The twenty-first phase of the 2017 series of academic reports of the investment department

promulgator:公共经济管理学院英文Release time:2017-12-08viewed:60

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.