Internet Use in Real Estate Essay Example | Topics and Well Written Essays - 2500 words

Internet Use in Real Estate - Essay Example Using internet in real estate marketing; for the years industry analyst had predicted a growth in internet uses and fundamental changes in the real estate services, though the number of the internet users continue to grow, changes in the real estate services have not been that fundamental. The increase in the use of internet, specifically the World Wide Web (www) in the past ten years or so has been exceptional and has impacted almost every sector in developed nations. Among the most significant aspect in individuals' lives, is their housing condition. In many western countries this is normally a residential property which is owned by the person occupying it. Thus owner-occupiers have a high interest in the way residential markets operate. Which the trend in the market changing and many real estate firms adopting internet as a marketing tool, for selling, advertising and listing, this paper will seek to find out how the use of world wide web and e-commence has impacted the real estate industry and how a company can adopt the use of internet in its operations (Baen and Guttery, 1997) To address this subject, the study paper will carry on, along the following field: internet will have to be defined for reasons of theoretical clarity; e-commerce, definition and essentials, and functions will be underscored; reasons for real estate using e-commerce will be discuses, and how to create an effective website for real estate companies will be discussed at length; and lastly "a way forward" in terms of a conclusion will be provided How the characteristics of e-commerce make it a new force in business operations What is e-commerce E-commerce is the trade of services and products by means of computer networks or the internet. Chan, Lee, & Dillon, (2001) defines e-commerce as selling and buying of goods or services using electronic media it follows the basic principles of traditional commerce but in this case, buyers and sellers swap commodities through the internet for money. In e-commerce sellers and consumers of products transact business over networked computerized processes. This has offered maximum convenience to buyers and sellers alike. (Kroll, 2000) Buyers in this form of business get the opportunity to compare prices, quality and other factors before deciding to undertake the transaction. The buyer gets advantages of saving on physical transport costs and he/she can a product even from far place on a click of the mouse. Importance of e-commerce as a strategic component of real estates business E-commerce serves as a vital strategic tool for companies. When e-commerce is well used in real estate compa