Authors: Willem Selen
Addresses: Discipline of Operations and Technology Management, Macquarie Graduate School of Management, Macquarie University, NSW 2109, Australia
Abstract: The internet is opening up new business opportunities for the real estate industry. It provides real estate companies with new ways to collaborate with service providers, gain customer and market information, and communicate with the customer in new ways to turn the industry into a customer-centric driven modus operandi. It also makes the real estate market more transparent, and hence more efficient. This, in turn, will create downward pressure on existing commission fees, create multiple revenue channels, and redefine the role of the agent as an intermediary. In order to move towards a more desirable one-stop shopping experience, real estate companies have to form closer relationships with various business players, thereby moving towards a collaborative commerce model. Such a model is outlined to show how it could work for the real estate industry. Whilst much more is to be done in implementing the total collaborative commerce model, some initial progress is being made in integrating website design features for one-on-one marketing, and in linking web-interface design and development with the enabling supply chain partners and information providers within the service value chain.
Keywords: demand chain; e-business; real estate; collaborative commerce.
International Journal of Services Technology and Management, 2003 Vol.4 No.4/5/6, pp.518 - 531
Available online: 24 Sep 2003 *Full-text access for editors Access for subscribers Purchase this article Comment on this article