WILL THE INTERNET REPLACE THE ROLE OF HOUSING AGENTS IN SINGAPORE?

Abstract

The real estate business is essentially a people business dominated by agents. With the Internet exploding on to the real estate industry, it is worth the effort to find out if this interactive medium will pose a threat to the position that housing agents have been commanding. The study makes use of a survey to gain first-hand knowledge ofthe situation in our local real estate market. The results indicate that while Internet technology is still not prevalent in the industry, there have been attempts made by local firms to embrace this technology. However, these companies also contend that Singaporeans in general are not yet ready to commit to real estate transactions over the Internet. They do, nevertheless, see a future of the industry on the Internet in time to come. Meanwhile, they perceive the necessity of preparing their housing agents for the onslaught of this explosive medium. Therefore, it can be concluded that the Internet will not replace the role of housing agents in Singapore. On the contrary, agents can take advantage ofthe Internet and create for themselves a wider clientele base. To do that however, requires a continual learning process that can only pay off in favour of the agents themselves.