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A study of negotiation in the single-family housing market: An emphasis on the role of pretransaction frames
Abstract
The overall problem addressed in this study is to examine the role of seller pretransaction frames and selling process events in affecting pretransaction negotiation orientation, unilateral price concessions, and time on market in the sale of single-family homes by homeowners. In addition, the influence of negotiation orientation on negotiation outcomes is examined. This study attempts to integrate an interpretive perspective of negotiation as espoused by Neale and Bazerman (1991, p.7) into the framework of a theoretical marketing model of consumer negotiated pricing proposed by Evans and Beltramini (1987). In an interpretive context, this paper applies prospect theory (Kahneman and Tversky 1979) and the associated concept of framing (Tversky and Kahneman 1981) to the study of consumer negotiated pricing. The study seeks to investigate the effect of framing in actual home purchase transactions in which differing frames and other conditions are not induced but occur naturally and in which the participants have an actual stake in the transaction. These naturally occurring frames are equity, time, and tax-based frames. The data for the study were collected through a mail survey of individuals who had sold their residences in the city of Lincoln, Nebraska within the last twelve months. The results indicate that time frames have a significant impact on concessionary orientation and unilateral price concession-making. Perceived customer interest in the property was also found to impact concessionary orientation and unilateral price concession making during the selling process. In addition, an inverse relationship between the length of time the property was on the market and the level of seller satisfaction was supported. There was also some limited support found for the role of ownership framing and tax framing in affecting negotiation orientation. Limitations of prospect theory and framing paradigms are discussed. There may be difficulties in identifying and measuring framing effects in "real world situations", as opposed to laboratory studies, due to overlapping frames and the relatively small effects associated with individual frames.
Subject Area
Marketing
Recommended Citation
Witte, Carl L, "A study of negotiation in the single-family housing market: An emphasis on the role of pretransaction frames" (1997). ETD collection for University of Nebraska-Lincoln. AAI9736960.
https://digitalcommons.unl.edu/dissertations/AAI9736960