Real Estate and the Internet of Value

Author(s):  
Alastair Moore ◽  
Niall Roche ◽  
Nikhil Vadgama
Keyword(s):  
Author(s):  
Jon T.S. Quah ◽  
Vincent L.H. Seet

WAP (wireless application protocol) has failed to take off exponentially as anticipated by industry players over the last few years with the slow acceptance by the consumers. The big players of WAP mobile phone manufacturers and mobile operators had over-hyped the advantages of using WAP to access the Internet ubiquitously. This had led to a mismatch in the consumers’ expectations when they eventually realized that user experience in surfing the Internet with WAP phones was not what was perceived earlier. The perceived experience was equated with that of surfing the Internet with desktop personal computers, browsing Web sites with rich multimedia contents. The reality is, WAP phones have limited screen real estate, and these came with monochrome displays initially. Thus, WAP contents have to be specially coded to suit the small screens for browsing. WAP phones with color displays were only available in quantity and variety since late 2002. Much of the WAP content available has not yet redesigned to take advantage of the new color displays. The attainable bandwidth for WAP surfing is only a small fraction when compared to broadband access. The bandwidth attainable by surfing WAP over GPRS (General Packet Radio Service, a 2.5-generation GSM packet data technology) is between 20 kbps to 40 kbps, whereas it is 256 kbps to 1,024 kbps for broadband. Prior to the availability of GPRS, WAP was carried over CSD (GSM Circuit Switch Data) and had an attainable bandwidth of merely 9.6 kbps. With these limiting factors, rich multimedia contents are simply not applicable to WAP at the moment (Gehlen & Bergs, 2004; Bai, Chou, Yen, & Lin, 2005). The limited screen real estate of WAP phones has also created navigation problems which involved many selections and too many moves between cards for consumers to achieve their goals. It was said that WAP is the “Wrong Approach to Portability,” and it is a technology designed by techies for techies, without the best interests of the consumer at heart (George & Sarch, 2001). Others said that WAP’s days were numbered and soon it would R.I.P. (rest in peace) (Saymour et al., 2001). It is certain that some amount of guidance is required for the less techie consumers during their initial encounters with WAP. Nevertheless, WAP is a good technology that allows one to access handy information in a timely fashion and ubiquitously. Like it or not, WAP will be around for some time, but much improvement is needed to make WAP surfing a less painful experience for consumers (Mahmoud, 2004; Sriskanthan, Meher, Ng, & Heng, 2004; Yeo, Hui, & Lee, 2004; Ma & Irvine, 2004; Radhamani & Siddiqi, 2004; Hung & Chang, 2005; Albastaki & Alajeeli, 2005; Gilbert & Han, 2005). Mobile Internet browsing using WAP phones has created unique problems of its kind. One of the challenges that consumers faced is that they are only equipped with a small screen for browsing WAP contents. This makes navigating to WAP sites of interest on WAP portals a hassle. WAP portals served as consumers’ gateway to the WAP sites offered by third-party content providers. These portals usually organize the list of WAP sites into a multilevel tree hierarchy structure. Consumers are required to navigate deep down the tree to access their favorite sites. This article proposes methods for making WAP portals adaptive. Such portals reduce time spent by consumers in navigation, hence there is more time for content browsing. The proposed methods do not require explicit consumers’ input for adaptation, but rather they implicitly track consumers’ navigation activities among WAP sites and use this input to form the basis of consumers’ preferences for adaptation. The methods had also taken into account possible drift of consumers’ interests over time, and weighted computation is used to achieve adaptation that will be of relevance to consumers at any point of time. Preliminary experiments with mobile users have yielded promising results.


Complexity ◽  
2019 ◽  
Vol 2019 ◽  
pp. 1-15
Author(s):  
Ming Li ◽  
Guojun Zhang ◽  
Yunliang Chen ◽  
Chunshan Zhou

Many studies have used housing prices on the Internet real estate information platforms as data sources, but platforms differ in the nature and quality of the data they release. However, few studies have analysed these differences or their effect on research. In this study, second-hand neighbourhood housing prices and information on five online real estate information platforms in Guangzhou, China, were comparatively analysed and the performance of neighbourhoods’ raw information from four for-profit online real estate information platforms was evaluated by applying the same housing price model. The comparison results show that the official second-hand residential housing prices at city and district level are generally lower than those issued on four for-profit real estate websites. The same second-hand neighbourhood housing prices are similar across each of the four for-profit real estate websites due to cross-referencing among real estate websites. The differences of housing prices in the central city area are significantly fewer than those in the periphery. The variation of each neighbourhood’s housing prices on each website decreases gradually from the city centre to the periphery, but the relative variation stays stable. The results of the four hedonic models have some inconsistencies with other studies’ findings, demonstrating that errors exist in raw information on neighbourhoods taken from Internet platforms. These results remind researchers to choose housing price data sources cautiously and that raw information on neighbourhoods from Internet platforms should be appropriately cleaned.


2021 ◽  
Vol 33 (6) ◽  
pp. 1-16
Author(s):  
Delong Zhu

The sudden attack of the new crown virus in 2020 has brought an unprecedented impact on the real estate market economy and has completely disrupted people's work and life rhythm! With the rapid development of the Internet, the Internet has penetrated into all aspects of people's lives. As soon as e-commerce was introduced, it was loved by the majority of young people and brought tremendous changes to people's lives. Based on this, this paper studies a real estate virtual e-commerce model based on big data. In the study of this model, this paper combines the advantages of e-commerce and virtual communities to design a more effective virtual e-commerce model. The analysis of e-commerce and virtual communities shows that the virtual e-commerce model designed in this paper is a more effective model, and the real estate virtual e-commerce model based on big data technology can serve the real estate industry. Do a good job in the sales reform of the real estate industry.


2005 ◽  
Vol 11 (2) ◽  
pp. 91-97 ◽  
Author(s):  
Artūras Kaklauskas ◽  
Mindaugas Gikys

One of the major problems in Multiple Listing Service Systems is to find what you want. Number of real estate alternatives on the Internet is thousands. How can customers find the rational alternative on the Internet? Once real estate is found, the customer usually wants to compare alternatives. There are five types of aids to comparison shopping: search on hypertext files by agents, search alternatives on databases, alternative search and tabular comparison, comparison of alternative products and services from multiple malls, search and multiple criteria decision‐making. Therefore, the efficiency of Multiple Listing Service Systems may be increased by applying multiple criteria decision support systems developed by authors. The authors have developed Web‐based Decision Support System for Real Estate (DSS‐RE). Proposed DSS‐RE can create value in next important ways: help customers assess their needs, identify suitable real estate to fulfil needs, compare and evaluate real estate, help customers evaluate the usefulness of the real estate in the after‐purchase evaluation stage, etc.


2019 ◽  
pp. 162-171
Author(s):  
Inger H. Dalsgaard
Keyword(s):  

Author(s):  
Emna Cherif

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.


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