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Analysis of the Internet Impact on the Real Estate Industry

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  • Emna Cherif

    (School of Accountancy and MIS, Depaul University, Chicago, IL, USA)

Abstract

Real estate is an information intensive industry where realtors/agents represent information intermediaries between buyers and sellers. This paper analyzes the evolution that the Internet brings to the real estate transactions at different levels. The authors discuss the stages of both traditional and internet based residential real estate transaction. The authors perform UML language modelling and analysis of the transactions in the real estate industry for both traditional and using Internet. The authors also compare their models to the frameworks in the service science area. Then the authors discuss how transactions costs may be reduced and provide competitive advantage for new services.

Suggested Citation

  • Emna Cherif, 2013. "Analysis of the Internet Impact on the Real Estate Industry," International Journal of Service Science, Management, Engineering, and Technology (IJSSMET), IGI Global, vol. 4(3), pages 51-67, July.
    • Handle: RePEc:igg:jssmet:v:4:y:2013:i:3:p:51-67
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