The real estate market is changing rapidly. The traditional method of having to do a lot of legwork to get a good property has evolved into an era where you can access a variety of real estate products online.

The most notable changes in the recent real estate industry structure are the development of the content industry and the commercialization of real estate information.

By expanding the offline real estate transaction market to online, real estate information is provided and related services such as moving and finance are provided in one stop. In addition, various attempts are being fiercely made to preempt the B2B and B2C markets through diversification of business areas.

The human resource structure is also changing. Advances in information and communication technology have eliminated many inefficient aspects of real estate services, thereby reducing the need for real estate service personnel.

Although it is a bit of an exaggeration, simple services that can be automated or processed in cyberspace, expensive and labor-intensive inefficient services and their workers will be eliminated, and only advanced, digitally armed professional services will grow.

According to an American study, 16 to 20 real estate service personnel were needed for a 20th century real estate transaction, but 4 to 5 people are enough for a 21st century digital real estate transaction.

The impact of the development of information and communication technology on the real estate market does not end here.

Changes in spatial properties, such as the reduction of the physical distance effect, separation and functional integration of logistics and upstream (commerce) flows, selective concentration and dispersion effects, and the development of network cities, bring about fundamental changes in the value formation structure of real estate.

As the fundamental foundation of real estate changes based on changes in spatial properties, the digitalization and digitization of the physical property of real estate itself becomes an important added value element.

The degree of digitalization is becoming an important determinant of real estate market value, which was traditionally determined by accessibility in real space. In other words, the concept of smart is becoming a basic attribute in real estate as well, in the form of smart cities, smart communities, smart industrial complexes, smart malls, smart offices, and smart homes armed with information and communication technology.

For example, Samsung C&T already built a home network in its Tower Palace, a commercial-residential complex, about 10 years ago and began providing commercial services such as home automation and remote control of information appliances. Now, the digitalization of housing products (electronic cottage), which is even more advanced than this, has become the basic trend.

In foreign countries, office space is also evolving into business real estate that provides an all-in-one package of services based on an alliance between building owners and information and communication service providers.

With the advent of the digital age, the work style is also fundamentally changing. There is a trend toward introducing telework centers that go beyond simple home-based telework.

A remote work center is a type of office facility that is located away from the central office and provides a traditional office environment to telecommuters for a certain fee.

Now, the informatization or digitalization of the real estate industry or real estate products themselves is no longer an option but a necessity.

A strategy is needed to develop high value-added real estate products based on differentiation of information elements. In addition, land development in the information society should be able to secure the identity of an information-based regional community that integrates online and offline spaces. 

Original link: http://www.newsway.co.kr/view.php?tp=1&ud=2014082608360674460