Awareness and Usage of Mobile Technology in Real Estate Practice in  Developing Countries: The Case of Ikeja, Lagos State, Nigeria

Akeju, M.; Olapade, Daramola Thompson; Babatunde, Theophilus Olugbenga

doi:10.11113/intrest.v15n1.9

Cited by 2 publications

(4 citation statements)

References 8 publications

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“…The restriction to Ikeja was to curb unnecessary generalisation of results. Moreover, Ikeja was chosen because it is one of the three primary stratifications of the Lagos property market (Akeju et al, 2021). Furthermore, this research is limited to ESVs because they are the only duly registered professionals in Nigeria who are certified competent and have legal approval to offer services such as valuation, agency, property management, and marketing, among others Demola-Alade, 2021).…”

Section: Methodsmentioning

confidence: 99%

“…The adoption of modern technologies in real estate has been the topic of extensive academic research (Warburton, 2016;Ullah and Sepasgozar, 2019;Akinwamide and Bello, 2019;Diah, 2019;Saiz, 2020;Low et al (2020);Ullah and Al-Turjman, 2021;Kayihura, 2021;Akinwamide and Hahn, 2021;Akeju et al, 2021).…”

Section: Review Of Past Studiesmentioning

confidence: 99%

“…Several research efforts exist on the impact of technology on real estate practice. For example, South Africa (Warburton, 2016), Malaysia (Mohd, 2019Diah, 2019;Ullah et al, 2020;Ullah and Al-Turjman, 2021), the US (Saiz, 2020), the UK (Braesemann and Baum, 2020), Sweden (Kayihura, 2021) as well as in Nigeria (Mohammed and Bello, 2021;Akinwamide and Hahn, 2021;Agara (2021); Akeju et al, 2021) among others.…”

Section: Introductionmentioning

confidence: 99%

“…Akeju et al (2021) investigated real estate firms' awareness and use of mobile technology to provide information that will raise awareness of mobile technology and encourage its use in real estate practice.These studies notwithstanding, there appears to be a scarcity of research into the benefits and challenges of using modern technologies in real estate marketing. The few previous studies in this area include the efforts ofAkinwamide and Bello (2019),Low et al (2020),Agara (2021), and.…”

mentioning

confidence: 99%

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Benefits and Challenges to the Adoption of Modern Technologies for Real Estate Marketing in Lagos, Nigeria

Oluwunmi,

Agara

2023

JARER

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Historically, some industries have lagged behind others in adopting technological improvements. Real estate is one of such industries. Even as technology affects the world around them, many real estate professionals continue to market or manage properties the same way they did in the past (Barillas, 2020). Hence, there is a need to savvy how informed they are about modern technology options that can boost their productivity, and why they have not leveraged these options. Therefore, this research examined the benefits and challenges of marketing real estate utilising selected modern technologies in Ikeja, Lagos State, Nigeria. Eight-two questionnaires were administered on the Estate Surveyors and Valuers (ESVs) in the study area and 76 (93%) were returned and found useful. The data was analysed with the use of percentages, mean and relative importance index. The findings show that majority of the ESVs are aware of digital marketing (90%), big data (89%), virtual reality (82%), artificial intelligence (79%), drone technology (79%) and blockchain technology (68%) as a medium for marketing real estate. The study also revealed that the most commonly used technology for marketing real estate is digital marketing (e.g. email, WhatsApp, Telegram e.t.c). The findings further show their perception of the benefits of adopting these technologies as reduction in manual labour (RII=0.903) and efficient communication between clients and real estate agents (RII=0.903), amongst others. Finally, the ESVs have not adopted most of the modern technologies because of resistance to adoption of modern technologies (mean=4.68) and lack of up-to-date and relevant property information (mean=4.51). The study concluded that there is a need for the Nigerian Institution of Estate Surveyors and Valuers (NIESV) and the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON) to provide opportunities for ESVs to be enlightened, educated and trained on the various technologies for real estate marketing.

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Section: Methodsmentioning

confidence: 99%