Validation of an Information Asymmetry Scale in the Portuguese Real Estate Market

Detalhes bibliográficos
Autor(a) principal: Tavares, Fernando
Data de Publicação: 2022
Outros Autores: Santos, Eulália
Tipo de documento: Artigo
Idioma: eng
por
Título da fonte: Revista Brasileira de Gestão de Negócios (Online)
Texto Completo: https://rbgn.fecap.br/RBGN/article/view/4136
Resumo: Purpose – The motivation to study the information asymmetry in the real estate market comes from the fact that this market is far from being efficient and perfect, and buying a house is, for most families, the biggest deal of their lives. This paper aims to validate a scale that evaluates the information asymmetry in the Portuguese real estate market. Theoretical framework – During the sales negotiation process, estate agents exhibit the positive aspects of the house, as well as its amenities and qualities, and camouflage the least positive aspects of the deal. Finding both the positive and the negative aspects is crucial. Design/methodology/approach – To collect the sample, an instrument based on a questionnaire survey was used, which analyses the information asymmetry in the real estate market and the sociodemographic profile of estate agents in Portugal. The sample is composed of 350 commercial delegates from the three biggest real estate mediation companies in the Portuguese market. Findings – The results show that the scale for the information asymmetry in the Portuguese real estate market is composed of six factors, which present adequate levels of validity and reliability: negative externalities, possibilities of making a deal, housing quality, service areas, proximity to businesses, and positive externalities. Practical & social implications of research – This study is expected to contribute to improving the scientific knowledge on the real estate market, and to enhancing the information transmitted by estate agents to their future clients. Originality/value – In Portugal, there is no study with such depth about this topic of research. The validation of the information asymmetry scale in the Portuguese real estate market represents a breakthrough in the knowledge in this area. Keywords – information asymmetry, real estate market, housing demand, housing location, real estate externalities.
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spelling Validation of an Information Asymmetry Scale in the Portuguese Real Estate MarketValidation of an Information Asymmetry Scale in the Portuguese Real Estate MarketValidação de uma Escala de Assimetria de Informação no Mercado Imobiliário PortuguêsPurpose – The motivation to study the information asymmetry in the real estate market comes from the fact that this market is far from being efficient and perfect, and buying a house is, for most families, the biggest deal of their lives. This paper aims to validate a scale that evaluates the information asymmetry in the Portuguese real estate market. Theoretical framework – During the sales negotiation process, estate agents exhibit the positive aspects of the house, as well as its amenities and qualities, and camouflage the least positive aspects of the deal. Finding both the positive and the negative aspects is crucial. Design/methodology/approach – To collect the sample, an instrument based on a questionnaire survey was used, which analyses the information asymmetry in the real estate market and the sociodemographic profile of estate agents in Portugal. The sample is composed of 350 commercial delegates from the three biggest real estate mediation companies in the Portuguese market. Findings – The results show that the scale for the information asymmetry in the Portuguese real estate market is composed of six factors, which present adequate levels of validity and reliability: negative externalities, possibilities of making a deal, housing quality, service areas, proximity to businesses, and positive externalities. Practical & social implications of research – This study is expected to contribute to improving the scientific knowledge on the real estate market, and to enhancing the information transmitted by estate agents to their future clients. Originality/value – In Portugal, there is no study with such depth about this topic of research. The validation of the information asymmetry scale in the Portuguese real estate market represents a breakthrough in the knowledge in this area. Keywords – information asymmetry, real estate market, housing demand, housing location, real estate externalities.Purpose – The motivation to study the information asymmetry in the real estate market comes from the fact that this market is far from being efficient and perfect, and buying a house is, for most families, the biggest deal of their lives. This paper aims to validate a scale that evaluates the information asymmetry in the Portuguese real estate market. Theoretical framework – During the sales negotiation process, estate agents exhibit the positive aspects of the house, as well as its amenities and qualities, and camouflage the least positive aspects of the deal. Finding both the positive and the negative aspects is crucial. Design/methodology/approach – To collect the sample, an instrument based on a questionnaire survey was used, which analyses the information asymmetry in the real estate market and the sociodemographic profile of estate agents in Portugal. The sample is composed of 350 commercial delegates from the three biggest real estate mediation companies in the Portuguese market. Findings – The results show that the scale for the information asymmetry in the Portuguese real estate market is composed of six factors, which present adequate levels of validity and reliability: negative externalities, possibilities of making a deal, housing quality, service areas, proximity to businesses, and positive externalities. Practical & social implications of research – This study is expected to contribute to improving the scientific knowledge on the real estate market, and to enhancing the information transmitted by estate agents to their future clients. Originality/value – In Portugal, there is no study with such depth about this topic of research. The validation of the information asymmetry scale in the Portuguese real estate market represents a breakthrough in the knowledge in this area. Keywords – information asymmetry, real estate market, housing demand, housing location, real estate externalities.Objetivo: A motivação para o estudo da assimetria de informação no mercado imobiliário advém do fato de este mercado estar longe de ser eficiente e perfeito, sendo que a compra de habitação, para a maior parte das famílias, é o maior negócio de suas vidas. O presente artigo tem como objetivo validar uma escala para avaliar a assimetria de informação no mercado imobiliário português. Referencial teórico: No processo de negociação de venda, os agentes imobiliários exibem os aspectos positivos da habitação como as amenidades e a qualidade e fazem a camuflagem dos aspectos menos bons do negócio. Importa a descoberta de uns e de outros. Metodologia: Para a coleta da amostra foi utilizado um instrumento baseado em um questionário que analisa a assimetria da informação no mercado imobiliário e o perfil sociodemográfico dos agentes imobiliários em Portugal. A amostra é constituída por 350 delegados comerciais das três maiores empresas de mediação imobiliária do mercado imobiliário português. Resultados: Os resultados mostram que a escala de assimetria da informação no mercado imobiliário português é composta por seis fatores, os quais apresentam níveis de validade e confiabilidade adequados: externalidades negativas, possibilidades de negócio, qualidade da habitação, área de serviços, proximidade a negócios e externalidades positivas. Implicações práticas e sociais da pesquisa: Espera-se que este estudo venha a contribuir para o aumento do conhecimento científico na área do mercado imobiliário e para a melhoria da informação transmitida pelos agentes imobiliários a seus futuros clientes. Contribuições: Em Portugal não existe nenhum estudo com essa profundidade sobre o tema. A validação da escala de assimetria de informação no mercado imobiliário português é um avanço do conhecimento nessa área. Palavras-chave: Assimetria de informação, mercado imobiliário, procura na habitação, localização da habitação, externalidades imobiliárias.FECAP2022-01-13info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionAvaliado por paresapplication/pdfapplication/pdfhttps://rbgn.fecap.br/RBGN/article/view/413610.7819/rbgn.v23i4.4136Review of Business Management; Vol. 23 No. 4 (2021)RBGN Revista Brasileira de Gestão de Negócios; Vol. 23 Núm. 4 (2021)RBGN - Revista Brasileira de Gestão de Negócios; v. 23 n. 4 (2021)1983-08071806-4892reponame:Revista Brasileira de Gestão de Negócios (Online)instname:Fundação Escola de Comércio Álvares Penteado (FECAP)instacron:FECAPengporhttps://rbgn.fecap.br/RBGN/article/view/4136/1770https://rbgn.fecap.br/RBGN/article/view/4136/1771Tavares, FernandoSantos, Euláliainfo:eu-repo/semantics/openAccess2022-01-13T20:38:30Zoai:ojs.emnuvens.com.br:article/4136Revistahttp://rbgn.fecap.br/RBGN/indexhttps://rbgn.fecap.br/RBGN/oai||jmauricio@fecap.br1983-08071806-4892opendoar:2024-03-06T13:03:57.359686Revista Brasileira de Gestão de Negócios (Online) - Fundação Escola de Comércio Álvares Penteado (FECAP)true
dc.title.none.fl_str_mv Validation of an Information Asymmetry Scale in the Portuguese Real Estate Market
Validation of an Information Asymmetry Scale in the Portuguese Real Estate Market
Validação de uma Escala de Assimetria de Informação no Mercado Imobiliário Português
title Validation of an Information Asymmetry Scale in the Portuguese Real Estate Market
spellingShingle Validation of an Information Asymmetry Scale in the Portuguese Real Estate Market
Tavares, Fernando
title_short Validation of an Information Asymmetry Scale in the Portuguese Real Estate Market
title_full Validation of an Information Asymmetry Scale in the Portuguese Real Estate Market
title_fullStr Validation of an Information Asymmetry Scale in the Portuguese Real Estate Market
title_full_unstemmed Validation of an Information Asymmetry Scale in the Portuguese Real Estate Market
title_sort Validation of an Information Asymmetry Scale in the Portuguese Real Estate Market
author Tavares, Fernando
author_facet Tavares, Fernando
Santos, Eulália
author_role author
author2 Santos, Eulália
author2_role author
dc.contributor.author.fl_str_mv Tavares, Fernando
Santos, Eulália
description Purpose – The motivation to study the information asymmetry in the real estate market comes from the fact that this market is far from being efficient and perfect, and buying a house is, for most families, the biggest deal of their lives. This paper aims to validate a scale that evaluates the information asymmetry in the Portuguese real estate market. Theoretical framework – During the sales negotiation process, estate agents exhibit the positive aspects of the house, as well as its amenities and qualities, and camouflage the least positive aspects of the deal. Finding both the positive and the negative aspects is crucial. Design/methodology/approach – To collect the sample, an instrument based on a questionnaire survey was used, which analyses the information asymmetry in the real estate market and the sociodemographic profile of estate agents in Portugal. The sample is composed of 350 commercial delegates from the three biggest real estate mediation companies in the Portuguese market. Findings – The results show that the scale for the information asymmetry in the Portuguese real estate market is composed of six factors, which present adequate levels of validity and reliability: negative externalities, possibilities of making a deal, housing quality, service areas, proximity to businesses, and positive externalities. Practical & social implications of research – This study is expected to contribute to improving the scientific knowledge on the real estate market, and to enhancing the information transmitted by estate agents to their future clients. Originality/value – In Portugal, there is no study with such depth about this topic of research. The validation of the information asymmetry scale in the Portuguese real estate market represents a breakthrough in the knowledge in this area. Keywords – information asymmetry, real estate market, housing demand, housing location, real estate externalities.
publishDate 2022
dc.date.none.fl_str_mv 2022-01-13
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Avaliado por pares
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status_str publishedVersion
dc.identifier.uri.fl_str_mv https://rbgn.fecap.br/RBGN/article/view/4136
10.7819/rbgn.v23i4.4136
url https://rbgn.fecap.br/RBGN/article/view/4136
identifier_str_mv 10.7819/rbgn.v23i4.4136
dc.language.iso.fl_str_mv eng
por
language eng
por
dc.relation.none.fl_str_mv https://rbgn.fecap.br/RBGN/article/view/4136/1770
https://rbgn.fecap.br/RBGN/article/view/4136/1771
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eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
application/pdf
dc.publisher.none.fl_str_mv FECAP
publisher.none.fl_str_mv FECAP
dc.source.none.fl_str_mv Review of Business Management; Vol. 23 No. 4 (2021)
RBGN Revista Brasileira de Gestão de Negócios; Vol. 23 Núm. 4 (2021)
RBGN - Revista Brasileira de Gestão de Negócios; v. 23 n. 4 (2021)
1983-0807
1806-4892
reponame:Revista Brasileira de Gestão de Negócios (Online)
instname:Fundação Escola de Comércio Álvares Penteado (FECAP)
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instname_str Fundação Escola de Comércio Álvares Penteado (FECAP)
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reponame_str Revista Brasileira de Gestão de Negócios (Online)
collection Revista Brasileira de Gestão de Negócios (Online)
repository.name.fl_str_mv Revista Brasileira de Gestão de Negócios (Online) - Fundação Escola de Comércio Álvares Penteado (FECAP)
repository.mail.fl_str_mv ||jmauricio@fecap.br
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