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

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  • Pat McAllister

Abstract

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.

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  • Pat McAllister, 2020. "Can brokers rig the real estate market? An exploratory study of the commercial real estate sector," Journal of Property Research, Taylor & Francis Journals, vol. 37(3), pages 254-288, July.
    • Handle: RePEc:taf:jpropr:v:37:y:2020:i:3:p:254-288
    DOI: 10.1080/09599916.2020.1794935
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    Cited by:

    1. Arora Swapan Deep, 2023. "Contemporary challenges of consumption: a Kafkaesque and critical marketing perspective," International Journal of Contemporary Management, Sciendo, vol. 59(4), pages 58-73, December.

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