is strongly affected by pricing strategies. When the time on market is over 30 days, the influence of the seller’s pricing decisions on housing liquidity is diminished.</p></abstract>

The aim of this paper is to measure the dynamic effects of listing price strategies and housing features on the probability of selling a house over the marketing period by adopting a two-stage regression analysis. In the first stage, we define the listing price strategies as the gaps between the actual listing price and expected selling price, estimated by a hedonic model. The Cox Probability Hazard models are applied in the second stage to measure the effects of listing price strategies on the probability of sales over various listing periods, such as 30-day, 90-day, 180-day and 270-day listing periods.We find that overpriced listing strategies have a significant impact on the probability of sale at any point during the first 30 days of marketing time. This effect seems to diminish and disappear after six months of marketing time. This shows that the first 30 days of the marketing time are critical and housing liquidity is strongly affected by pricing strategies. When the time on market is over 30 days, the influence of the seller’s pricing decisions on housing liquidity is diminished.

The Role of Listing Price Strategies on the Probability of Selling a House: Evidence from Vietnam

Real Estate Management and Valuation

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

The aim of this paper is to measure the dynamic effects of listing price strategies and housing features on the probability of selling a house over the...

The Role of Listing Price Strategies on the Probability of Selling a House: Evidence from Vietnam

Data publikacji: 22 cze 2020

Zakres stron: 63 - 75

DOI: https://doi.org/10.1515/remav-2020-0016

Słowa kluczowe
Vietnam Housing Market, Listing Price Strategies, Probability of Sale, Cox Proportional Hazard Model

© 2020 Hong Nguyen Thi Bich et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

The Role of Listing Price Strategies on the Probability of Selling a House: Evidence from Vietnam

Data publikacji: 22 cze 2020

Zakres stron: 63 - 75

DOI: https://doi.org/10.1515/remav-2020-0016

Słowa kluczoweVietnam Housing Market, Listing Price Strategies, Probability of Sale, Cox Proportional Hazard Model

© 2020 Hong Nguyen Thi Bich et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Słowa kluczowe
Vietnam Housing Market, Listing Price Strategies, Probability of Sale, Cox Proportional Hazard Model