National Association of Estate Agents National Association of Estate Agents The National Association of Estate Agents (NAEA) is a membership organisation for estate agents "(called real estate brokers in the US)". It is based in and covers the UK. It was founded in 1962 by estate agent Raymond Andrews. It is the UK's leading professional body for estate agents. Its members practice across all aspects of property both in the UK and overseas, including residential and commercial sales and letting, property management, business transfer, auctioneering and land. The NAEA has a licensing scheme that offers consumer protection The NAEA's aims are that it shall: The
Representative agent group of heterogeneous agents to a representative agent is not just an analytical convenience, but it is ""both unjustified and leads to conclusions which are usually misleading and often wrong."" In his view, the representative agent ""deserves a decent burial, as an approach to economic analysis that is not only primitive, but fundamentally erroneous."" A possible alternative to the representative agent approach to economics could be agent-based simulation models which are capable of dealing with many heterogeneous agents. Another alternative is to construct dynamic stochastic general equilibrium (DSGE) models with heterogeneous agents, which is difficult, but is becoming more common