A Virtual Property Agency: Electronic Market with Support of Negotiation

Hu Jiuru, Jerome Yen, and Alan Chung

To have an efficient and reliable infrastructure is crucial to any electronic market. Most existing electronic markets only provide limited services, such as, communication supports between buyers and sellers, databases to increase the selections, and market information to help estimation of reasonable transaction prices. In this paper, we propose a new electronic market, an Internet-based clearinghouse with a set of agents to support coordination, negotiation, and settlement with both numerical data and textual information. We have developed a Virtual Property Agent for highly uncertain and dynamic markets. Such approach is extremely helpful to markets that have complicated negotiation process or require more expertise, such as, real estate or used car.

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