E -business is shifting the competitive ground in the commercial real estate industry.
Executives offer widely divergent explanations.
Some recognize its importance, but lose out to other departments for IT funding. Without a direct and immediate impact on revenues, some entrepreneurial businesses have trouble justifying the expenditure. Corporate real estate departments are being challenged to identify and secure real estate assets that support broader corporate e-business objectives. They are, in turn, meeting these growing demands by accessing systems and information available on Internet-based real estate portals. Facing the threat of disintermediation, commercial real estate brokerage firms are following the example of the residential sector by using the Internet to deliver information and services of genuine value to their customers.