IMPACT OF DIGITAL MARKETING AND E-COMMERCE ON THEREAL 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,HindusthanCollege of Arts and Science College, Coimbatore. TN INDIA.AbstractIn this paper, we would explore how e-commerce, the World Wide Web in particular, isdistressing the real estate industry. Real estate is a promising set up to study e-commercebecause it is an information-intensive and information-driven industry. The transactions arebased on high value and asset-specificity with many market-intermediaries like agents andbrokers who connect buyers and sellers rather than buying or selling themselves andexperiencing an on-going IT related changes. We analyze the real estate transaction tosuggest where IT might change the process of selling or buying a house and discuss severalcurrent 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 potentialto dramatically change the current practices in the real-estate industry, including theelimination of agents.Keywords: Property Hunt, Real Estate, Electronic Commerce, World Wide Web, ElectronicMarkets, E-CommerceIntroductionIn this project, we explore how e-commerce, is affecting the real estate industry. Real estate isa promising setup for studying e-commerce because it is an information-intensive andinformation driven industry; transaction-based, with high worth and asset-specificity; withmany market-intermediaries (brokers and agents who connect sellers and buyers rather thanbuying 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 theprocess of buying and selling a house. This analysis suggests that e-commerce is eating-awaythe long-enjoyed information monopoly of real-estate agents and e-commerce applicationshave the potential to rigorously change current rehearses in the real-estate industry, includingthe disintegration of agents. However, these agents and real-estate firms are marketintermediaries connecting sellers and buyers but rarely buying or selling themselves. If thevalue added by the agents is only a source of information, their position is weak if sellers andINTERNATIONAL CONFERENCE PROCEEDING (CRYSTAL 2016)1P a g e
buyers develop new ways to find one another. The way IT can be used to disintegrate thetraditional broker and agent is of main interest here, as it possibly impend the traditionalrelationship between agents and home owner.