A Study on the Risk Management of public auction – Focusing on the AHP technique -

Abstract

Creating profits through real estate public auction is being paid attention to in the recent domestic circumstances of anticipation for continual rise of interest rate and stagnation due to the tight Chinese market caused by THAAD(Terminal High Altitude Area Defense missile). However, it is true that scholarly research on the risk management of real estate public auction. On the basis of this awareness, this study aims to the importance of factors for risk management of real estate public auction through experts' questionnaire to and to suggest implications on the efficient risk management of real estate public auction. AHP, the multiple decision-making technique through experts' questionnaire, was made use of as the method of analysis. As the result of the analysis, the importance of risk management at before public auction bid stage showed the highest among the large classification items, then at successful bid stage and at bid stage sequentially. Looking into the importance of detailed items in the large classification, risk management of the risk of abernahmeprinzip not being known with standards of cancellation was confirmed to be the important factor at the before public auction bid stage. It was shown in the result of the research that experts with much practical working experience should conduct title examination in efficiently managing the risk of real estate public auction at the before public auction bid stage. This means in the circumstances that the paradigm in the public auction market of real estate in Korea is changing sharply, considering the reality that the roles of public auction experts are becoming more important gradually in Korea, it can be well known that the roles of public auction experts are very important. At next public auction bis stage, the most important factor was shown to be the risk management of uncertainty of information and this result means that in public auction the release of detailed and transparent information is not conducted compared with auction and even the released information is opened just a little. Because wrong judgement will be made to targets for public auction unless participants in public auction collect other information, by minimizing this, the ways to reduce cost and maximize revenue is judged to be important. Finally, the importance of risk management of the rights acquired additionally except for successful bid amount was the highest in the risk management aspect at the successful bid stage of public auction and the next, risk of the differences involved on record title was drawn as an important factor.