The paper aims to diagnosis the Strategic Management practices in real estate agencies in the city of Santa Maria – Brazil. For this, a questionnaire was developed by the authors with aid from Google ...Docs tool and was sent through an electronic mail to all real estate agencies, from which 25 agencies responded, representing about 56.8% of all agencies contacted. The main finding is the inefficiently structured strategic management in the real estate management, which includes a series of aspects, such as strategic planning, indexes, SWOT analysis and employees training. Although the economic outlook was positive for real estate agencies in the last years, if they had gotten used tools of strategic management, the agencies could been enjoying a stronger financial and strategic position. Thus, the major implication of this paper is contributed broad diagnosis the strategic management operation in real estate agencies in the city of Santa Maria – Brazil.
This study follows the stream of research identifying sentiment trends by using online search query data. The potential of the Google data series for the U.K. housing market on a disaggregated level ...is analyzed in a panel VAR framework. Our findings confirm research based on U.S. samples that Google subcategories, especially “Real Estate Agency,” serve as an indicator of transaction volume. Our main contribution is the detection of contrary dynamics within the Google “Home Financing” subcategory, which to date yields empirically mixed evidence (Hohenstatt, Kaesbauer, and Schaefers, 2011). Sensitivity analysis yields that transaction volume responds twice as sensitively as house prices due to a standard deviation increase of the stress indicator. Most importantly, the derived stress indicator of housing market (un-)soundness works at least as well as in downturns, as opposed to “Real Estate Agency,” which is primarily a suitable indicator during upturns.
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Our study examines how immigrants cluster in co-ethnic neighborhoods. We systematically explore the effects of three factors on the co-ethnic clustering of immigrants: economic resources, co-ethnic ...preferences, and the use of co-ethnic information sources. The study is based on a unique data set that provides rarely available rich information on housing search collected in Toronto in 2006. Focusing on Asian Indians and Chinese immigrants, the results clearly suggest that of all preferences, only co-ethnic preference is related to co-ethnic clustering of the two groups when income and use of co-ethnic resources are taken into consideration, and that levels of co-ethnic clustering are not related to the economic resources of immigrants. The findings also reveal that some effects are distinctive to specific groups. Although immigrants use various co-ethnic resources to obtain housing information, only the use of co-ethnic real estate agents is significant, and that only for the clustering of Chinese, not for Asian Indians.
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This article uses sociological role theory to help understand ethical challenges faced by Norwegian real estate agents. The article begins with an introductory case, and then briefly examines the ...strengths and limitations of using legal definitions and rules for understanding real estate agency and real estate agent ethics. It goes on to argue that the ethical challenges of real estate agency can be described and understood as a system of conflicting roles with associated rights and duties, in particular sales agent, intermediary and adviser sub-roles. The arguments are developed using exploratory findings from a survey of Norwegian real estate agents and from several focus groups. The article then suggests the use of various intranet tools as a kind of action research aimed at putting ethics on the real estate agents' agenda, working to develop a collective conscience and collective selfcriticism among the agents, and, in doing so, building bridges between academic research and the practical working world of the agents.
Much of the recent urban literature on suburban employment centres has neglected the role of high-order services, perhaps the principal component of 'edge cities', in the creation of the evolving ...multinucleated metropolitan structure. This paper specifically explores the role of high-order services in this process. We use employment by place-of-work data at the census-tract level to examine the changing intrametropolitan geography of employment in four finance, insurance and real estate (FIRE) services and eight business services in the Montreal area over the period 1981-96. We find evidence of central business district (CBD) decline in relative, but not absolute, terms. The resulting decentralisation has clearly assumed the form of polycentricity rather than of generalised dispersion. In spite of recent advances in telecommunications technologies, agglomeration economies continue to exert an important impact upon intrametropolitan location.
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Google econometrics (Geco) is a powerful tool for research based on individuals rational. Following the seminal work of Ginsberg et al. (2009), this is another paper based on search query data from ...Google Insights for Search (I4S). Information on the home buying process is embedded in existing literature on the price-volume relationship in the housing market. The main findings are: I4S subcategories yield inferences about prices and transactions in the near future. While the “Real Estate Agency” subcategory serves as a very robust indicator of transaction volume, “Home Financing” provides interesting insights into the corresponding financing decisions. Therefore, this study seeks to improve the informational efficiency of a relatively imperfect market and is addressed to policymakers as well as real estate professionals.
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Members of licensed occupations benefit from legal standards that limit entry into their professions. Is it ethical for these professionals to give political support to these standards? I examined ...the case of real estate brokers and found that their educational requirements raise average commissions by one quarter of a percentage point, costing consumers $5.4 billion per year without improving the quality of brokerage services. The case raises interesting ethical issues which are difficult to resolve.
The intellectual contributions of real estate to the larger body of knowledge makes real estate interdisciplinary, often creating difficulty related to where real estate publications stand compared ...to the traditional disciplines of economics, finance, marketing, urban studies, public administration, and sociology. The purpose of the Real Estate Academic Leadership (REAL) rankings is to highlight the authors and institutions demonstrating achievement in intellectual contributions to the field of real estate. The rankings provide an opportunity to measure the authors and institutions engaged in real estate research against one another. Moreover, for those being evaluated for promotion and tenure, REAL offers a source for evaluation relative to one’s peers. Ultimately, the REAL rankings index allows outside institutions and individuals to understand where the greatest occurrence of high-level research is currently being conducted.
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In this paper, we discuss what is needed to deliver behavioral real estate education in the classroom and research for publishing in top journals. We specifically address the various levels of ...behavioral study involvement ranging from including a simple sentiment index into a well-established hedonic model to investing in a multi-million dollar fMRI facility. Behavioral and experimental real estate education and research is here to stay, and those who wish to deliver content through this medium need to know how to get started. To this end, we discuss the physical space needed to build an experimental lab, the technology one might place in the lab, associated costs, as well as details relating to how a behavioral real estate lab might be configured.
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This paper examines Internet usage and the effect on buyer search efficiency using a two-stage Heckman procedure. Results indicate that as Internet usage increased, search duration increased, which ...differs from earlier research that found that the Internet had no significant effect on search duration, even though it increased search intensity. This study finds that the Internet increased buyer search intensity when market conditions were favorable for buyers. If the only effect of online search is an increase in search duration without a commensurate increase in benefits to buyers, the Internet may slow the market clearing process and increase seller holding costs.
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