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Opinion Leaders in Real Estate Markets


  • P. Sanjay Sarathy

    () (XLRI, School of Business and Human Resources, Circuit House Area East, Jamshedpur, 831 035, India;)


The purpose of this research paper is to examine the influence of opinion leaders in real estate markets. First, we provide a literature review of opinion leaders and real estate markets in India. Secondly, the variables that influence the opinion leaders are established and their measurement is well defined. Thirdly, a survey has been conducted by using a self-administered questionnaire, which was sent to 234 individuals who are responsible for handling real estate firms. The research model is empirically tested in a sample of 128 respondents by using a chi-square analysis. This study finds that opinion leaders in real estate markets possess significantly higher levels in exposure to media sources, social involvement, product knowledge, innovativeness, and computer usage than non-leaders. Opinion leaders also possess a higher degree of social networking and have used the internet more frequently for longer sessions than non-leaders. Finally, we identify the key implications, conclude the research finding and explore potential avenues for future research.

Suggested Citation

  • P. Sanjay Sarathy, 2011. "Opinion Leaders in Real Estate Markets," International Real Estate Review, Asian Real Estate Society, vol. 14(3), pages 354-373.
  • Handle: RePEc:ire:issued:v:14:n:03:2011:p:354-373

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    References listed on IDEAS

    1. Celsi, Richard L. & Chow, Simeon & Olson, Jerry C. & Walker, Beth A., 1992. "The construct validity of intrinsic sources of personal relevance: An intra-individual source of felt involvement," Journal of Business Research, Elsevier, vol. 25(2), pages 165-185, September.
    2. Moore, William L & Lehmann, Donald R, 1980. " Individual Differences in Search Behavior for a Nondurable," Journal of Consumer Research, Oxford University Press, vol. 7(3), pages 296-307, December.
    3. Gatignon, Hubert & Robertson, Thomas S, 1985. " A Propositional Inventory for New Diffusion Research," Journal of Consumer Research, Oxford University Press, vol. 11(4), pages 849-867, March.
    4. Beatty, Sharon E & Smith, Scott M, 1987. " External Search Effort: An Investigation across Several Product Categories," Journal of Consumer Research, Oxford University Press, vol. 14(1), pages 83-95, June.
    5. Klein, Lisa R., 1998. "Evaluating the Potential of Interactive Media through a New Lens: Search versus Experience Goods," Journal of Business Research, Elsevier, vol. 41(3), pages 195-203, March.
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    More about this item


    Financial leverage; Asset valuation; Taxation;

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services


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