Business Technology Strategy for a Major Real Estate and Mortgage Brokerage Company

Business Technology Strategy for a Major Real Estate and Mortgage Brokerage Company

Charlton Monsanto (Villanova University, USA) and Stephen J. Andriole (Villanova University, USA)
Copyright: © 2010 |Pages: 11
DOI: 10.4018/jitr.2010070104
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Abstract

RealProp1 is a large real estate and mortgage brokerage that’s at the forefront of the emerging digital real estate industry. For many years, the company maintained an in-house technology staff, but more recently it sought new leadership to accelerate its digital investments and to explore alternative sourcing models. In this regard, the company plans to respond to new challenges that the industry is presenting as it evolves from a relatively predictable transaction model to one increasingly defined by the Internet. A phased strategy was developed that first stabilized the existing technology environment and then more strategic technology investments were made.
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Introduction

There's a long history of analysis of the real estate industry (Hanrahan, 1993; Haurin, 1988; Hughes, 1995; Jud, 1983; Jud, Seaks, & Winkler, 1996; Larsen & Park, 1989) and the application of technology to the business processes and models that today constitute the real estate business (Andriole, 2006; Anglin, 1997; Benjamin & Chinloy, 1995; Kabatim, 1996; Klein, Reilly, & Barnett, 2004; Peskin, 2009; Rodriquez, Lipscomb, & Yancey, 1996; Royal, 1995; Turnbull & Sirmans, 1993).

This research provided a backdrop to the RealProp business technology strategy development. The RealProp executives adopted the following approach and made the following assumptions to the development of their business technology strategy (Figure 1):

Figure 1.

The layers of focus

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