PurposeThe purpose of this paper is to explore the relationship between formal ethics and ethics in practice in the empirical context of real estate agents (REAs) working in the residential housing ...market, including owner-occupied houses and owner-occupied apartments, in Sweden. The paper investigates problems with the Swedish middleman model of real estate agency with regard to the acceptance among REAs of borderline professional behavior.Design/methodology/approachWe report on a survey distributed to all Swedish licensed residential REAs to investigate their attitudes towards eight scenarios displaying borderline ethical behavior. Firstly, the means of each scenario were calculated, investigating signs of distance between formal ethics and ethics in practice. Secondly, logistic regressions were run for each scenario separately, thereby investigating factors affecting misconduct among REAs.FindingsThe empirical results show a clear difference between formal ethics and ethics in practice and also illustrate that some scenarios of borderline ethical behavior are creating greater problems for the REAs.Practical implicationsIn Sweden, the seller is the principal, assigning the REA to sell a house or apartment, but the regulation is clear on the role of the licensed REA as responsible for promoting an informed and fair sales process where the buyer is safe to act without their own representative. Our study contributes with information to policymakers on possible areas for the development of the middleman model.Originality/valueThe paper is the first to empirically investigate the middleman model of a Swedish real estate agency in relation to the business ethics of the agents. The use of scenarios in close relation to the everyday working context of REAs as tests of ethics of practice is also of original methodological value to investigate possible diversions of professionals from national regulations.
This article evaluates the effect of a nationwide public policy designed to reduce discrimination in access to accommodation in the private rental housing market. We carried out a correspondence test ...with 3260 real estate agencies to assess the likelihood of discrimination based on ethnic origin. This test allowed us to identify about 10% of agencies likely to exhibit discriminatory behavior. These agencies were randomly divided into two groups: one group received a formal letter warning them that they had been monitored and reminding them of the legal sanctions to which they were exposing themselves and the other group received no communication. We then re-tested all these real estate agencies for two years and compared their responses. The results indicate that the warning message has a substantial and long-lasting effect on discrimination: it decreases discrimination in the treated group by 80% for at least two years.
•We assess the impact of a formal warning to reduce housing discrimination.•The warning is reminder of the law sent by a French institution.•We evaluate the effect of the warning by crossing two experimental methods.•The warning message has a substantial and long-lasting effect on discrimination.
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GEOZS, IJS, IMTLJ, KILJ, KISLJ, NLZOH, NUK, OILJ, PNG, SAZU, SBCE, SBJE, UILJ, UL, UM, UPCLJ, UPUK, ZAGLJ, ZRSKP
Purpose A perusal of extant literature suggests asymmetric devotions in empirical research that overlooks unique social and industrial dynamics of married working women in highly competitive ...male-dominated industries. Drawing on the social role theory, the study addressed this asymmetry by proposing a multivariate regression model that examined performance drivers of married female real estate brokers, as mediated by organizational, cognitive and social influences. Design/methodology/approach The study employed a descriptive design. A structured electronic questionnaire was used to collect data from a sample of 256 married female brokers who are active on online messaging platforms. Snowball sampling was used to reach the research participants. Collected data were subjected to multivariate regression analysis. Findings The results infer that social influences were the most significant drivers of married female brokers in the real estate industry ( r = 0.932, p < 0.05, F = 556.581). Significant interventions of diversity management, work-life balance, family support and access to economic opportunities were found. Practical implications In acknowledging the societal stereotype and culturally imposed burdens married women face in emerging economies, the study advanced theoretical, practical and policy initiatives for a more inclusive, supportive and learning-oriented work environment. Originality/value The novelty of the paper lies in its exposition of the unregulated real estate brokerage market in an emerging economy and the dynamic organizational, cognitive and societal influences of married female brokers.
PurposeThis study aims to analyse the criteria used in measuring the determinants of the adoption of virtual reality (VR) technology in real estate agency practice in Lagos, with a view to providing ...information with which the practice can be enhanced.Design/methodology/approachThe data for the study were elicited using a questionnaire which was administered to eight real estate firms (REFs). The firms were those that have been operating in Lagos for at least five years, and the data collected were analysed using the DEMATEL method.FindingsThe findings revealed that perceived utility and relative advantage were the most important criteria for determining REFs' performance expectancy with VR technology. The two most important criteria to measure effort expectancy were “perceived ease of use” and complexity. “Subjective norms” was the most important criterion for measuring social influence, while “perceived behavioural control” was the most important criterion to measure facilitating conditions. Under “price value”, output quality was the only significant criterion. Finally, the frequency of use, the actual number of use and the amount of time spent utilising the technology were significant for measuring the REFs' use behaviour.Practical implicationsThe study offers insights into the criteria that can assist REFs in integrating VR technology into real estate agency practice. The results are also helpful to the Nigerian real estate professional bodies to organise workshop programmes for REFs on the use of VR technology and other disruptive technologies. The results will also serve as a guide for REFs to gain a competitive advantage in this trying time of pandemic and help them measure up to global standards and the expectations of their clients.Originality/valueBefore this study, efforts have not been made to study the criteria for measuring the determinants of VR technology adoption in the Nigerian real estate agency practice.
PurposeThe purpose of this study is to analyze and compare the level of professionalization of the real estate broker's occupation in Victoria, Australia, and Sweden. As previous studies have ...indicated that the real estate agent occupation in both regions is experiencing low levels of trust, an analysis of the level of professionalization is warranted.Design/methodology/approachThe data used in the analysis in this paper have been gathered from a number of different high-quality sources. In Sweden, information has been obtained from the Swedish Real Estate Agents Inspectorate, the Association of Swedish Real Estate Agents and the Swedish Real Estate Agents Association, and Real Estate Statistics. For the Victorian case, information has been obtained from the Real Estate Institute of Victoria, which is the leading professional body in organizing real estate agents. Furthermore, information has also been sourced from the Business Licensing Authority as well as Consumer Affairs Victoria. The focus of the analysis has been on the institutional changes of the real estate profession, including the education required to become an agent, the legislation and supervision of real estate agents and the role of the professional bodies that organize the real estate agents. 10;FindingsThe analysis shows that both the real estate brokerage market in Victoria and Sweden could be characterized as mature. Using the definition of a profession from Millerson (1964), the authors conclude that the brokerage industry has a number of the characteristics of a profession such as a long albeit interdisciplinary education, strong professional bodies, code of conduct and some level of self-regulation.Research limitations/implicationsThis research examines two countries, both considered mature in their house market process. Findings may be very different if the research methodology was applied to house markets that do not exhibit the same level of regulatory control.Practical implicationsEven though the real estate occupation can be considered as a semi-profession, there is still room for improvement when it comes to how consumers perceive the trustworthiness of real estate agents. Therefore, the professional bodies ought to strive to find ways on increasing the status and trustworthiness of the profession. These could include increasing the transparency as well as continuing education for its members.Social implicationsUsers of real estate services need to have confidence in the skills and expertise of real estate agents they engage. The magnitude of the monies associated with real estate transactions should cause users to seek out agents who are proficient in what they do, and to this end, the professionalism of agents is critical to the provision of accurate and informative information to guide users toward positive and beneficial outcomes.Originality/valueTo the best of the authors’ knowledge, this is the first study that analyzes and compares the development of the real estate profession in Victoria and Sweden, using theories from the study of professions.
Purpose>The study analysed the factors influencing real estate firms' (REFs) decision to adopt virtual reality (VR) technology using the Decision-Making Trial and Evaluation Laboratory (DEMATEL) ...method. This was done to enhance the practice of real estate agency in Nigeria.Design/methodology/approach>Data were elicited from eight real estate experts. These experts were heads of the agency department of firms that had been in existence for a minimum of five years in the Lagos property market. The data analysed in this study were collected with the aid of a questionnaire.Findings>The result revealed that use intention was influenced by performance expectancy, effort expectancy, social influence, facilitating conditions, hedonic motivation, price value and UB. Also, facilitating conditions, habit and use intention did not influence use behaviour. Overall, six constructs, which include price value (Ri − Cj value = 0.1284), use behaviour (Ri − Cj value = 0.0666), social influence (Ri − Cj value = 0.0583), facilitating conditions (Ri − Cj value = 0.0323), performance expectancy (Ri − Cj value = 0.0196) and effort expectancy (Ri − Cj value = 0.0116), were significant predictors of the factors influencing the decision of REFs to adopt VR. Of these constructs, the Ri − Cj values indicated that price value had the highest causative influence.Practical implications>The result of this study will bring REFs to the consciousness of the factors that could affect their adoption of VR technology. This study will also assist the Nigerian Institution of Estate Surveyors and Valuers in appropriately enlightening REFs on the integration of VR technology into the agency practice especially at this time when all health protocols and guidelines need to be observed to help flatten the curve of the Covid-19 pandemic.Originality/value>This study is the first to have an insight into the analysis of the factors influencing REFs' decision to adopt VR technology using the DEMATEL method.
An arrangement to fix, control or maintain prices is the classic competition law per se offence, and is deemed to substantially lessen competition under section 30 of the 'Commerce Act 1986'. ...However, it is currently unclear when arrangements that do not explicitly concern price fall within the ambit of section 30. This article examines the recent Court of Appeal decision in 'Commerce Commission v Lodge Real Estate Ltd' which found that the defendants were liable under the per se offence provisions. It contends that the Court of Appeal took the overseas case law out of context, misunderstood key factual findings made by the High Court at first instance and overlooked important legal and policy considerations. As a result it is argued that Lodge sets an unfortunate precedent that should be overruled or strictly confined to its own facts.
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IZUM, KILJ, NUK, PILJ, PNG, PRFLJ, SAZU, UL, UM, UPUK
PurposeThis paper examines the effects of non-professionals' involvements in real estate service provision on real estate agency practice in Ibadan Nigeria, in order to provide information that could ...enhance real estate agency practice in the country.Design/methodology/approachData were gathered through questionnaire administration on a total sample of 232 respondents comprising 82 estate surveyors and valuers, 100 non-professional estate agents and 25 real estate agency service consumers each from the respective clients of the two groups. A respondent-driven sampling (RDS) technique was adopted for data collection and was particularly useful in accessing non-professionals with characteristically less identifiable organizational structure. Data were analysed using mean scores on a Likert type scale while Spearman rank correlation was used to compare and establish if significant differences exist between the perceptions of clients of professionals and non-professionals on the services provided.FindingsThis study revealed that while the involvement of non-professionals in real estate agency practice deprives professionals of opportunities for legitimate earnings and is attributed to incidences of fraudulent transactions in the market, non-professionals often also serve as facilitators of transactions for the professionals. Hence, there seems to be a symbiotic relationship between the two groups and also a tacit validation of the involvement of the former by the latter.Originality/valueThis work contributes to and extends the body of knowledge on non-professionals' involvement in real estate professional practice by providing insights into the effects of activities of individuals who are not members of the real estate profession on real estate agency professional practice, particularly in the context of an emergent and less transparent market.
What would happen if residents were allowed total design control over their new town, its food production, its highways and its fuel consumption? Winy Maas, founding partner and Principal Architect ...of global practice MVRDV, introduces us to Freeland – an attempt at the total democratisation of masterplanning from the bottom up. Inhabitants can do almost anything but must also take a wider responsibility for the community.
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BFBNIB, FZAB, GIS, IJS, KILJ, NLZOH, NUK, OILJ, SBCE, SBMB, UL, UM, UPUK
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