The Economic Effects of the 2024 NAR Settlement

Last registered on September 27, 2024

Pre-Trial

Trial Information

General Information

Title
The Economic Effects of the 2024 NAR Settlement
RCT ID
AEARCTR-0014192
Initial registration date
August 16, 2024

Initial registration date is when the trial was registered.

It corresponds to when the registration was submitted to the Registry to be reviewed for publication.

First published
September 26, 2024, 12:23 PM EDT

First published corresponds to when the trial was first made public on the Registry after being reviewed.

Last updated
September 27, 2024, 2:51 PM EDT

Last updated is the most recent time when changes to the trial's registration were published.

Locations

Region

Primary Investigator

Affiliation
Rice University

Other Primary Investigator(s)

PI Affiliation
Rice University

Additional Trial Information

Status
On going
Start date
2024-08-01
End date
2025-02-28
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
This study will examine the economic effects of the 2024 NAR settlement by combining administrative data with a large scale survey of real estate agents.
External Link(s)

Registration Citation

Citation
Duarte, Jefferson and David Zhang. 2024. "The Economic Effects of the 2024 NAR Settlement." AEA RCT Registry. September 27. https://doi.org/10.1257/rct.14192-1.2
Experimental Details

Interventions

Intervention(s)
The intervention involves a random survey of real estate agents as well as analysis of administrative MLS data.
Intervention Start Date
2024-08-01
Intervention End Date
2025-02-28

Primary Outcomes

Primary Outcomes (end points)
Real estate commissions paid by sellers' and buyers' agents
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
While not the main part of the study, different survey invites are tested to maximize response rates.
Experimental Design Details
Not available
Randomization Method
Randomization was done by Qualtrics
Randomization Unit
individual
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
40
Sample size: planned number of observations
5000
Sample size (or number of clusters) by treatment arms
2000 in the pre-NAR period, 3000 in the post-NAR period
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
Assuming a Type I error threshold (alpha) of 0.05 and assuming a standard deviation of commission rates of 0.5, the survey has 95% power to detect an effect size of 0.052, which is one-tenth of the assumed standard deviation of commission rates.
Supporting Documents and Materials

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IRB

Institutional Review Boards (IRBs)

IRB Name
Rice University
IRB Approval Date
2024-07-30
IRB Approval Number
IRB-FY2025-19
Analysis Plan

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