英文摘要 |
Marketing timing and sales methods are strategies commonly used by housing developers to increase remuneration and lower risks. On the basis of forward contracts and futures price theories, the timing of sales can be divided into two categories: timing for selling new housing units and timing for selling presale housing units. Moreover, since the marketing methods involve consignment agencies or self-selling, the opportunity cost and comparative advantage of both methods are analyzed to determine which method to select. The results of this study reveal that developer companies that are over-the-counter entities listed on the market or have high total sales and expansive housing products are more likely to sell presale housing or contract consignment agencies. Under a prosperous economy, developers contract agencies to sell presale housing, thus increasing their profit through the competition among such agencies. However, in an economic recession, developers only sell existing houses to avoid risk, and expect the sales agencies to bear the risk. According to the study's results, it is recommended that developers establish marketing strategies by evaluating the financial planning and characteristics of residential projects during different economic periods. When the housing market is prosperous, developers can contract agencies to sell presale housing units and increase their profit; when the market is in recession, the developers can contract agencies to sell existing houses to spread the risks. |