Strategies for Real Estate Professionals to Compete With Internet Organizations

Strategies for Real Estate Professionals to Compete With Internet Organizations by Jennifer J. Dorwart MBA, Chadron State College, 2007 BA, Chadron State College, 2004 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University December 2016 Abstract There has been slow growth among traditional residential real estate organization managers to communicate among the real estate industry successful e-commerce strategies. Grounded in diffusion of innovation theory, the purpose of this descriptive case study was to explore strategies traditional residential real estate managers use to compete with e-commerce real estate managers. The study population comprised traditional real estate office managers in western Nebraska who had at least 5 years’ experience in developing successful e-commerce strategies and had sold a home in the past 5 years. I conducted a thematic analysis on the data collected via semistructured interviews and company documents. Four themes emerged from the analysis, including establishing and maintaining multiple e-commerce websites, regularly monitoring websites, establishing a visible presence on multiple e-commerce websites, and preparation to evolve as technology evolves. The study’s implications for positive social change include the potential for traditional residential real estate organization managers’ to develop and use new and useful strategies for overcoming barriers and effectively competing with e-commerce real estate organizations to remain competitive in the local economy through job creation, innovation, and competitiveness to sustain their businesses.There has been slow growth among traditional residential real estate organization managers to communicate among the real estate industry successful e-commerce strategies. Grounded in diffusion of innovation theory, the purpose of this descriptive case study was to explore strategies traditional residential real estate managers use to compete with e-commerce real estate managers. The study population comprised traditional real estate office managers in western Nebraska who had at least 5 years’ experience in developing successful e-commerce strategies and had sold a home in the past 5 years. I conducted a thematic analysis on the data collected via semistructured interviews and company documents. Four themes emerged from the analysis, including establishing and maintaining multiple e-commerce websites, regularly monitoring websites, establishing a visible presence on multiple e-commerce websites, and preparation to evolve as technology evolves. The study’s implications for positive social change include the potential for traditional residential real estate organization managers’ to develop and use new and useful strategies for overcoming barriers and effectively competing with e-commerce real estate organizations to remain competitive in the local economy through job creation, innovation, and competitiveness to sustain their businesses. Strategies for Real Estate Professionals to Compete With Internet Organizations by Jennifer J. Dorwart MBA, Chadron State College, 2007 BA, Chadron State College, 2004 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University December 2016 Dedication I dedicate this doctoral study to my husband, Dan, for pushing me to complete this degree. You have been my rock, motivator, supporter, and calming influencer throughout this bumpy process. I am forever grateful for your patience, understanding, and assistance with the housework and children while I sat in front of a computer for hours on end. Also to our children, Marion and Preston, may you never stop dreaming, playing, and learning. Mama’s computer is closed, let the fun begin! Finally, to my parents, especially my father, Dr. Rick Koza. I am in constant awe of your dedication to teaching others and your love for learning. You both exemplify determination and I thank you for your support and demonstrating a drive to always work harder and achieve more. Acknowledgments I want to thank my chair, Dr. Dusick, and the second committee member, Dr. Craig Martin. Their support and guidance through the DBA process was invaluable and I am honored to have been given the opportunity to work with them. A special thank you to Dr. Dusick for taking me under her wing in Atlanta. We met when I was frustrated, confused, emotional, and 6 months pregnant. I was close to walking away from it all but chose to sit at your table. Working with you has been a dream come true and I owe a great deal of gratitude to you for your patience, expertise, and assistance through the doctoral study process. I wouldn’t have finished without you!