In this paper, we will explore the ways in which electronic commerce, the World-wide Web (WWW) in particular, is affecting the real estate industry. Real estate is a promising setting for studying electronic commerce because it is an information-intensive and information-driven industry; transaction-based, with high value and asset-specificity; market-intermediary (agents and brokers connect buyers and sellers rather than buying or selling themselves); and experiencing on-going information technology (IT) related changes. In this paper, we apply a coordination theory framework to suggest where IT might change the process of buying or selling a house. Electronic commerce applications have the potential to drastically change current practices in the real-estate industry, including the disintermediation of agents. Web-based commerce is eroding the long-enjoyed information monopoly of real-estate agents. We illustrate this potential by reviewing a number of existing real estate websites that demonstrate the possible impact of electronic commerce on this industry.
Crowston, Kevin and Wigand, Rolf, "Use of the Web for Electronic Commerce in Real Estate" (1998). AMCIS 1998 Proceedings. 99.