决定通过房地产经纪人买房子[外文翻译]

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1、本科毕业设计（论文）外文翻译原文：BuyingaHouseandtheDecisiontoUseaRealEstateBrokerIntroductionWhatisitthatresidentialrealestatebrokersdoandwhywouldahomebuyerengagetheirservices?Asisoftenthecase,answeringthisquestionisnotasimpletask.Homebuyerswhoacquiretheirhousethroughabrokerdonotpurchasejustahouse--theyal

2、soobtaintheservicesofthebroker.Inotherwords,thesebuyersareconsumingabundledgood.Onedimensionofthisgoodislowersearchtime,andthuslowersearchcosts,associatedwithbuyingthroughabroker.Recentresearch(BarylaandZumpano,1995)suggeststhatchoosingabrokerimprovesthemarginalefficiencyofsearch,makingitm

3、orelikelythatabuyerwillfindasatisfactorymatchearlierinthesearchprocess.Buyingthroughabrokeralsoincreasesthesupplyofhousesavailabletobuyers,andprovidesbuyerswithinformationonthequalityofdifferenthousesandtheneighborhoodsinwhichtheyarelocated.Brokersfrequentlyhelpbuyersidentifysourcesofmortg

4、agefinancingandpropertyinsurance,aswellasassistbuyersinrecordingthetitle.Alloftheseservicessuggestthatbrokersprovidevalueaddedtobuyers(inadditiontoprovidingaservicetosellers),somethingthatthesebuyerswouldbewillingtopayfor.Thus,thisbundleofservicesandthehousethatispurchasedwould,intuitively

5、,bepricedhigherthanhomespurchasedwithouttheassistanceofabroker.Severalstudies(JanssenandJobson,1980;JudandFrew,1986)observethatbuyerspaymoreforhomeslistedwithbrokers.Itisnotpossible,however,todeterminewhetherthisappliestotheentireresidentialhousingmarket,sinceresearchtothispointhasreliedon

6、localdata.Higherpricesindicateawillingnessbybuyerstopaymoreforbroker-listedhousesthanthosesolddirectlybyowners.Alternatively,competitionfromfor-sale-by-ownerpropertiesmaypreventsellersfrompassingoncommissioncoststobuyersintheformofhigherprices.Therefore,atissueiswhetherbroker-assistedsales

7、resultinhigherprices.Ifsearchdurationisaffectedbybrokerassistance,whataboutprice?Thisstudy10attemptstoanswerthesequestionsbydevelopinganempiricallytestablemodelofbrokerchoice.Intheprocess,thisstudyshouldprovideimportantinsightsintotheefficiencyoftheresidential