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In the real estate market of today, real estate development firms need professionals with sharper marketing technological expertise to successfully execute their organizations marketing strategy in this hypercompetitive market (Kraus, Harms, & Fink, 2010; Lei, 2014). The rapid development and improvement of big data, data mining, cloud computing, and other technologies has provided many emerging technologies to the potential benefit of real estate market (Yan & Ren, 2021). However, the technological impact on real estate applications and investing constitute more automated services and less on human interaction (Worzala et al., 2021). Consequently, causing real estate development firms to face the dilemma of changing to incorporate technology or suffer for lack of adaptation (Yan & Ren, 2021; Worzala et al., 2021). In recent years, technology advances have dramatically changed the way consumers receive information putting more pressure on businesses to revolutionize its position (Gibson, 2018).
The economy within real estate is built on trust (Kubasova, Troitskaya, & Gladkova, 2021). The main sources of the real estate advance are the use of digital platforms to obtain long-term solutions (Kubasova et al., 2021). According to Porter (1980), organizations need to develop leaders to improve operations. Leaders must learn operative strategies to conserve or salvage a competitive position among competitors (Porter, 1980). Porter (1980) classifies a competitive position as the place in which a company positions itself in comparison to its competitors. Porter’s (1980) perspectives put the value of an organization’s ability to create competitive advantage strategies in ways that positively influence the market. These influences correlate to the real estate market as real estate development firms seek to differentiate themselves in their external hypercompetitive environment in relation to their competitors.
Marketing experts understand the importance of establishing a brand. Branding plays a significant role in real estate development to effectively execute the marketing plan in the marketplace (Hoppner, 2010). Therefore, further inquiry needed to understand the essential technical core competencies within the marketing profession. Tofton and Hammervoll (2013) explained that experts and scholars postulated about organizational talent management challenges consisting of not having enough employees with expertise critical to the niche marketing execution of the business strategy. The primary issue derived from real estate marketing professionals lacking the resources and knowledge to meet the demands of consumers who seek to purchase real estate during traditional work hours. This is even more so given the use of social media, which changed traditional marketing practices for independent real estate development firms (Gravatt, 2016; Gibson, 2018).