E-commerce in the Malaysian real estate agency industry

Abstract

Advances in Information and Communications Technology have revolutionised the ways of doing business in the real estate industry. However, scarce literature on real estate agency Internet adoption, particularly in Malaysia limits understanding on the extent of applications and implications of Internet on real estate agency business activities. Thus, this study aims to investigate how real estate agencies in Malaysia adopt Internet strategy, focusing on websites, in their business activities. Questionnaires were distributed to 21 registered real estate agencies in Johor Bahru to obtain information on the firm’s background, use and impact of websites on the firms’ business. Analysis results showed active participation and utilisation of Internet by Malaysian real estate agency firms. Websites were used as a platform to promote the company’s brand and property listings to the prospective buyers. There was a positive relationship between website and sale generation with number of website visitors being an important factor in sales generation. Consumers concern for information security remained a major barrier in the real estate business. The findings of this study enhances understanding on website use and impact in the real estate agencies business. Further study may explore other types of Internet strategy such as emails and social media.