A learning-oriented decision-making process for real estate brokerage service evaluation

Fernando A. F. Ferreira, Ronald W. Spahr, Mark A. Sunderman, Audrius Banaitis and Joao Ferreira
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Fernando A. F. Ferreira: University Institute of Lisbon
Ronald W. Spahr: University of Memphis
Mark A. Sunderman: University of Memphis
Audrius Banaitis: Vilnius Gediminas Technical University

Service Business, 2017, vol. 11, issue 3, No 1, 453-474

Abstract: Abstract Real estate brokers or realtors are expected to possess superior knowledge of their local markets and typically require commissions in return for their services in real estate sales. To justify these commissions, it is important to evaluate brokerage service performance. We develop a learning-oriented decision-making process for evaluating real estate brokerage services, which concentrates on understanding the nature, the role, and the interaction of the evaluation aspects of real estate brokerage service quality by integrating cognitive maps and the Decision EXpert approach. Results suggest that this framework permits new rudiments to be considered in the realtor decision-making and sales process, facilitating transparency, and understanding of realtor functions that may lead to recommendations to improve the performance and quality of these functions. Avenues for future research are also presented.

Keywords: Brokerage service; Real estate; Measurement and improvement; Cognitive mapping; Decision EXpert (DEX) (search for similar items in EconPapers)
Date: 2017
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DOI: 10.1007/s11628-016-0315-4

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