Oxford: Bargaining software system to assess the state housing market

Licensing opportunity

Researchers from the Oxford Department of Economics are seeking to license their proprietary bargaining calculator – a software tool that uses algorithms to identify optimal strategies for buying or selling an asset such as a house. This technology, say the researchers, will allow buyers or sellers to foresee realistic agreement prices and stall times and contribute to balancing the risk of rival buyers coming against the gains from stalling, says Isis Innovation, Oxford University’s tech transfer organisation.

Most home buyers are under immense pressure when having to bargain for the purchase of a property. While some seek professional advice, this is costly and not a viable option for most.Using variables such as key market and bargainer characteristics, the calculator provides users with the optimal length of time to stall, the highest price a buyer and/or the lowest price a seller should offer or accept, respectively, for any given number of days into the future. The calculator can, in response to a set of simple questions, provide buyers and sellers within the residential property market with the best bargaining strategy.