An Integrated Analysis of Value-Based Adoption Model and Information Systems Success Model for PropTech Service Platform

Abstract

This study develops a sustainable PropTech service model. Specifically, it analyzes the consumer-oriented and service provider-oriented service elements to build a sustainable ecosystem. This study also conducts a preliminary examination to standardize an efficient service platform reflecting the consumer and service factors. Hence, the study analyzes the service factors of users and derives a reference for the quality-of-service design using the value-based adoption model and the information systems success model, respectively. By integrating these models, we develop a tool to analyze empirically the important elements influencing PropTech users. To this end, we conducted a questionnaire survey among 530 PropTech users from 24 August 2021 to 14 September 2021. The results show that the consumer’s intention to use services is influenced by service practicability in terms of consumer value. The intention to continue using a service is influenced by user satisfaction. The results also highlight the importance of considering all the quality factors when building a user-friendly service platform. These findings have implications in that they show the importance of a sustainable PropTech service platform in resolving information asymmetry, promoting transparent transactions, and enhancing productivity in the real estate industry.

Predicting the Adoption of Insurtech Among Generation Z in Indonesia

“…Several previous research shows that the quality of a system has an impact on consumers' intentions to use Insurtech. For example, research conducted by [24] found that the service's practicality and consumer value influence the consumer intentions in using services. In addition, [25] explored the relationship between system quality and total customer satisfaction, indicating that system product quality can influence customer satisfaction.…”

Is Digitalization Worth the Hassle? Two cases of Innovation Building Operation and Maintenance

“…More generally, in 2019 [12] pointed out that PropTech is one small part of the digital transformation of the property industry, affecting the real estate regarding technology-driven innovation in design, data assembly, and transactions. Thus, PropTech integrates cutting-edge technologies to provide innovative services and improve operations [13]. Even if digitalization in the real estate is moving very slowly, many benefits may be identified in the technology application [14].…”

“…Even if digitalization in the real estate is moving very slowly, many benefits may be identified in the technology application [14]. PropTech solutions are optimizing brokerage services using Internet and smartphones, valuation activities adopting big data and artificial intelligence, and buying-selling-rental platforms [13]. The digital evolution of the recent years pushed not only cities to become smart, but also spaces and buildings [15].…”

“…In this contest, the Operational and Maintenance (O&M) phase has been identified as the highest consumer of resources (materials, energy, and costs) among all the phases of a building's life cycle. The literature highlights that the development of information technology, especially through the adoption of artificial intelligence and big data management, allows for an optimized decision-making process [13]. Thus, the need to optimize sustainable performance of buildings during the O&M phase encourages building managers to adopt digital tools and improve existing building management systems (BMS) [22].…”

The impact of digitalization on the practice of determining economical cadastral valuation

“…The PropTech concept, developed by the University of Oxford (Starr et al, 2020) has become widespread globally, offering radically new approaches to real estate acquisition, operation, and management. The main idea of PropTech is to use digitalization methods to optimize, rethink and increase the efficiency of all processes, one way or another, related to real estate (Ali and Siniak, 2020;Kim and Kim, 2021;Ullah et al, 2021). The concept includes such categories of IT platforms as PropTech were explined in details of (Porter et al, 2019), ConTech (Tagliaro et al, 2021) FinTech (Milanović et al, 2020;Mirchandani et al, 2020;Moro-Visconti et al, 2020) and Internet of Things (Ullah et al, 2018;Wei, et al, 2022).…”