決定通過房地產(chǎn)經(jīng)紀人買房子【外文翻譯】

1、1本科畢業(yè)設計（論文）外文翻譯原文：原文：BuyingaHousetheDecisiontoUseaRealEstateBrokerIntroductionWhatisitthatresidentialrealestatebrokersdowhywouldahomebuyerengagetheirservicesAsisoftenthecaseansweringthisquestionisnotasimpletask.Homebuyer

2、swhoacquiretheirhousethroughabrokerdonotpurchasejustahousetheyalsoobtaintheservicesofthebroker.Inotherwdsthesebuyersareconsumingabundledgood.Onedimensionofthisgoodislowersearchtimethuslowersearchcostsassociatedwithbuying

3、throughabroker.Recentresearch(BarylaZumpano1995)suggeststhatchoosingabrokerimprovesthemarginalefficiencyofsearchmakingitmelikelythatabuyerwillfindasatisfactymatchearlierinthesearchprocess.Buyingthroughabrokeralsoincrease

4、sthesupplyofhousesavailabletobuyersprovidesbuyerswithinfmationonthequalityofdifferenthousestheneighbhoodsinwhichtheyarelocated.Brokersfrequentlyhelpbuyersidentifysourcesofmtgagefinancingpropertyinsuranceaswellasassistbuy

5、ersinrecdingthetitle.Alloftheseservicessuggestthatbrokersprovidevalueaddedtobuyers(inadditiontoprovidingaservicetosellers)somethingthatthesebuyerswouldbewillingtopayf.Thusthisbundleofservicesthehousethatispurchasedwouldi

6、ntuitivelybepricedhigherthanhomespurchasedwithouttheassistanceofabroker.Severalstudies(JanssenJobson1980JudFrew1986)observethatbuyerspaymefhomeslistedwithbrokers.Itisnotpossiblehowevertodeterminewhetherthisappliestotheen

7、tireresidentialhousingmarketsinceresearchtothispointhasreliedonlocaldata.Higherpricesindicateawillingnessbybuyerstopaymefbrokerlistedhousesthanthosesolddirectlybyowners.Alternativelycompetitionfromfsalebyownerpropertiesm

8、aypreventsellersfrompassingoncommissioncoststobuyersinthefmofhigherprices.Therefeatissueiswhetherbrokerassistedsalesresultinhigherprices.IfsearchdurationisaffectedbybrokerassistancewhataboutpriceThisstudy3section2.Insect

9、ion3thedatavariableionmodelaredescribed.section4presentstheempiricalresultsthelastsectioncontainstheconclusionsofthestudy.LiteraturereviewAbroadrangeofresearchhasfocusedonthedeterminantsofhousingprices.Theseincludetradit

10、ionalestimatesofhousingdemhedonicmodelingofhousingpricesthedeterminantsofthetradeoffbetweenpricetimeonthemarketmodelsofthesearchprocess.Otherliteraturehasexaminedtheroleofrealestatebrokershasfocusedontheimpactofbrokerson

11、buyersearchhasexaminedthewelfaremalhazardimplicationsofbrokerintermediation.Fewstudieshavetriedtomeasurethedirecteffectsofrealestatebrokersonthehousingmarketfewerstillonhomesellingprices.Thewkthathasbeenproducedtodatehas

12、oftengeneratedconflictingresults.Inpartthesedisparateresultsmayreflectdataavailabilityproblemsasvirtuallyalloftheseearlierstudieshavebeenbasedonlocaldatasamplestendedtobesmallmakinggeneralizationsdifficult.Inoneofthefirs

13、tempiricalstudiesofbrokerchoiceJanssenJobson(1980)findthatrealestateagentsdohaveanimpactonprice.UsingdatafromtheCanadianhousingmarketJanssenJobsonsresultsindicatethatwithrealestatefirmsofcomparablesizebrokerswholistcompa

14、rablepropertiesfhigherpricesthancompetingbrokerstendtorealizesignificantlyhighersellingprices.Thehighersellingpricestendtobeassociatedwithtransactionsinvolvingexecutivetransfersbrokerarrangedsecondaryfinancing.Theseresul

15、tsmayinturnindicatethatbrokersobtainhigherpriceswhendealingwithbuyerswhoarebothlessknowledgeableaboutlocalmarketconditionslesssensitivetoprice.YavasColwell(1994)suggestthatsellingpricemayalsobeatleasttosomedegreeafunctio

16、nofthetypeofbrokerlistingarrangementusedbytheseller.InastudyoftheresidentialmarketJud(1983)estimatesthedemfrealestatebrokerageservices.UsinghousingtransactionsdatafromthreeurbanareasinNthCarolinaJudfindsthatbrokersdonota

17、ffectthepricesofthehouseswhichtheysellalthoughtheydoappeartoinfluencethelevelofhousingconsumedbybuyers.InasubsequentstudyJudFrew(1986)usingdifferentdatafindthatbrokersdoobtainhigherpricesfthehomestheysell.Evidenceisalsop