Simulated comparisons of resale housing sales brokerage patterns

ZHANG Hong; ZHANG Yang; LI Vera; XU Zhao

doi:10.16511/j.cnki.qhdxxb.2016.24.010

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Journal of Tsinghua University(Science and Technology) ›› 2016, Vol. 56 ›› Issue (4) : 399-405. DOI: 10.16511/j.cnki.qhdxxb.2016.24.010

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Simulated comparisons of resale housing sales brokerage patterns

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Abstract

The effects of resale housing sales brokerage patterns on buyer's utility were investigated by the buyer's utility for different brokerage patterns. Actual resale housing trading processes were used to develop mathematical models of the buyer's utility for "single broker" and "double broker" patterns. Matlab was then used to simulate the buyer's utility and related indexes. The findings show that the "single broker" pattern has smaller buyer to broker incentives than the "double broker" pattern, but the broker's search efforts and buyer's utility are bigger. From buyer's utility perspective, the buyer should select the "single broker" pattern to promote the resale housing trading process when all other variables are unchanged.

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buyer's utility / second-hand housing transaction / brokerage pattern / mathematical model

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ZHANG Hong, ZHANG Yang, LI Vera, XU Zhao. Simulated comparisons of resale housing sales brokerage patterns[J]. Journal of Tsinghua University(Science and Technology). 2016, 56(4): 399-405 https://doi.org/10.16511/j.cnki.qhdxxb.2016.24.010

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