Abstract
Past studies found that passage of mandatory disclosure statutes did not improve real estate consumers’ reported receipt of agency disclosure. To date, the literature has not provided evidence that consumers are harmed when they do not receive agency disclosure. Using a nationwide dataset from 2012, this study offers three findings. First, the overall proportion of buyers reporting receipt of disclosure has still not improved. Second, receipt of disclosure among ethnic minorities has improved. Finally, there is no evidence that buyers who do not report receipt of agency disclosure pay different prices for homes than buyers who do report receiving disclosure.
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