The influence of the broker on the price dispersion of the second-hand house --An Empirical Study Based on the chain data
Dr. Wang Li, chain Family Research Institute
[time] November 21, 2017 (Tuesday) 10:00-11:30
[location] 502 conference room, Phoenix building, public college of Shanghai University of Finance and Economics
[host] Investment Department of the school of public economics and management, Shanghai University of Finance and Economics
Professor Chen Jie, Professor of investment department at Shanghai University of Finance and Economics
Wang Li is now the head of the industry research center of the chain research institute and received Ph. D. in economics from Renmin University of China in 2009. Her main research fields are the exploration of brokers' professionalism and the study of brokers' behavior. Other research interests include the network of brokers' cooperation, the path of brokers' growth, and the study of the value of the life cycle of the users.
[Abstract] there is no empirical study on the price dispersion of second-hand housing and the influence of brokers' behavior on them at present. The Beijing chain of home network from the listing to the second-hand housing transactions data for the first time, price feature model, survival analysis method based on the price dispersion measurement, and reveals the degree from the listing to the dynamic change of price dispersion, and the role of broker behavior in this process changes. The conclusion is that the housing from the listing to the transaction, the price dispersion of a significant convergence, and brokers focus, with as a screening mechanism, can accelerate the reasonably priced housing turnover, is a key factor in promoting price convergence, and the common sense that brokers to push up prices judgment on the contrary brokers, accelerate the high cost of housing transactions, so that the overall stability of prices; through our survival analysis proved that the accelerated effect, the instantaneous focused housing turnover rate is 2.18 times of non focused housing. Based on these conclusions, this paper believes that the pricing of housing transactions listing the rationality of great influence, strengthen the transparency of market information, improve the second-hand housing brokerage agencies and brokers normative pricing professional and influence, is the key to improve the second-hand housing market transaction efficiency and customer satisfaction.