Research On Information Asymmetry Theory In Real Estate Market

From the 1990s, the real estate industry in China has well developed and become one of the quite important branches in the national economy, which is featured in powerful increase, large scale, considerable share and outstanding function. At the same time, many problems emerged in the course of its development. In the respect of the information market, on the one hand, in order to maximize short-term and partial interests, some real estate enterprises designedly keep some important information of their commodities dark, which hurts consumers' interests and leads them to make converse choices; the worse thing is that they even conduct some "moral risk" activities in their sales, the substandard products expels the good products, which produces vicious circle. On the other hand, most of the consumers are not professional enough to know the quality of the property fully. Consequently all of these factors have led to the serious information asymmetry problems in this market.Based on the general condition and development prospect of the real estate market, this paper analyzes the type, cause of formation, main body, object and environment of the information asymmetry to the real estate. Combined with my major and working experiences in a property agent company, I think the development of the Internet plays a big role in strengthening sincerity and improving the government's management service efficiency, it is changing the state of the information asymmetry of real estate market step by step.The paper is divided into five parts.The first part tells the overview of the real estate market, which mainly discusses the basic concepts, the process of development and the problems existing in China property market.The second part is about the information economics analysis of the real estate market. Through the introduction of the information economics theory, this part analyzes the essentials of the information asymmetry theory.The third part expounds the study on information asymmetry in property market, which summarizes the main type, cause and aftermath of the information asymmetryproblems in China real estate market.The forth part concerns the function of Internet on perfecting the real estate market. It indicates its effect on real estate industry, and it will make the sales transparent, help build the credence appraisal mechanism.At last, the paper ends in the case that property trade on record system on Internet in ShangHai, which embodies the large contribution of Internet, and finishes the exploration of information problems in the property market of our country.