Joseph W. Coleman

Senior citizen's bargaining power in residential real estate markets

Purpose - – Researchers have previously examined, with mixed results, whether experience in the single-family house market enhances a buyers bargaining power by comparing prices paid by relatively young first-time buyers and experienced buyers. The present study aims to extend this basic line of inquiry, but the focus here is on both buyers and sellers at the other end of the age spectrum as the authors investigate the bargaining power of senior citizens (age 65 or older) in the single-family house market. Design/methodology/approach - – Hedonic regression is used to analyze approximately 6,200 transactions that occurred in Montgomery County, Ohio during the years 2007 through 2009. Findings - – No difference is discovered between prices paid for a single-family house by senior citizens and other buyers in the sample. However, senior citizens in this study sold property for 5.9 percent less than other sellers, Research limitations/implications - – Data limitations prevent the authors from specifying the precise reasons underlying the results concerning senior house sellers, but numerous possibilities are presented. Testing whether the results apply in other local housing markets would be a valuable extension of this research, as would identification of the factors associate with any bargaining power imbalance. Practical implications - – The economic principle of substitution suggests that assets that provide identical utility should command identical prices, but for heterogeneous goods the relative bargaining power of the principals may be important in the price formation process. The present study offers interesting results that in the case of senior buyers support the law of one price, but in the case of senior sellers, bargaining power differences dominate. Originality/value - – This is the first study to investigate bargaining power in residential real estate markets by comparing transaction prices involving senior citizens and other buyers and sellers.

Brand and Message Recall: The Effects of Situational Involvement and Brand Symbols in the Marketing of Real Estate Services

Due to the commission structure there is little price competition in residential real estate brokerage services, and the local Multiple Listing Service (MLS) equalizes access to market information among brokerages. Real estate firms are thus faced with the challenge of standing out in a crowded market with few points of real competitive differentiation. Results of a telephone survey with 2,107 respondents reveal a relatively high level of top-of-mind awareness for the major firms, regardless of transaction intention. Recall for smaller firms was correlated with transaction intention consistent with theory of situational involvement. Overall, recall appears to be linked with the use of a powerful brand symbol.

Women as Managers in the United States and China: A Cross-Cultural Study

This article investigated Chinese and U.S. attitudes toward women as managers with the goal of establishing an empirical basis for comparison and understanding of the glass ceiling potential in each culture. The authors used the Women as Managers Scale (WAMS) to measure perceptions of 919 U.S. and Chinese participants. Results indicated differences in perceptions by gender and nationality. Overall, women were perceived less favorably as managers by Chinese and U.S. males as compared to perceptions of Chinese and U.S. female participants. Findings are discussed in terms of existing research and areas for future research are suggested.