How Does Online Information Influence Offline Transactions? Insights from Digital Real Estate Platforms

IF 5 3区 管理学 Q1 INFORMATION SCIENCE & LIBRARY SCIENCE Information Systems Research Pub Date : 2023-10-17 DOI:10.1287/isre.2020.0658
Zhengrui Jiang, Arun Rai, Hua Sun, Cheng Nie, Yuheng Hu
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引用次数: 1

Abstract

This study highlights the critical function that digital real estate platforms, like Zillow, serve in facilitating effective property transactions. They do this by transmitting vital property information from sellers to buyers, thereby enriching the value of offline deals. Our findings indicate that Zillow, as a source of information, is incredibly valuable for properties that deviate significantly from their neighborhood’s average value, either above or below. It’s particularly useful in conveying experiential details through images and textual descriptions. For potential buyers, Zillow is a trustworthy source of property information for estimating property value, especially when alternative sources of information are limited. This study underscores the necessity for sellers and their agents to effectively represent property information online, considering its significant impact on sale prices. This is especially true for unique properties and properties with notable experiential elements. Furthermore, our study suggests that real estate professionals need to modify their business practices to take full advantage of digital platforms and provide superior services to their clients. Finally, digital real estate platforms can use these insights to enhance their platform design by focusing on the collection and display of significant information, ultimately increasing the value provided to both buyers and sellers of properties.
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线上信息如何影响线下交易?来自数字房地产平台的见解
这项研究强调了数字房地产平台(如Zillow)在促进有效房地产交易方面的关键功能。他们通过将重要的房产信息从卖家传递给买家来实现这一点,从而丰富了线下交易的价值。我们的研究结果表明,Zillow作为一个信息来源,对于那些明显偏离社区平均价值的房产来说,无论是高于还是低于,都是非常有价值的。它在通过图像和文字描述传达体验细节时特别有用。对于潜在的买家来说,Zillow是一个值得信赖的房产信息来源,可以估算房产价值,尤其是在其他信息来源有限的情况下。这项研究强调了卖家和他们的代理人有效地在网上展示房产信息的必要性,考虑到它对销售价格的重大影响。对于独特属性和带有显著体验元素的属性来说尤其如此。此外,我们的研究表明,房地产专业人士需要改变他们的商业实践,以充分利用数字平台,为客户提供优质的服务。最后,数字房地产平台可以利用这些见解,通过专注于重要信息的收集和展示,来增强他们的平台设计,最终增加为房产买家和卖家提供的价值。
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来源期刊
CiteScore
9.10
自引率
8.20%
发文量
120
期刊介绍: ISR (Information Systems Research) is a journal of INFORMS, the Institute for Operations Research and the Management Sciences. Information Systems Research is a leading international journal of theory, research, and intellectual development, focused on information systems in organizations, institutions, the economy, and society.
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