Computers and internet are the two new ways of doing business. However, in the real estate industry, an increased access to information hasn’t really decreased the number of real estate agents.

With the incorporation of real estate information on different property websites, the expectation was that the count of real estate agents would decrease. However, in the last 10 years, the count has only increased. Contrary to the assumption that IT would decrease the number of people involved in real estate transactions, it has only risen, say experts at IT Services Talk.

The research was done in this context, to determine whether computing could transform different industries, as claimed.  The real estate industry was chosen in the research for two reasons.

  • The rate of IT adoption by real estate agents was very high between 1995 and 2005. The changes were very visible with only 2 per cent using IT in 1995 and 97 per cent using it the year 2005
  • The housing industry is a fundamental part and also one of the fastest-growing sectors in the Indian economy

With the introduction of information technology, details such as listings, mortgage rates, demography and fees are available to the consumers online. This increase in quantity of information available has led to better informed customers. This in turn has increased the demand for specialized services because the consumers are now well-informed.

These changes are not the expected ones. Instead, they are secondary changes that were unimagined. According IT Services Talk, the unintended innovations that came along have given rise to changes in organizations and markets. This has opened new doors for social interactions.

The abundance of information available to the consumers has in fact resulted in savings for the consumers. With transparency and available data, people are now able to find and enjoy the benefits of lower interest rates.

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