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Effect Of Internet Technology On Real Estate Industry

1112 Words5 Pages

Industries Affected By Internet Technologies
SHILPIKA KOTINA(14124726)

INTRODUCTION:

Internet Technology has the ability to share or transfer information and data from one to another with the help of different systems and servers. This technology has simplified the complexitily method of communicaton and became the important part of all the industries.

The interconnected computer networks known as the Internet is used by many people all over the world. Uncountable people helped to build and developed it. The computer scientist Lawrence Roberts invented the internet in the 1960s (Wolchover, 2012) (K.C.Laudon), this global network began as a U.S. Defense Department's ARPA (Advanced Research Projects Agency) network to link scientists and …show more content…

It’s a wealth of information for anyone who can access the internet. There are many industries and organizations adopted the Internet technologies like Banking, Education,Travel, Real Estate, Telecommunication, Postal, medicine, E-business(shopping,trading etc.,) and many more.

Thus, the purpose of this project is to discuss the different ways the companies used the Internet technoligies to gain competative advantage so considering Travel and Real Estate Industries to know their affect.

IMPLEMENTATION:

Before: Earlier the end traders to the customer were mostly the agents in the Travel and Real Estate Industries, they used to play major role in the industries. Function or the structure of the industries are as in the below picture(1), there are 3 ways the industries used to run. The nature of the business was purely business to business.

Considering the Travel Industries structure: The airlines, car rentals, cruise lines, hotels, railways sell their tickets to travel aggiency or tour operator and so custmer have to visit or contact them to buy for their travel. And considering the Real Estate Industries structure: The landlords or sellers visit the agencies and help them to advitise their property accordingly.

picture(1) Source: Chaffey, …show more content…

Customers have global communication and also wider options with self service bookings. They have access to high-quality information, various offers, immediate order, express delivery and human personality.

There are few disadvantages for the customers like incomplete web information, security level for payments is not satisfactory and certain services still need to be approached directly to the travel aggent.

CONCLUSION:

The Internet technology has became a dominating force in the travel and real estate industries. The agents need to embrace the technology and integrate it into their daily routine. It created a unique identity, increased efficiency and developed value-added services. Its also a rational and fast online communication, direct contact with the market and its business partners, integration and automation of business process, delivery and access of information. There are few drawbacks which can be rectified and also can be further improved by implementing the new or emerging

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