The Impact of the Agency Role-Based Model on Decision Making in Real Estate Development Projects

Abstract

The professionalism of real estate development makes the decision-making environment of development relatively complicated. Building the decision model can help investors make reasonable decisions in real estate development. This paper analyses the construction project of Berlin Brandenburg Airport by using the agency role-based model of real estate development proposed by Adams & Tiesdell. The research found that the existing research is looking for different objective factors from real estate development cases, without analysing the influence of actors involved in the development process on the entire real estate development decision. In the process of real estate development, not only the changes in the market environment should be considered, but also the influence of different roles on decision-making in the development process. The conclusion of this paper provides a useful supplement to the real estate development model and proposes specific improvement measures.