This study surveys commercial real estate agents on their use of trade area (location) analysis in the marketing (leasing and selling) of retail space. Throughout the study, the broad definition of the broker as an information agent on all facets of real estate is narrowed in order to isolate the purpose, type and scope of the trade area (location) information he processes. As such, the primary objective of the study is to determine the extent to which realtors practice trade area (location) analysis in their marketing of retail space.
Real estate literature emphasizes two points that together serve as the basis for the study: (1) brokers should strive to become advisors to their clients and customers and (2) the importance of trade area (location) data for identifying a retail property's most beneficial use(s) and determining its value. Yet, even though these two points are well recognized, some question remains about the extent of trade area (location) information realtors are processing. For example, one large corporate real estate buyer has remarked that out of the many investment proposals he received from brokers, few contain sufficient market data to allow prudent investment decisionmaking. In addition, real estate practitioner literature, while noting the importance of trade area, offers few if any procedures that could be followed to develop a trade area analysis. Based on these observations, this study attempts to gain an insight into the realtors practices of trade area analysis.
To accomplish this objective, trade area literature was reviewed to identify trade area characteristics, techniques of analysis, and data sources. From this information a set of questions was developed and used to survey realtors on their practices of trade area analysis. Data from the survey show: (1) the type of analyses developed, (2) the content of the analyses, and (3) the purpose of the analyses.
Interpretation of the survey data indicates that there is a discrepancy between the trade area analyses that are currently being developed and the "state of the art" as evidenced by trade area literature. Recommendations are that real estate practitioner literature could devote more attention to including procedures that realtors might follow to develop a trade area analysis and that realtors could increase their use of real estate literature. / Business, Sauder School of / Graduate
| Identifer | oai:union.ndltd.org:UBC/oai:circle.library.ubc.ca:2429/21378 |
| Date | January 1979 |
| Creators | Beauregard, Andre Vincent |
| Source Sets | University of British Columbia |
| Language | English |
| Detected Language | English |
| Type | Text, Thesis/Dissertation |
| Rights | For non-commercial purposes only, such as research, private study and education. Additional conditions apply, see Terms of Use https://open.library.ubc.ca/terms_of_use. |
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