The Coming Downsizing of Real Estate: Implications of Technology

The Internet has been used so widely in many aspects of life. Lately, Website promoting and marketing of real estate has become a new wave and a new strategy. Internet eases the process of searching and matching the criteria of the house and of a buyer, however the reliability of the internet in the consumer's eyes is a factor to be discussed. Internet buying and selling does have their pros and cons which makes the topic of buying and selling a controversial topic. The research is done on both buyer and seller respectively. Through the questionnaires answered by the buyers and sellers, perspectives and opinions are pooled and analysed. Through the research, it was found out that internet buying and selling process is done by many sellers and has already impacted the property market. The Internet has many advantages which overwhelms the disadvantages, thus it is chosen as a good tool for source of information by buyers and a good marketing tool for sellers. The prediction for future use of the internet is bright and positive through both buyers' and sellers views It can be deduced that the future use of internet can be greatly exploited.

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“…Further research on the internet marketing of real estate property will be carried out in this report. Baen and Guttery, (1997),…”

Section: Introductionmentioning

confidence: 99%

Internet Marketing of Residential Properties: Investigation on Effectiveness of Its Application

Alias

Z.T

2012

JSCP

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“…How has internet search affected the market structure of the real estate brokerage industry? Early speculation on the effects of the internet on real estate agents theorized that the internet would lead to disintermediation by making it easier for buyers and sellers to market their homes without the help of brokers, and that there would be an unbundling of services where listing would be untied from other services that brokers provided (Baen and Guttery, 1997). This was seen as desirable due to a long line of research documenting inefficiencies in the brokerage industry, centering on a lack of price competition due to fixed commission rates (Hsieh and Moretti, 2003;Han and Hong, 2011;Barwick and Pathak, 2015), and incentive misalignment between broker and seller (Levitt and Syverson, 2008;Hendel, Nevo, and Ortalo-Magné, 2009;Bernheim and Meer, 2013).…”

Section: Impact On Real Estate Agents and Brokersmentioning

confidence: 99%

Innovation and Entrepreneurship in Housing

Kung

2020

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In this chapter, I discuss innovation and entrepreneurship in residential real estate and construction (i.e. housing). Based on R&D spending and patent statistics, housing does not appear to be a very innovative sector. But in the last two decades, there has been a significant increase in the amount of investment going to real estate technology companies. I discuss the companies * Prepared for the NBER Growth Conference "Beyond 140 Characters: The Role of Innovation and Entrepreneurship in Economic Growth". I thank the conference organizers Mike Andrews, Ronnie Chatterjie, Josh Lerner, and Scott Stern, my discussant Jessie Handbury, as well as participants at the "Beyond 140 Characters" workshop for their helpful comments. All errors are my own.

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“…James et al (2000) categorised the two types of information gathered from the internet as; information related to property brokers or companies themselves, and information regarding the specific properties available for purchase or lease. Baen and Guttery (1997) and Bond et al (2000) have shown that the quality and quantity of information available online is steadily increasing, much of it due to the advances of technology that make it easier to gather and upload data. Brokers have affordable means of promoting themselves and their listings.…”

Section: The Shift In Real Estate Marketingmentioning

confidence: 99%

Towards Improved Performance in Marketing: The Use of Property-based websites by Estate Surveyors and Valuers in Lagos, Nigeria

Bamidele

Adenusi

Osunsanmi³

et al. 2018

JARER

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The increase in globalisation has changed marketing strategies available to professionals within the built environment. This study investigated the marketing methods most used in Lagos' metropolis. It assessed the extent to which estate surveyors and valuers in Nigeria have adopted property-based websites for the marketing of their real estate services. A random sampling method was used to obtain data from 82 estate surveyors and valuers within Lagos' metropolis. The data were analysed with SPSS V24 (statistical software), using Friedman's Test and One-Way Analysis of Variance (ANOVA). The study concluded that conventional/traditional methods of marketing dominate the marketing activities of estate surveyors and valuers, weakening agency practice in Nigeria in relation to the current global context.

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The Coming Downsizing of Real Estate: Implications of Technology

Cited by 51 publications

References 4 publications

Internet Marketing of Residential Properties: Investigation on Effectiveness of Its Application

Internet Marketing of Residential Properties: Investigation on Effectiveness of Its Application

Innovation and Entrepreneurship in Housing

Towards Improved Performance in Marketing: The Use of Property-based websites by Estate Surveyors and Valuers in Lagos, Nigeria

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