Usurping Double-Ending Fraud in Real Estate Transactions via Blockchain Technology

2021 ◽  
Vol 32 (1) ◽  
pp. 27-48
Author(s):  
Atefeh Mashatan ◽  
Victoria Lemieux ◽  
Seung Hwan (Mark) Lee ◽  
Przemysław Szufel ◽  
Zachary Roberts
Keyword(s):  
Real Estate ◽  
Optimal Allocation ◽  
Real Estate Market ◽  
Real Property ◽  
Agent Based ◽  
Market Participants ◽  
Blockchain Technology ◽  
Solution Design ◽  
Audit Trails ◽  
Modelling Simulation

This paper discusses the problem of double-ending fraud in real estate transactions – a type of transactional fraud wherein agents handling real estate transactions unfairly benefit (e.g., by simultaneously representing both the buy and sell side of a real estate transaction in a manner that unfairly boosts the commission they receive, or colluding to increase their commission in a real estate transaction at the expense of the buyer and/or seller of the real property). The paper proposes a unique blockchain solution design that leverages blockchain's properties of transparency and ability to create tamper-resistant audit trails to reduce opportunities for double-ending fraud and increase real estate market participants' trust in the handling of their transactions. The paper discusses the implementation of a prototype of the solution based on hyperledger fabric and sails; it presents the results of an agent-based modelling simulation validating that the inherent transparency of the proposed design offers optimal allocation for both sellers and buyers.

scholarly journals The Effectiveness of Real Estate Market Versus Efficiency of Its Participants

2012 ◽  
Vol 19 (1) ◽  
pp. 95-110 ◽  
Author(s):  
Małgorzata Renigier-Biłozor ◽  
Radosław Wiśniewski
Keyword(s):  
Real Estate ◽  
Rational Expectations ◽  
Rough Set Theory ◽  
Weak Form ◽  
Real Estate Market ◽  
Strong Form ◽  
The Real ◽  
The Real Estate ◽  
Market Participants ◽  
The Real Estate Market

Real estate markets (REMs) may be classified as strong-form efficient, semi-strong-form efficient or weak-form efficient. Efficiency measures the level of development or goal attainment in a complex social and economic system, such as the real estate market. The efficiency of the real estate market is the individual participant's ability to achieve the set goals. The number of goals is equivalent to the number of participants. Every market participant has a set of specific efficiency benchmarks which can be identified and described. In line with the theory of rational expectations, every participant should make decisions in a rational manner by relying on all available information to make the optimal forecast. The effectiveness of the real estate market is a function of the efficiency of individual market participants. This paper attempts to prove the following hypothesis: the effectiveness of a real estate market may be identified by analysing the effectiveness of its participants. The authors also discuss methods based on the rough set theory which can influence the efficiency and efficacy of market participants, and consequently, the effectiveness of the real estate market and its participants.

scholarly journals The Dynamics of Real Estate Field of Value

2015 ◽  
Vol 22 (4) ◽  
pp. 105-113
Author(s):  
Oksana Kuryj-Wysocka ◽  
Jan Kuryj ◽  
Radoslaw Wisniewski
Keyword(s):  
Real Estate ◽  
Property Values ◽  
Real Estate Market ◽  
Market Participants ◽  
Individual Determinants ◽  
Dynamic Traits ◽  
Objective Research

Abstract Property is worth only as much as market participants are willing to pay for it - that is as much as the potential of the property. Determining the potential of real estate is an extremely difficult task, because certain properties can be viewed in different ways. A person’s attitude towards a given real estate finds reflection in the value of the property. Accordingly, the value of a property appears only when there is a relation of value, such as when the property catches the buyer’s attention. This article raises important issues which determine the value of real estate. It reveals the value of property as a multidimensional category (spatial, economic etc.). The concept of value is characterized by peculiar dynamics; therefore, the value of a property is also characterized by dynamic traits. In order to confirm the above thesis it is essential to isolate the most important factors that create the “field of value” and to examine how individual determinants influence the potential of the property. The purpose of this study is to examine whether changes in the local real estate market influence the dynamics of property values. In order to achieve this objective, research was carried out on a local real estate market. As a result of the research, indicators characterizing the dynamics of value were determined.

Analysis of Land Markets Intended for Single-Family Housing for Different Suburban Areas

2017 ◽  
Author(s):  
Anna Przewiezlikowska
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Single Family ◽  
Real Property ◽  
Real Estate Markets ◽  
The Real ◽  
The Real Estate ◽  
Suburban Areas ◽  
Family Housing ◽  
Comparative Description

The aim of this article is the comparative description of two real estate markets based on the procedures for real property valuation. The study concerned only the land, which was undeveloped, intended for single-family housing in two communes located in the district of Krakow and three communes from the district of Kielce. The analyses were performed at four-year intervals and the comparison of the real estate markets was conducted. The first part contains the description of the areas covered by the research studies and the analyses of the real estate market and market trends. The next stage includes the descriptions of the two test real properties which are the subject of valuation and the fundamental comparative criterion. Then, the algorithms and methods of the calculations are presented. The practical part contains the description of individual markets, the implementation of the analyses and calculations, the comparison of the study areas and conclusions. The comparative analysis of the performed simulations of valuations was carried out first and then followed by a collective summary of descriptive statistics of all the real estate bases and the comparative description of the structures of the databases showing meaningful differences between Krakow and Kielce region.

Real Estate Risk in Russia and Financial Innovations

2016 ◽  
Vol 2016 (6) ◽  
pp. 57-70
Author(s):  
Andrey Matyukhin
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Market Prices ◽  
Economic Agents ◽  
Risk Hedging ◽  
Market Participants ◽  
Financial Innovations ◽  
Negative Effect ◽  
Real Estate Prices ◽  
Market Construction

The article underlines the latest trends in real estate prices in Russia, which helps to record the increasing negative effect of real estate risks on various groups of economic agents. The consequences of negative dynamics in mean real estate market prices could be relaxed by real estate derivatives market construction, which has been unclaimed yet by the market participants due to favorable economic conditions. The article provides the ground for the necessity of real estate risk hedging for various groups of economic agents, viability of real estate derivatives utilization for the purposes of hedging and their application to further financial innovations.

Main Tendencies of Innovative Advertizing Technologies Development in Real Estate Sphere

2015 ◽  
Vol 4 (1) ◽  
pp. 61-66
Author(s):  
Пономарев ◽  
Vladimir Ponomarev
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Ambient Media ◽  
Traditional Methods ◽  
Market Participants ◽  
Innovative Methods ◽  
Investment Companies ◽  
Internet Portals ◽  
Provided Examples

In this paper are considered such innovative methods for real estate advertizing as non-conventional types of outdoor advertizing ("ambient media") and advertizing on devoted to real estate special Internet portals. Two categories of real estate market’s participating organizations forming the offer are considered – construction and investment companies, and real estate agencies. Distinctions between them in advertizing budget volume and, therefore, in a choice of concrete forms of advertizing when planning the advertizing campaigns are specified. A conclusion about the increasing role of innovative methods for advertizing as less expensive in comparison with the main traditional methods is drawn. A review of largest Internet portals related to real estate, with indication of main features for each of them is provided. Examples of non-conventional forms for outdoor advertizing in the domestic real estate market are pointed out. The main tendencies related to the attitude of real estate market participants to innovative methods of advertizing are revealed and these tendencies’ possible reasons are specified.

scholarly journals Calculation and Spatial Distribution of Capitalization Rates in the Selected Segment of Reality Properties

2016 ◽  
Vol 4 (2) ◽  
pp. 37-50
Author(s):  
Eva Ardielli ◽  
Jiří Ardielli ◽  
David Slavata
Keyword(s):  
Spatial Distribution ◽  
Real Estate ◽  
Real Estate Market ◽  
Real Property ◽  
The Real ◽  
The Real Estate ◽  
Property Valuation ◽  
The Real Estate Market ◽  
Capitalization Rate ◽  
Apartment Ownership

Abstract The process of real property valuation by usage of income approaches is significantly affected by capitalization rate. This article deals with problematic of the capitalization rate determination in the real estate segment of apartments in the Ostrava city. It primarily aims to calculate the level of gross capitalization rate according to different urban localities of Ostrava, for various sizes of apartments, as well depending on the type of apartment ownership. The analysis of the real estate market is an important part of the research. It is focused on the offer of apartments from the perspective of market apartments for sale and also of market apartments for rent. The analyzed and calculated spatial values distributions are consequently processed into cartographic outputs.

scholarly journals Mortgage and mortgage lending as a tool for financial recovery of the modern Russian economy

2021 ◽  
Vol 273 ◽  
pp. 08109
Author(s):  
Svetlana Rybak
Keyword(s):  
Real Estate ◽  
Practical Interest ◽  
Legal Regulation ◽  
Real Estate Market ◽  
Mortgage Lending ◽  
The Real Estate ◽  
Market Participants ◽  
Russian Economy ◽  
The Real Estate Market ◽  
Financial Recovery

The article is devoted to the institutional analysis of the problem of improving the legal regulation of mortgage relations in Russia in modern conditions in the presence of a rather limited financial capacity of the population in modern conditions to purchase real estate or housing. In this regard, the mortgage becomes the most necessary tool to ensure the socio-economic development of society, its stable and sustainable development. The formation of the property base currently generates a corresponding demand in the real estate market, and develops a corresponding interest among consumers in mortgage lending. At the same time, the emerging financial mechanism of mortgages also ensures the formation of the solvency of not only the population, but also other market participants, so that this market segment becomes not only in demand, but also successfully developed. Considering this problem, the author sought to update the scientific, theoretical and practical interest in this topic and to reveal the problems that hinder the development of mortgages as an important factor in the financial recovery of the modern market economy.

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