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The determinants of business performance of estate agency in England and Wales

The determinants of business performance of estate agency in England and Wales

Ke, Qiulin, Isaac, David and Dalton, Peter (2008) The determinants of business performance of estate agency in England and Wales. Property Management, 26 (4). pp. 255-272. ISSN 0263-7472 (doi:https://doi.org/10.1108/02637470810894894)

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Abstract

Purpose: This paper seeks to investigate the factors influencing the business performance of estate agency in England and Wales.
Design/methodology/approach: The paper investigates the effect of housing market, company size and pricing policy on business performance in the estate agency sector in England and Wales. The analysis uses the survey data of Woolwich Cost of Moving Survey (a survey of transactions costs sponsored by the Woolwich/Barclays Bank) from 2003 to 2005 to test the hypothesis that the business performance of estate agency is affected by industry characteristics and firm factors.
Findings: The empirical analysis indicates that the business performance of estate agency is subject to market environment volatility such as market uncertainty, housing market liquidity and house price changes. The firm factors such as firm size and the level of agency fee have no explanatory power in explaining business performance. The level of agency fee is positively associated with firm size, market environment and liquidity.
Research limitations/implications: The research is limited to the data received and is based on a research project on transaction costs designed prior to this analysis.
Originality/value: There is little other research that investigates the factors determining the business performance of estate agency, using consecutive data of three years across England and Wales. The findings are useful for practitioners and/or managers to allocate resources and adjust their business strategy to enhance business performance in the estate agency sector.

Item Type: Article
Uncontrolled Keywords: real estate, business performance, England, Wales
Subjects: H Social Sciences > HC Economic History and Conditions
H Social Sciences > H Social Sciences (General)
H Social Sciences > HD Industries. Land use. Labor
Pre-2014 Departments: School of Architecture, Design & Construction
School of Architecture, Design & Construction > Sustainable Environments Research Group
Related URLs:
Last Modified: 14 Oct 2016 09:07
Selected for GREAT 2016: None
Selected for GREAT 2017: None
Selected for GREAT 2018: None
Selected for GREAT 2019: None
URI: http://gala.gre.ac.uk/id/eprint/2808

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