Real estate crowdfunding and risk management: a legal and managerial approach

Crowdfunding immobilier et gestion des risques: une approche juridique et managériale

Gurvan Branellec, Ji-Yong Lee () and Philippe Castelnau ()
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Gurvan Branellec: LEGO - Laboratoire d'Economie et de Gestion de l'Ouest - UBS - Université de Bretagne Sud - UBO - Université de Brest - IMT - Institut Mines-Télécom [Paris] - IBSHS - Institut Brestois des Sciences de l'Homme et de la Société - UBO - Université de Brest - UBL - Université Bretagne Loire - IMT Atlantique - IMT Atlantique - IMT - Institut Mines-Télécom [Paris], ISTEC - Institut supérieur des Sciences, Techniques et Economie Commerciales - ISTEC
Ji-Yong Lee: Audencia Business School
Philippe Castelnau: ETHOS - Ethique, Technologies, Humains, Organisations, Société - IMT-BS - Institut Mines-Télécom Business School - IMT - Institut Mines-Télécom [Paris], LITEM - Laboratoire en Innovation, Technologies, Economie et Management (EA 7363) - UEVE - Université d'Évry-Val-d'Essonne - Université Paris-Saclay - IMT-BS - Institut Mines-Télécom Business School - IMT - Institut Mines-Télécom [Paris], IMT-BS - DEFI - Département Data analytics, Économie et Finances - IMT - Institut Mines-Télécom [Paris] - IMT-BS - Institut Mines-Télécom Business School - IMT - Institut Mines-Télécom [Paris]

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Abstract: Crowdfunding platforms for real estate are expanding. They allow individuals to pool their money with other investors to finance real estate projects. However, it is important to remember that this type of investment carries significant risks—both endogenous, linked to the developer's financial capacity and the various aspects of the real estate project, and exogenous, stemming from external environmental factors. Therefore, it is crucial that all concerned stakeholders implement risk management mechanisms. The purpose of this article is to present these mechanisms and provide recommendations to mitigate risks. To this end, this study draws on both applicable regulations and the literature in law and management sciences. It is also based on interviews conducted with actors involved in real estate crowdfunding to analyze the risk mitigation mechanisms implemented by these platforms.

Keywords: Réglementation financière; Plateformes numériques; Gestion des risques; Crowdfunding immobilier; Asymétrie d'information (search for similar items in EconPapers)
Date: 2025
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Published in Management & sciences sociales, 2025, Performance durable et transformation des métiers de gestion, 41, pp.140-155. ⟨10.3917/mss.041.0142⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04761182

DOI: 10.3917/mss.041.0142

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