IMPACT OF DIGITAL MARKETING AND E-COMMERCE ON THE
REAL ESTATE INDUSTRY
*
S. SANTHINI
,
Assistant Professor, PG and Research Department of Commerce with CA,
Hindusthan College of Arts and Science College, Coimbatore. TN INDIA.
**
T. DEEPA
,
Assistant Professor, PG and Research Department of Commerce with CA,
Hindusthan
College of Arts and Science College, Coimbatore. TN INDIA.
Abstract
In this paper, we would explore how e-commerce, the World Wide Web in particular, is
distressing the real estate industry. Real estate is a promising set up to study e-commerce
because it is an information-intensive and information-driven industry. The transactions are
based on high value and asset-specificity with many market-intermediaries like agents and
brokers who connect buyers and sellers rather than buying or selling themselves and
experiencing an on-going IT related changes. We analyze the real estate transaction to
suggest where IT might change the process of selling or buying a house and discuss several
current ventures in this area. This analysis suggests that thee-commerce is eroding the long-
enjoyed information monopoly of real-estate agents and these applications have the potential
to dramatically change the current practices in the real-estate industry, including the
elimination of agents.
Keywords:
Property Hunt, Real Estate, Electronic Commerce, World Wide Web, Electronic
Markets, E-Commerce
Introduction
In this project, we explore how e-commerce, is affecting the real estate industry. Real estate is
a promising setup for studying e-commerce because it is an information-intensive and
information driven industry; transaction-based, with high worth and asset-specificity; with
many market-intermediaries (brokers and agents who connect sellers and buyers rather than
buying or selling themselves); and experiencing an on-going information technology (IT)
related changes. We analyze a real estate transaction to suggest where IT may change the
process of buying and selling a house. This analysis suggests that e-commerce is eating-away
the long-enjoyed information monopoly of real-estate agents and e-commerce applications
have the potential to rigorously change current rehearses in the real-estate industry, including
the disintegration of agents. However, these agents and real-estate firms are market
intermediaries connecting sellers and buyers but rarely buying or selling themselves. If the
value added by the agents is only a source of information, their position is weak if sellers and
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