Internet Marketing of Residential Properties: Investigation on Effectiveness of Its Application

Abstract

The Internet has been used so widely in many aspects of life. Lately, Website promoting and marketing of real estate has become a new wave and a new strategy. Internet eases the process of searching and matching the criteria of the house and of a buyer, however the reliability of the internet in the consumer's eyes is a factor to be discussed. Internet buying and selling does have their pros and cons which makes the topic of buying and selling a controversial topic. The research is done on both buyer and seller respectively. Through the questionnaires answered by the buyers and sellers, perspectives and opinions are pooled and analysed. Through the research, it was found out that internet buying and selling process is done by many sellers and has already impacted the property market. The Internet has many advantages which overwhelms the disadvantages, thus it is chosen as a good tool for source of information by buyers and a good marketing tool for sellers. The prediction for future use of the internet is bright and positive through both buyers' and sellers views It can be deduced that the future use of internet can be greatly exploited.

Application of e-booking system in enhancing Malaysian property developers’ competitive advantage

“…In the property industry, the e-booking system adopted helps to promote the property (Dermisi, 2004) which is listed on the website and manage the sales of the property (Alias and Pui, 2012). The e-booking system is used as an innovation booking method in the industry as it provides novelty, mobility for the booking system as well as more alternatives for the agent (Agheorghiesei and Ineson, 2011).…”

“…Besides, the e-booking system should be applied to the companies to allow the buyers to enter into a collaborative relationship (Golmohammadi et al, 2012). The players in the market believed that the internet marketing would be the major marketing tools in the future (Alias and Pui, 2012). A report by Malaysia Competition Commission (MyCC, 2015) encourages real estate companies to take advantage of the development of information technology (IT), especially in their marketing strategy to increase competitiveness and to reduce asymmetric information problem in the industry.…”

“…There are some barriers to implementing e-booking system in the property industry, such as the lack of internet reliability (Alias and Pui, 2012;Golmohammadi et al, 2012), functionality (Oludele et al, 2011), and user experiences (Agheorghiesei and Ineson, 2011;Wong, 2008).…”

“…Property companies are evolving towards the integrated use of the internet to enhance service delivery (Rowley, 2005) due to competition pressure (Maduku et al, 2016). According to Alias and Pui (2012), the culture and lifestyle of the people have evolved into an era in which a human being broadly uses the internet. For example, people can search the details or information and explore the market for houses for rent or properties for sale has been uploaded by property agents or developers by just sitting in front of the computer with access to the internet.…”

The impact of information and communication technology on real estate agency in Lagos Metropolis, Nigeria

“…Alias and Pui Jeffery (2012) investigated the effectiveness of the application of internet in the marketing of residential properties where both buyers and sellers were surveyed. The study found that websites were using links, a search engine like Google and Yahoo, and other search engines to attract more buyers and sellers with some growth in sales.…”