Jones and Benjamin (2013) examined whether ICT was a threat or a beneficial tool to real estate business. The study concluded that ICTs were disruptive to the real estate industry but submitted that there is a need for more research to determine how the technologies ’ impact is being framed by real estate agents. Cherif and Grant (2013) analysed the similarities and differences in e-business models that included Realestate.yahoo.com, Yahoo.com, Realtor.com among others. It examined how the e-business model differentiation affected company success. The study found that there were similarities and differences among e-business models. The study concluded that e-business models allowed companies to improve performance and customer satisfaction. Ladokun et al. (2013) investigated factors affecting the adoption of ICT by SMEs in Nigeria. The study, which made use of correlation coefficient and multiple regression 176 PM 36,2 Downloaded by UNIVERSITY OF TOLEDO LIBRARIES At 08:40 28 March 2018 (PT)
analysis, found that infrastructure, skill and training, investment cost, maintenance cost, government policies, among others, inhibit the adoption of ICT by SMEs in Nigeria. Oni (2013) looked at the lack of access to and effective use of ICT among real estate practitioners in Nigeria. The study found that although there was a great digital divide between practicing Estate Surveyors and Valuers and their counterparts in advanced countries, this was never a challenge to real estate practice in Nigeria. Estate Surveyors and Valuers were not lagging behind in the adoption of ICT. It concluded that the level of ICT application among Estate Surveyors and Valuers in Nigeria was appropriate to the local practice requirements. Kumar (2014) explored how digital marketing and e-commerce impact on real estate industry. The author argued that advances in computer technology, low-cost transmission of the transaction, as well as the growth of the WWW, had placed a lot of pressure on the real estate industry with respect to real estate transactions. The study anticipated the eroding power of real estate professionals as a result of the universality of internet facility. In a recent study, Zhang et al. (2016) examined the relationship between e-commerce and the demand for commercial estates in China. It was found that the slow growth rate of commercial property sales and the accelerating vacancy rate of commercial properties were closely related to the growth of e-commerce. It also found that different forms of commercial properties (supermarkets, departmental stores and shopping centres) were differently affected by the rise of e-commerce. The adoption of social media in real estate transactions was examined in Nigeria in the work of Babatunde et al. (2016). The study found, among other things, that all estate practitioners in the study made use of social media in their business transactions.
- Fall '13