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Can brokers rig the real estate market? An exploratory study of the commercial real estate sector

McAllister, P. (2020) Can brokers rig the real estate market? An exploratory study of the commercial real estate sector. Journal of Property Research, 37 (3). pp. 254-288. ISSN 1466-4453

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To link to this item DOI: 10.1080/09599916.2020.1794935

Abstract/Summary

This paper focuses on how brokerage practices in the markets for commercial real estate investment assets and residential development land in England generate different possibilities for and patterns of opportunistic behaviours. Drawing upon previous research and analysis, the paper examines the nature of the brokerage market in both sub-markets. An interactionist model of the determinants of ethical judgement in the context of the brokerage sector is created. Based upon an interview survey of brokers and principals, the findings of an exploratory empirical study are discussed. Whilst there are challenges in defining, observing and measuring opportunistic behaviours, it is concluded that a number of different unethical practices have become routine rather than exceptional in the markets for institutional-grade real estate assets and residential development land.

Item Type:Article
Refereed:Yes
Divisions:Henley Business School > Real Estate and Planning
ID Code:92060
Publisher:Taylor & Francis

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