个人代理人，企业和房地产经纪过程[外文翻译]

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1、本科毕业设计（论文）外文翻译IndividualAgents,Firms,andtheRealEstateBrokerageProcessIntroductionThisstudyexamineshowindividualagentsaffecthousesellingpricesandtimeonthemarketwhilecontrollingforbrokeragefirm-specificeffectsaswellassupplyanddemandconditionsthatvarybyneighborhood.Theexistingth

2、eoreticalandempiricalresearchonrealestatebrokeragetendstoblurthedistinctionbetweenthefirmandindividualagentswithinfirms.Asaconsequence,theempiricalliteraturestudyingthehousingmarket-brokernexusdealsprimarilywithidentifyingfirmleveleffectsinrealestatetransactionsandthegrowings

3、tockofempiricalevidenceoffersonlylimitedinsightintohowindividualagentcharacteristicsorstrategiesaffectsalesoutcomes.Thisstudyexaminestheeffectsofagents’uniqueskillsandrevealedstrategiesinthemarketasreflectedinvariousdegreesofagentspecializationbyfunction(e.g.,listing,selling,

4、andpartnering)orbygeographicarea.ThispaperextendsthemodeldevelopedinTurnbullandDombrow(2006)tostudyindividualagenteffectsontransactionoutcomes.Theframeworkcontrolsforlocalizeddemandandsupplyconditionssurroundingthehousebeingsold,whichallowsustoseparatetheeffectsoflocalizedmar

5、ketconditionsfromtheeffectsofagentspecializationacrosslocationsonpricesandmarketingtimes.Inaddition,thisapproachmodelsbothsellingpriceandmarketingtimeasendogenousinthesearch/matchingprocess,whichenablesustopickuptheseparateeffectsoffirmsandagentsonbothhousesalespriceandsalest

6、ime.Usingtransactiondatacoveringa2-yearperiodinBatonRouge,Louisiana,wefindthatfirmsizeeffectsonsellingpricedisappearoncefirmspecializationandagentcharacteristicsaretakenintoaccount.Geographicconcentrationbyfirmsleadstohighersellingprices.Houseslistedandsoldbydifferentagentsin

7、thesamefirmsellforless.Forindividualagents,neithersexnorsellingownlistingsaffectspriceorsellingtime,buttherearesignificantgainsfrompartneringtransactionsacrossfirms.Agentswhospecializeinlistingpropertiesobtainhigherpricesfortheirsellerswhilethosewhospecializeinsellingobtainlo

8、werpricesfortheirbuyers.Housesnearertoothertransactionsofanagentsell