7. A client has contracted B & B Properties, a real estate firm to help him sell three properties A, B, and C that he owns in Banana Island. The client has agreed to pay B & B Properties a 5% commission on each sale. The agent has specified the following conditions: B & B Properties must sell property A first, and this must be done within 60 days. If and when A is sold, B & B Properties receives a 5% commission on the sale, B & B Properties can then decide to back out on a further sale or go ahead and try to sell the remaining two properties B and C within 60 days. If they do not succeed in selling the property within 60 days, the contract is terminated at this stage. The following table summarises the prices, selling Costs (incurred by B & B Properties whenever a sale is made) and the probabilities of making sales: Prices of property Selling Cost 400 12,000 25,000 225 50,000 450 Draw an appropriate decision tree representing the problem for B & B Properties. What is the B & B Properties' best strategy under the EMV approach? Property A B C Probability 0.7 0.6 0.5​

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