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Topic : Empirical Analysis of Business volume productivity of real estate agents using Real Estate e-portals at Dehradun

Submitted in partial fulfillment of the requirement of the award of the degree of Master of Business Administration

Under the Supervision of: Prof. S.K. Dadar Associate Professor School Of Management Doon University

Submitted by: ABHISHEK UJJWAL MBA (IV SEM) SoM Doon University

The confluence of technological, economic and cultural forces during the last decade has given rise to new business models and made possible new systems and strategies that many believe will transform the very nature of work, the structure of organizations, the way firms operate, relate to other firms and compete in the marketplace. Although it may well be one of the most over-hyped technological innovations of all time, there is no question that the Internet is already having an impact upon markets and business organizations. In a short period, the Internet has emerged as a viable commercial medium, forcing significant changes on industry. Dehradun real estate is booming at a rapid pace due to its inherent advantages that make it a preferred realty destination. Some of the advantages that have been contributing to Dehradun property growth are: -good climate, -low crime rate, -good infrastructure like power and water, -prominent educational centres, etc. The surge in realty demand and pressure on property supply has been driving real estate prices in Dehradun. Property experts believe that it is a sellers market which is particularly growing at a very fast pace. Both residential and commercial property in Dehradun has appreciated three times within the time period of two years. As land rates register steep hikes every three years, there is 15-20% increase in rental values as well. Rented properties fetch around 7.5% return per annum. Now the use of e portals available are changing the dynamics of the this sector

To know the perception and attitude of the real estate agents towards the various e-portals available To assess how e-portals impacting on the business volume productivity of the agents

Real estate agents have significant perception towards various e-portals available for real estate business. Real estate agents have significant attitude towards various e-portals available for real estate business. Real Estate e-portals are impacting significantly on the business volume productivity of the agents Real Estate e-portals can significantly promote the real estate business with lesser efforts and better productivity.

With technology at the forefront of real estate, the amount of accessibility to business information continues to grow exponentially. The profound impact of instant access to data is clear to those managing a real estate business, but how does this access reach beyond the boundaries of the real estate company and into the market? They have adopted portal technology which enables them to provide a variety of tenant services and functions through a web interface. According to Eric Oakley, Tbe IT Manager at IPC, "Tbe idea of having these portals is to add value for our tenants and staff by improving communication, and making access to information and forms easy and fast. This solution saves everyone time and keeps people informed."Using portals can result in significant cost savings by reducingand hopefully eliminatingpaper statements as a company moves toward electronic statements, and direct automated e-mail for tenant reminders and notifications. "Work order integration enhances our customer service by notifying our tenants immediately as their work orders are closed and their issues have been resolved," Oakley said A portal is a seamless conduit between a Web site and the operating database that provides secure access to information, applications, forms and communication tools in Older to automate document management and electronic transactions. Online agents pay rent, and make service requests; vendors can directly submit invoices for payment. All information gathered from these users through the portal is entered directly into the operating database and processed in real time. Because it is essentially part of a Web site, portals also offer the ability to dynamically market properties by using the operating data to show buildings and available space, provide square footage and availability, and allow prospects to take virtual tours of the property and book appointments with leasing agents. As these types of administrative tasks are automated, managers and staff have more time to focus on the core real estate business. Realizing their significant value in streamlining business operations and strengthening customer relations early adopters understand the competitive edge they will gain by utilizing such automation technology to provide a higher level of service to their customers, and the resulting return on investment. Real Estate in India is on everyones mind today. One is witnessing changes in consumer behaviour, development of a lot of tier II cities, a growing network of home loan providers and new and innovative ways to get information and advertise. Be it selling, buying or renting most of us are touched by one of these aspects and all these decisions are tough decisions. We generally depend on the network of brokers that operate in that particular area and to a great deal rely on word of mouth as well as glance through ads put up by builders and developers as sources for information. But with the growth in Internet penetration and a user base of 40 million internet users in the

country the stalk has just flown in with Real Estate portals, opening a completely new source of information and way to transact. Though the developed markets are familiar with real estate portals the concept is relatively new to India and their popularity is amazingly growing. The listings both residential and commercial are growing day on day and so are the conversions. Feedback from both the supply and demand side is favourable and the response has been very encouraging. The portals are an information exchange where depending on the site- one can get listings of residential or/ and commercial listings for buying , selling or/ and renting, other useful information related to loans, laws, registrations, news etc are increasingly available on these sites too. On the supply side Internet is an effective medium as unlike print ads one is not restricted by space on the web and thus can give a more descriptive advertisement. The medium is definitely cost effective with add on features like virtual walk through, uploading video clips, chat messengers , its interactive , online databases, archives of listings and information ... One advertisement would give exposure to more targeted eye balls and returns can be measured too. On the demand side, most of us are very busy and there is a huge crunch on time. So with portals searching and comparing properties in various localities , geographies etc has become easier. At the click of a mouse we can search for houses, offices etc. Though we still do the actual transaction offline, one gets a filtered list so it is more in compliance with ones requirements. I can clearly say that portals are aimed at creating a higher level of interaction and a better user experience for both buyers and sellers. This report is intended to investigate how the various e-portals are affecting the business volume productivity for real estate agents in Dehradun.

Data collection method: In this research data will be collected from primary source and as well as secondary source. The secondary data is to be collected from magazines, news papers, journals and other published material. Internet will also be used for collecting secondary information. The primary data will be collected through questionnaire.

Sampling method- Judgemental and snowball

Universe: - The first step in developing any sample design was clearly defining the set of object to be studied. In this research universe is limited. Geographical region is Dehradun only.

Sampling units: - A decision has to be taken concerning a sampling unit before selecting sample. In this research, the sampling units are Big as well as small property dealers and agents. The sample will be drawn from Dehradun.

Size of sample: - This refers to the numbers of items to be selected from the universe to constitute a sample. The sample size for the study comprises of 50 respondents.

Data collection method: The data collected will be analysed using SPSS to establish the existing relationship between the related variables.