Connecting potential tenants and landlords via the internet: development and pilot testing of a transaction system for a commercial real estate enterprise
by Boris Stavrovski
International Journal of Internet and Enterprise Management (IJIEM), Vol. 3, No. 4, 2005

Abstract: A new transaction system for implementing complex business transactions via the internet has been created. The system includes components responsible for search, market analysis, negotiation, and legal closing, and its implementation. The system is able to quantitatively evaluate preferences of potential customers (tenants and landlords), and define permissible search areas and allowable ranges for bargaining. It can also search all publicly available databases and generate a statistical model that presents current market situation along with future tendencies as they relate to the customer's preferences. Finally, the system can organise interactive multi-party negotiations and formulate suggestions that assist in reaching a compromise.

Online publication date: Sat, 21-Jan-2006

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