Affiliation:
1. School of Accountancy and MIS, Depaul University, Chicago, IL, USA
Abstract
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.
Subject
Multidisciplinary,General Engineering,General Business, Management and Accounting,General Computer Science
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