From Numbers to Judgment: Specialist LLM Agents and Reinforcement Learning for European Listed Real Estate

We study whether the localized numerical operations and integrative judgments of financial analysis benefit from the same form of LLM specialization. Larix maps a 16-lens European listed-real-estate analysis framework to eight lens-aligned specialists; we compare a frontier LLM under monolithic versus specialist-decomposed prompting while holding the model, source evidence, task instructions, output schema, and scoring fixed. Across 19 firms spanning seven regulatory wrappers, decomposition improves the numerical-task aggregate by 15.8 percentage points but does not reliably improve, and can reduce, performance on judgment tasks, a pattern stable across four frozen-template dispatches; a ...

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