The Role of Real Estate Agents as Information Mediators in Two American Cities

1976 ◽  
Vol 58 (1) ◽  
pp. 28 ◽  
Author(s):  
Risa Palm
Keyword(s):  
Real Estate ◽  
Information Mediators ◽  
Real Estate Agents ◽  
American Cities

scholarly journals The Price of Inattention: Evidence from the Swedish Housing Market

2019 ◽  
Vol 18 (6) ◽  
pp. 3261-3304
Author(s):  
Luca Repetto ◽  
Alex Solís
Keyword(s):  
Real Estate ◽  
Housing Market ◽  
High Stakes ◽  
Behavioral Biases ◽  
Round Number ◽  
Round Numbers ◽  
Real Estate Agents

Abstract Do behavioral biases affect prices in a high-stakes market? We study the role of left-digit bias in the purchase of an apartment. Left-digit bias is the failure to fully process digits after the first, perceiving prices just below a round number (such as $3.99) as cheaper than their round counterpart ($4). Apartments with asking prices just below round millions are sold at a 3%–5% higher final price after an auction. This effect appears not to be driven by differences in observables or in real estate agents’ behavior. Auctions for apartments listed just below round numbers are more competitive and attract more bidders and bids.

scholarly journals Trust and Distrust in the Relationships between Construction Firms and Real Estate Agents: Empirical Evidence from Italy

2016 ◽  
Vol 11 (4) ◽  
pp. 37
Author(s):  
Oronzo Trio ◽  
Antonio Iazzi
Keyword(s):  
Real Estate ◽  
Mutual Recognition ◽  
Sales Force ◽  
Construction Firms ◽  
Roles And Responsibilities ◽  
Real Estate Agents ◽  
Residential Market ◽  
Depth Interviews ◽  
Potential Customers

<p>The aim of this research is to study the characteristics of the relationships between construction firms and real estate agents in order to understand the nature and the role of trust.</p><p>In the construction industry trust plays a fundamental role as consequence of the long-lasting nature of the residential product, the big investment made in transaction specific assets, and the overlapping roles and responsibilities of the parties involved.</p><p>Real estate agents are the connecting element between the firm and the market and represent a kind of intermediary between buyers and builders.</p><p>Since they could assume an opportunistic behavior, in contrast with the builders’ interest, the construction firms need to keep the control over the internal or external sales force.</p><p>At this end we represent, through 30 in-depth interviews to builders and agents that operate in the Italian residential market, the actors’ points of view on their relationship and on the role of trust for a good relationship with potential customers.</p>Starting from the assumption that the main relevant theoretical dimensions of trust in this field are competence, affective and reputational trust, the research reveal a very low level of trust, both for the insufficient mutual recognition and for the scarce level of perceived transparency in the behavior of the counterpart. The builders and agents have many difficulties in their mutual relationship. There is no collaborative approach. The opportunism affects the behaviors both for the builders’ criticality in selling and for seeking a royalty on the agent’ side.

scholarly journals The Role of Technology in Supporting Communication for Real Estate Agents – Evaluation of the Phenomenon

2019 ◽  
Vol 2 (341) ◽  
pp. 137-160
Author(s):  
Magdalena Zalewska-Turzyńska ◽  
Anna Miklaszewska
Keyword(s):  
Real Estate ◽  
Service Sector ◽  
Service Industry ◽  
Empirical Studies ◽  
Technological Support ◽  
The Real ◽  
The Real Estate ◽  
Real Estate Brokerage ◽  
Real Estate Agents

Globalization and the development of modern information technology have contributed to the higher importance of communication technological support and its use between the client and the entrepreneur in the service industry. Such tendencies also apply to real estate companies, in particular to real estate agents and brokers. The purpose of this article is to identify the level of service adaptation of the real estate brokerage industry to the general tendencies characterizing the service sector. Two research questions were proposed in the article. The first one is about adjustment of the communication tools used by the real estate brokerage industry to the trends in the services market. The second one includes the assessment of the tools’ efficiency in the opinion of the estate brokers and agents. The literature and critical analysis as well as an introductory survey of real estate agents and brokers were all used in this paper. The introductory survey was conducted with the use of webform among real estate agents affiliated to Powszechne Towarzystwo Ekspertów i Doradców Rynku Nieruchomości, between the 2nd of October and 15th of November 2017. After a basic analysis, we can conclude that the real estate sector is quite similar to other services’ sectors as far as the new means of communication usage in contacts with clients are concerned. The empirical studies results show that tools such as smartphone and laptop in combination with social media play an important role in today’s communication trends. The role of traditional means of communication, on the other hand, such as leaflets and newspapers has significantly decreased.

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