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Key takeaways. In a dual agency situation, the same real estate agent represents both the buyer and the seller of a home. This arrangement can be risky for buyers, since agents are paid based on ...
By Matt Carter and Andrea V. Brambila Republished with permission from Inman News. Homebuyers sometimes gripe that their real estate agent seems more interested in closing a sale and collecting a ...
I.e, there is no Pareto-improving trade among the agents, but there may be Pareto-improving traders between an agent and the market-maker. Moreover, the A-CEEI mechanism is strategyproof "in the large": when there are many agents, each agent has only a small influence on the price, so the agents act as price takers. Then, it is optimal for each ...
If all agents have the same lexicographic preferences, then general equilibrium cannot exist because agents will not sell to each other [clarification needed] (as long as price of the less preferred is more than zero). But if the price of the less wanted is zero, then all agents want an infinite amount of the good.
The term "agent" is not to be confused with salesperson or broker. An agent is simply a licensee that has entered into an agency relationship with a client. A broker can also be an agent for a client. It is commonly the firm that has the actual legal relationship with the client through one of their sales staff, be they salespersons or brokers.
Kilgore estimated that the number of agents could decrease as much as 50% as a result of the NAR settlement, with the remaining agents likely to be "more professional, more efficient agents."
The multiple principal problem, also known as the common agency problem, the multiple accountabilities problem, or the problem of serving two masters, is an extension of the principal-agent problem that explains problems that can occur when one person or entity acts on behalf of multiple other persons or entities. [1]
In economics, an agent is an actor (more specifically, a decision maker) in a model of some aspect of the economy. Typically, every agent makes decisions by solving a well- or ill-defined optimization or choice problem. For example, buyers and sellers are two common types of agents in partial equilibrium models of a single market.