Quantitative study of real estate agent impact on selling price
At a glance
- Co-project leader : Prof. Dr. Thomas Richter, Dr. Ruben Seiberlich
- Project budget : CHF 14'000
- Project status : ongoing
- Funding partner : Innosuisse (Innovationsscheck / Projekt Nr. 70292.1 INNO-SBM)
- Contact person : Thomas Richter
Description
Bestag's idea is to optimize the transaction process in private real estate markets by 1) using a data analytics-based approach to select the most appropriate real estate agent, 2) accurately estimating the expected selling price based on several valuation models, and 3) revising the agent's incentive scheme to better align with the seller's interests. This service aims not only to enhance the seller's gains but also to introduce a more efficient transaction process in the real estate market. The project researches how proposed selling prices vary across different real estate agents and investigates how revised contract incentives can improve selling prices, thereby validating the business model.