04-E-Commerce-in-the-Malaysian-Real-Estate-Agency-Industry1.doc - International Journal of Real Estate Studies Volume 11 Number 5 2017 E-COMMERCE IN THE

04-E-Commerce-in-the-Malaysian-Real-Estate-Agency-Industry1.doc

This preview shows page 1 - 2 out of 9 pages.

International Journal of Real Estate Studies, Volume 11 Number 5 2017 E-COMMERCE IN THE MALAYSIAN REAL ESTATE AGENCY INDUSTRY 1Nurul Najieha Syafiqa Masis, 2 Nurul Hana Adi Maimun, 3 Noorsidi Aizuddin Mat Noor, 4 Nurul Syakima Mohd Yusoff and 5 Mohd Shahril Abdul Rahman 1,4,5 Department of Real Estate, Faculty of Geoinformation and Real Estate, Universiti Teknologi Malaysia, 81310 Skudai, Johor, Malaysia 2,3 Centre for Real Estate Studies, Institute for Smart Infrastructure and Innovative Construction, Universiti Teknologi Malaysia, 81310 Skudai, Johor, Malaysia Email: 2 [email protected] Abstract Advances in Information and Communications Technology have revolutionised the ways of doing business in the real estate industry. However, scarce literature on real estate agency Internet adoption, particularly in Malaysia limits understanding on the extent of applications and implications of Internet on real estate agency business activities. Thus, this study aims to investigate how real estate agencies in Malaysia adopt Internet strategy, focusing on websites, in their business activities. Questionnaires were distributed to 21 registered real estate agencies in Johor Bahru to obtain information on the firm’s background, use and impact of websites on the firms’ business. Analysis results showed active participation and utilisation of Internet by Malaysian real estate agency firms. Websites were used as a platform to promote the company’s brand and property listings to the prospective buyers. There was a positive relationship between website and sale generation with number of website visitors being an important factor in sales generation. Consumers concern for information security remained a major barrier in the real estate business. The findings of this study enhances understanding on website use and impact in the real estate agencies business. Further study may explore other types of Internet strategy such as emails and social media. Keywords: Information and Communications Technology, Internet, E-Commerce, Online Presence, Website, Real Estate Agencies 1.0 INTRODUCTION In the world of globalization, the use of the Internet has spurred the creation of various media and advanced technologies such as smartphone, computer and tablet, along with Internet service supplied through the mobile network or Wi-Fi service. In a survey conducted by Nielsen (2012), 62% of citizen in Asia-Pacific countries purchase products through online. In Malaysia, the number of Internet users had grown significantly from 2.9 million in 2004 to 3.5 million in 2015 and to 5 million in 2016 (Internet World Stats, 2016). This implies positive acceptance among Malaysians on the use of the Internet as the main medium for shopping and socialising. The real estate business industry relies heavily on information. Thus, in order to gain information of a property for buying, selling or renting purposes, one must seek information from real estate professionals such as real estate agents.
Image of page 1
Image of page 2

You've reached the end of your free preview.

Want to read all 9 pages?

  • Winter '16
  • dr lizam
  • International Journal of Real Estate Studies

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture