iBuyer’s Use of PropTech to Make Large-Scale Cash Offers

References

• Anderson, J. T., Luchtenberg, K. F., & Seiler, M. J. (2021). Using Asymmetric Dominance to Resolve Toxic Debt: Combining Online and Field Experiments. Journal of Real Estate Research, 43(4), 402–418. https://doi.org/10.1080/08965803.2021.2003014
   Web of Science ®Google Scholar
• Arrow, K. J. (1974). Limited Knowledge and Economic Analysis. American Economic Review, 64(1), xiii–10.
   Web of Science ®Google Scholar
• Beracha, E., & Seiler, M. J. (2014). The Effect of Listing Price Strategy on Transaction Selling Prices. The Journal of Real Estate Finance and Economics, 49(2), 237–255. https://doi.org/10.1007/s11146-013-9424-1
   Web of Science ®Google Scholar
• Beracha, E., & Seiler, M. J. (2015). The Effect of Pricing Strategy on Home Selection and Transaction Prices: An Investigation of the Left-Most Digit Effect. Journal of Housing Research, 24(2), 147–161. https://doi.org/10.1080/10835547.2015.12092101
   Google Scholar
• Bernheim, B. D., & Meer, J. (2008). Do Real Estate Brokers Add Value When Listing Services Are Unbundled? (Working Paper No. 13796). National Bureau of Economic Research.
   Google Scholar
• Bucchianeri, G. W., & Minson, J. A. (2013). A Homeowner’s Dilemma: Anchoring in Residential Real Estate Transactions. Journal of Economic Behavior & Organization, 89(May), 76–92. https://doi.org/10.1016/j.jebo.2013.01.010
   Google Scholar
• Buchak, G., Matvos, G., Piskorski, T., Seru, A. (2022). iBuyers: Liquidity in Real Estate Markets [Working Paper]. Stanford University.
   Google Scholar
• Calem, P. S., Lambie-Hanson, L., Nakamura, L. L., Kenney, J. H. (2018). Appraising home purchase appraisals, (WP 18-28). Federal Reserve Bank of Philadelphia.
   Google Scholar
• Cardella, E., & Seiler, M. J. (2016). The Effect of Listing Price Strategy on Real Estate Negotiations: An Experimental Study. Journal of Economic Psychology, 52(February), 71–90. https://doi.org/10.1016/j.joep.2015.11.001
   Google Scholar
• Cypher, M., Price, S. M., Robinson, S. J., & Seiler, M. J. (2018). Price Signals and Uncertainty in Commercial Real Estate Transactions. The Journal of Real Estate Finance and Economics, 57(2), 246–263. https://doi.org/10.1007/s11146-017-9617-0
   Web of Science ®Google Scholar
• Dimmock, S. G., Kouwenberg, R., Mitchell, O. S., & Peijnenburg, K. (2016). Ambiguity Aversion and Household Portfolio Choice Puzzles: Empirical Evidence. Journal of Financial Economics, 119(3), 559–577. https://doi.org/10.1016/j.jfineco.2016.01.003
   PubMed Web of Science ®Google Scholar
• Elder, H. W., Zumpano, L. V., & Baryla, E. A. (1999). Buyer Search Intensity and the Role of the Residential Real Estate Broker. The Journal of Real Estate Finance and Economics, 18(3), 351–368. https://doi.org/10.1023/A:1007737102125
   Web of Science ®Google Scholar
• Guiso, L., Sapienza, P., & Zingales, L. (2013). The Determinants of Attitudes Toward Strategic Default on Mortgages. The Journal of Finance, 68(4), 1473–1515. https://doi.org/10.1111/jofi.12044
   Web of Science ®Google Scholar
• Greenwood, M., & Van Buren, H. J. III. (2010). Trust and Stakeholder Theory: Trustworthiness in the Organisation–Stakeholder Relationship. Journal of Business Ethics, 95(3), 425–438. https://doi.org/10.1007/s10551-010-0414-4
   Web of Science ®Google Scholar
• Jeon, Y., Seiler, M. J., & Seo, Y. (2023). The Impact of Public Information on Housing Market Decisions: Evidence from Third-party AVMs. Journal of Real Estate Research, 45(1), 83–110. https://doi.org/10.1080/08965803.2022.2060905
   Web of Science ®Google Scholar
• Kim, T. J., & Srivastava, J. (2022). To Partition or Not to Partition: Effect of Partitioning Prices on Consumer Evaluations of Purchases Involving Trade-Ins. Journal of Consumer Psychology, 32(2), 251–273. https://doi.org/10.1002/jcpy.1238
   Web of Science ®Google Scholar
• Lusardi, A., & Mitchell, O. S. (2014). The Economic Importance of Financial Literacy: Theory and Evidence. Journal of Economic Literature, 52(1), 5–44. https://doi.org/10.1257/jel.52.1.5
   PubMed Web of Science ®Google Scholar
• Marshall, A. (1975). Early Economic Writings of Alfred Marshall 1867-1890., J. Whitaker (ed.)Macmillan.
   Google Scholar
• Oishi, S., & Tsang, S. (2022). The Socio‐Ecological Psychology of Residential Mobility. Journal of Consumer Psychology, 32(3), 519–536. https://doi.org/10.1002/jcpy.1310
   PubMed Web of Science ®Google Scholar
• Ottati, GDei. (1994). Trust, Interlinking Transactions and Credit in the Industrial District. Cambridge Journal of Economics, 18(6), 529–546. https://doi.org/10.1093/oxfordjournals.cje.a035289
   Web of Science ®Google Scholar
• Pena‐Marin, J., & Wu, R. (2019). Disconfirming Expectations: Incorrect Imprecise (vs. Precise) Estimates Increase Source Trustworthiness and Consumer Loyalty. Journal of Consumer Psychology, 29(4), 623–641. https://doi.org/10.1002/jcpy.1117
   Web of Science ®Google Scholar
• Pena‐Marin, J., & Yan, D. (2021). Reliance on Numerical Precision: Compatibility Between Accuracy Versus Efficiency Goals and Numerical Precision Level Influence Attribute Weighting in Two‐Stage Decisions. Journal of Consumer Psychology, 31(1), 22–36. https://doi.org/10.1002/jcpy.1178
   Web of Science ®Google Scholar
• Rammstedt, B., & John, O. P. (2007). Measuring personality in one minute or less: A 10-item short version of the Big Five Inventory in English and German. Journal of Research in Personality, 41(1), 203–212.
   Google Scholar
• Seiler, M. J., Seiler, V. L., & Lane, M. A. (2012). Mental Accounting and False Reference Points in Real Estate Investment Decision Making. Journal of Behavioral Finance, 13(1), 17–26. https://doi.org/10.1080/15427560.2012.653293
   Web of Science ®Google Scholar
• Seiler, M. J., Seiler, V. L., Traub, S., & Harrison, D. M. (2008). Regret Aversion and False Reference Points in Residential Real Estate. Journal of Real Estate Research, 30(4), 461–474. https://doi.org/10.1080/10835547.2008.12091229
   Web of Science ®Google Scholar
• Seiler, M. J., & Yang, L. (2023). The Burgeoning Role of iBuyers in the Housing Market. Real Estate Economics, 51(3), 721–753. https://doi.org/10.1111/1540-6229.12384
   Google Scholar
• Simpson, B., & McGrimmon, T. (2008). Trust and Embedded Markets: A Multi-Method Investigation of Consumer Transactions. Social Networks, 30(1), 1–15. https://doi.org/10.1016/j.socnet.2007.04.004
   Web of Science ®Google Scholar
• Sun, H., & Seiler, M. J. (2013). Hyperbolic Discounting, Reference Dependence and its Implications for the Housing Market. Journal of Real Estate Research, 35(1), 1–23. https://doi.org/10.1080/10835547.2013.12091350
   Web of Science ®Google Scholar
• Swope, K. J., Cadigan, J., & Schmitt, P. (2014). That’s My Final Offer! Bargaining Behavior with Costly Delay and Credible Commitment. Journal of Behavioral and Experimental Economics, 49(April), 44–53. https://doi.org/10.1016/j.socec.2014.02.005
   Google Scholar
• Venkateswaran, V., Kumar, D. S., & Gupta, D. (2021). To Trust or Not: Impact of Camouflage Strategies on Trust in the Sharing Economy. Journal of Business Research, 136(C), 110–126. https://doi.org/10.1016/j.jbusres.2021.07.023
   Google Scholar
• Yoon, S., & Fong, N. (2019). Uninformative Anchors Have Persistent Effects on Valuation Judgments. Journal of Consumer Psychology, 29(3), 391–410. https://doi.org/10.1002/jcpy.1091
   Web of Science ®Google Scholar
• Zahirovic-Herbert, V., Gibler, K. M., & Chatterjee, S. (2016). Financial Literacy, Risky Mortgages, and Delinquency in the US during the Financial Crisis. International Journal of Housing Markets and Analysis, 9(2), 164–189. https://doi.org/10.1108/IJHMA-12-2014-0060
   Google Scholar
• Zillante, A., Read, D. C., & Seiler, M. J. (2019). Using Prospect Theory to Better Understand the Impact of Uncertainty on Real Estate Negotiations. Journal of Real Estate Research, 41(1), 75–105. https://doi.org/10.1080/10835547.2019.12091521
   Web of Science ®Google Scholar