Social networks and knowledge transfer in the Chiang Mai real estate business

Abstract

Chinese investors’ interest in Thailand’s real estate market has gradually increased with China's One Belt, One Road Initiative, positioning real estate agents as pivotal intermediaries who leverage intangible knowledge to facilitate transactions. Their role is to bridge information gaps between buyers and sellers, thereby enhancing market efficiency. Despite operating in a competitive landscape, real estate agents recognize the value of sharing knowledge among peers, ultimately fostering improved transaction outcomes and enhanced market performance. In this context, real estate agents play a significant role in exploring and developing the real estate market. A Social Network Analysis (SNA) is used in this study as a quantitative research tool to explore the knowledge transfer dynamics of real estate agents in Chiang Mai. By examining the network size, structure, density, centrality metrics, and network cliques, the underlying mechanisms that affect the collaborative dissemination of knowledge are revealed. Following this analysis, open-ended interviews based on the SECI model are conducted with experts and key actors to provide qualitative insights. Finally, a knowledge transfer framework is developed, highlighting the importance of diverse types of knowledge, adaptable transfer methods, and key facilitators such as trust, work experience, and social relationships in facilitating knowledge exchange. These insights are expected to deepen the understanding of the industry landscape and lay the foundation for further research in this field. The overall aim of the research is to identify the knowledge transfer processes used by real estate agents in Chiang Mai and to develop a knowledge transfer framework for the real estate business. The key findings include an understanding of the concept of knowledge management, the factors that affect knowledge transfer processes, and the development and validation of a knowledge transfer framework based on the key concepts and factors identified.