IMPACT OF TECHNOLOGY ON THE REAL ESTATE INDUSTRY
TAN CHUN MENG
TAN CHUN MENG
Citations
Altmetric:
Alternative Title
Abstract
Information technology has a significant impact upon the real estate industry and it is changing the way real estate firms are organized, the methods many real estate professionals adopt in marketing properties and services, and the extent to which homebuyers/sellers can get directly involved in the heterogeneous real estate market. Given the Singapore's government desire to transform the island into an Intelligent Nation, where everyone can have access to the Internet everywhere, it is expected that there will be a greater reliance on the Internet in the real estate industry in the future.
The aim of this paper is to examine the extent of use in the Internet in the local real estate industry and the impact that the Internet has upon the local real estate industry.
This study contributes to the understanding of the use of the Internet for marketing real estate in the local context. This study shows that local real estate agents and the public are increasingly relying on the Internet to engage real estate transactions and that there are three main factors that will affect the customer satisfaction in using the Internet, which will ultimately affect the effectiveness of marketing real estate over the Internet. They are 1) ease of access, 2) cost of access and 3) information and quality of website. These three factors will lead to higher consumer satisfaction and hence, help to build customer loyalty, enhance favorable word of mouth and encourage repeat purchases.
Keywords
Internet, Information Technology, Real Estate Industry, Marketing Real Estate, Customer Satisfaction
Source Title
Publisher
Series/Report No.
Collections
Rights
Date
2007
DOI
Type
Thesis