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英国论文代写范文精选-The application of Internet in real estate industry

2016-06-13 | 来源:51due教员组 | 类别:更多范文

51Due英国论文代写网精选assignment代写范文:“The application of Internet in real estate industry”,这篇论文讨论了互联网在房地产行业中的应用。互联网,有着便捷、速度快、成本低和通用性强的特点。随着互联网的发展,人们在网上进行购物和花费也越来越流行了。而房地产商纷纷利用互联网推广自己,或者是利用互联网进行房地产销售。

The Internet, in its Web based graphics version, has captured the imagination of both consumers and businesses. Its convenience, speed, low cost and versatility are being exploited on a daily basis in ever-changing ways.

Together with its capacity to transform existing businesses, promote new businesses and facilitate exchange of information and data, its other striking attribute has been the speed with which this new technology has spread throughout the global economy. The number of computer hosts grew by more than ten-fold between 1995 and early 1999. The number of Web sites increased almost 100-fold, to over two million, between 1995 and 1998.by the year 2000, there will be approximately 400-500 million Internet users in the world, and the total number of Web sites will exceed five million.

This new technology has the potential for affecting the real estate industry directly and indirectly. Directly, it may become a tool that allows a real estate business to expand its information and sales network. Indirectly, it may change the location equation where and how firms do business which in turn will affect the role of firms involved in real estate development, investment and transactions. There are few reliable published statistics on Internet or Web use, and statistics reported by different analysts are often inconsistent.

Our discussion of the Web and real estate is based on limited information from surveys and on examination of Web sites rather than on more comprehensive data. We have built our overview of the role of the World Wide Web and real estate by examining a variety of sources. Before the advent of the World Wide Web, the Internet existed mostly for the purposes of e-mail, data transfers, newsgroups and bulletin boards, and its reach was limited primarily to the academic and the defense community.

The technology itself was not particularly user-friendly, the network speed was not very high, the medium was limited to text and data, and accessing information was cumbersome and time-consuming. The browser technology greatly simplified usage, enabled multimedia information, and created interactive possibilities. The technology brought together TV entertainment, library information, news bulletins, communication and data in one desktop machine.

Although initially the greatest patrons of the Internet were the academic community, the commercial sector quickly caught on to the potential of the Web. The private sector saw in the Web an opportunity to widen its marketing reach, lower costs of information dissemination, improve customer relations, and ultimately to conduct sales. Existing private sector Web sites can be roughly categorized into three types, as summarized.

The most basic level is for simple information dissemination. The firm registers a Web site and develops a page giving basic company information. The second stage is an expansion of information, marketing goods and services or providing other customer information. The third stage is the addition of transactions to the activities possible on the Web site.

Most business sites at present are in Stage The use of the World Wide Web for detailed information dissemination, and marketing has had several advantages. For the firm, marketing, information dissemination and customer services on the Web can be monitored and analyzed with some details unavailable from conventional methods of marketing using other media. Internet tools can now provide a firm with data on who accessed the site, which pages were visited most, heavily, from where and for how long.

This information contributes to improved measures of the results of promotional efforts. The promotional costs associated with the Internet have also been very low. For example, in direct mail marketing, to send a one-page color brochure to 5,000 random addresses will cost upwards of $2,500. The cost of setting up a Web site could be one-tenth of this amount or less.

Many different sectors, including real estate, have found the Internet to be both efficient and cost-effective as a marketing device. The next logical step - a full-fledged office/store on the Web with transaction capability and commerce on the Internet is now being attempted in varying degrees depending on the firm's area of business. Retail sites selling products between $10 and $100, the kind that are traditionally part of a direct mail sales catalog, seem to be the ones having the greatest success.

A number of retail sites have also harnessed a secondary revenue stream from advertising. Advertising revenues on the Web have crossed the billion-dollar mark and total Internet generated revenue will approach$100 billion this year. Surveys of consumers using the Web suggest that a Web site does not substitute for the more traditional forms of business, but can greatly facilitate the run-up to the final transaction. The most common use of the Web is for information searching, closely followed by work-related uses, education, and entertainment. A significant majority of those that use the Web for shopping do so to carry out detailed research on product information (90%) and to do price comparisons(85%).

This more often leads to purchases through normal channels (67%). Most of the online purchases tend to be of items that are standardized-four of the five top items bought on the Web, according to survey, are software, books, hardware and music. More than half of consumers who make purchases on the Web spend less than $500 in a six-month period. The demographics of Web users vary widely in age and income. Surveys by Georgia Tech, Active Media and Web indicate that the average age of Web users is 35 years, with average household income $67,000. Most are college educated (65%). A high proportion of the respondents (42%) has accessed real estate sites.

New technology is frequently a mixed blessing, and the World Wide Web is no exception. Apart from the teething troubles that any new technology faces and the time, as well as resources needed to learn, adapt and master it, the Web poses some unique issues and problems of its own.

Consumers today are facing information overload of taxing proportions. It is not always easy, or even possible, to locate the relevant information on the Web, despite sophisticated search engines. Once the site is located, fancy graphics, complex linkages, labyrinthine routings, and a lot of irrelevant information may overwhelm the consumer - in short, poor and confusing site design can reduce the site's effectiveness.

From the point of view of the business, there are two commonly heard complaints. First, the business may find that its site does not figure prominently on search results, limiting the number of customers reached. Second, for many firms, Web initiated leads are as yet few and far between. Real Estate firms and related businesses were among the early private sector pioneers of Internet use and have had a fast growing presence on the Web.

Presence on the Web. One example of the real estate sector's presence on the Internet in its pre-World Wide Web incarnation was the real estate classified bulletin board of Prodigy, the online service, which had listings for homes and other real estate. A few real estate related Web sites started in 1994. The New York City Real Estate Guide Web site, created in the summer of 1994, was one of the first to offer free access to the latest New York real estate information. By the summer of 1995, the site was receiving more than 100,000 inquiries a month.

The real estate industry registered its entry on the Web in a dramatic way in 1995. By the end of that year there were close to 4,000 real estate Web sites. The content matter of the sites, as well as the mix of real estate related firms on the Web have changed over time. Initially, quite a few of the sites were residential real estate brokerages and listing guides, but fairly rapidly the list expanded to include commercial and retail listings, mortgage brokers, appraisers, architects, real estate attorneys, developers, construction firms, and suppliers.

As investment vehicles for real estate expanded, REITs, publicly held firms, and investment advisors also added Web sites. The early real estate broker Web sites quickly took advantage of the unique features of the Web. Prospective customers could find out what properties were for sale or rent, look up detailed descriptions of each listing, view photographs and floor plans, and contact the broker by e-mail. Viewers could also look up statistical and data reports on conditions in various geographical areas and on emerging macroeconomic trends.

Ever since then, the real estate industry has been among the most enthusiastic users of the Web, by some measures accounting for 4% to 6% of commercial Web sites. A survey conducted by Real Estate Broker's Insider in early 1998 confirmed that nearly 95% of the respondents/brokers had a Web site, and more than 90% of the housing stock on sale at a given time is now listed on the Web. Indeed, because of the dispersed, localized nature of the role of information in real estate, the prospective gains from information dissemination, comparability, and Web links were particularly significant in real estate. For much of the real estate sector, the Internet generates not so much the actual transactions themselves, but creates initial leads that are later followed by transactions, purchases and sales.

Web sites frequently lead to contacts that are then nurtured through telephone and person-to-person meetings. For residential real estate, Web activity includes residential searches, housing details, and pricing information, with follow-up contact with brokers. Real estate-related transactions are seen in the hospitality industry. Mortgage and home loan finance companies report both inquiries from mortgage shoppers who obtained initial information from their Web sites, as well as closing of loans through the Web, lead to great savings in time and overhead costs.

It is not just the real estate professionals who are enthusiastic about their Internet presence, judging it to be as effective as print and radio advertising. Mortgage shoppers, homebuyers and vacation rental seekers as well applaud, in particular, the convenience it brings to the entire process of searching, researching, comparing, communicating and transacting business.

Beyond these sectors, many other types of real-estate related firms are using the Web to broaden their market areas, increase the depth of their marketing, and to provide a range of services to existing customers. Commercial brokers provide not only information on available sites but also on market conditions for different locations and sometimes more in-depth economic analysis of a region. REITs and other investment firms provide detailed information on their products as well as background market or economic information. Public companies provide up-to-date stock quotes and quarterly and annual reports on the Web.

We conducted a limited survey of a sample of leading real-estate related firms in the US and California. Responses from approximately 60 of these firms showed that over four-fifths had Web Sites by March 1999.2 Of those with Web sites, one-third had inaugurated their sites by the end of 1996. Among the earliest with a Web presence were brokers, investment firms, lenders, business and financial services firms, law firms, residential developers, and a trade organization.

Another third of the group were newcomers, with sites inaugurated in 1998 or early 1999. Commercial developers were prominent among this group, with residential developers, consultants and advisors, lenders, REITs and investment firms also among this group.

Those without sites were more likely to be privately held firms with a relatively narrow base of activity. Most with Web sites used their site to provide information about the company and to market services. In addition, about one-third marketed property from their site, providing detailed information on the characteristics of buildings available, surrounding communities, and other related data.

Other Web site uses include employee recruiting, providing information for members or investors, and disseminating related information on topics such as regulations or real estate markets. According to Activemedia, an internet research company, some of the sectors experiencing the greatest growth in terms of their presence on the Web in 1998 were computer hardware and software, real estate, publishing and information, finance and Internet services. A significant initial motivation for this rush for the Web is provided by.

Real estate shares in some of the basic advantages of the Web mentioned earlier, such as ease of marketing, communication and feedback from clients, lowered costs of operations and convenience of customer service and support. In addition, the Web provides positive features specific to the real estate industry.

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