Title: Connecting potential tenants and landlords via the internet: development and pilot testing of a transaction system for a commercial real estate enterprise
Authors: Boris Stavrovski
Addresses: Department of Business, The College of Staten Island, The City University of New York, 2800 Victory Boulevard, Staten Island, NY 10314, USA
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.
Keywords: service operations; world wide web; web optimisation models; data mining; business intelligence; entrepreneurship; creativity; commercial real estate; transaction systems; internet; tenants; landlords; business transactions; real estate transactions; decision making.
International Journal of Internet and Enterprise Management, 2005 Vol.3 No.4, pp.345 - 364
Published online: 21 Jan 2006 *Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article