The impact of information and communication technology on real estate agency in Lagos Metropolis, Nigeria

Theophilus Olugbenga Babatunde (Department of Estate Management, Obafemi Awolowo University, Ile-Ife, Nigeria)
Cyril Ayodele Ajayi (Department of Estate Management, Obafemi Awolowo University, Ile-Ife, Nigeria)

Property Management

ISSN: 0263-7472

Publication date: 16 April 2018

Abstract

Purpose

The purpose of this paper is to evaluate the effect of information and communication technology (ICT) on real estate agency transactions with a view to determine its influence on the performance of estate agents.

Design/methodology/approach

A research approach in which questionnaire was administered to elicit relevant information from 220 practicing Estate Surveyors and Valuers surveyed in the course of the study. Data collected were analysed using mean ranking, relative influence index and analysis of variance.

Findings

The results showed that the use of ICT impacted positively on real estate agency transactions by promoting company’s brand thereby increasing the level of patronage. Consequently, the increased level of patronage signifies an increase in the level of income of the agents.

Research limitations/implications

The study was limited to social media applications otherwise referred to as ICT, which are used in real estate agency transactions. Further study on other ICT media and their effects on more areas of real estate practice in the developing economy may be required.

Originality/value

This paper is one of the few works on the impact of ICT on real estate agency transactions with particular reference to the social media networking especially in an emerging economy. Most of the previous studies conducted on ICT and real estate focussed only on internet use with respect to real estate agents and practices.

Keywords

Citation

Babatunde, T. and Ajayi, C. (2018), "The impact of information and communication technology on real estate agency in Lagos Metropolis, Nigeria", Property Management, Vol. 36 No. 2, pp. 173-185. https://doi.org/10.1108/PM-10-2016-0057

Download as .RIS

Publisher

:

Emerald Publishing Limited

Copyright © 2018, Emerald Publishing Limited

Please note you might not have access to this content

You may be able to access this content by login via Shibboleth, Open Athens or with your Emerald account.
If you would like to contact us about accessing this content, click the button and fill out the form.
To rent this content from Deepdyve, please click the button.