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Real estate 2.0 : towards a value ecology?

Collis, Christy & Salomon, Mandy (2010) Real estate 2.0 : towards a value ecology? In Record of Communications Policy & Research Forum 2010. Network Insight Pty Ltd, Sydney, NSW, pp. 57-71.

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    Abstract

    This paper anatomises emerging developments in online community engagement in a major global industry: real estate. Economists argue that we are entering a ‘social network economy’ in which ‘complex social networks’ govern consumer choice and product value. In the light of this, organisations are shifting from thinking and behaving in the conventional ‘value chain’ model--in which exchanges between firms and customers are one-way only, from the firm to the consumer--to the ‘value ecology’ model, in which consumers and their networks become co-creators of the value of the product. This paper studies the way in which the global real estate industry is responding to this environment.

    This paper identifies three key areas in which online real estate ‘value ecology’ work is occurring: real estate social networks, games, and locative media / augmented reality applications. Uptake of real estate applications is, of course, user-driven: the paper not only highlights emerging innovations; it also identifies which of these innovations are actually being taken up by users, and the content contributed as a result. The paper thus provides a case study of one major industry’s shift into a web 2.0 communication model, focusing on emerging trends and issues.

    Impact and interest:

    Citation countsare sourced monthly from Scopus and Web of Science® citation databases.

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    ID Code: 38893
    Item Type: Book Chapter
    Additional URLs:
    Keywords: digital communication, value ecology, real estate
    ISBN: 9780980434439
    Subjects: Australian and New Zealand Standard Research Classification > LANGUAGES COMMUNICATION AND CULTURE (200000) > COMMUNICATION AND MEDIA STUDIES (200100) > Communication and Media Studies not elsewhere classified (200199)
    Divisions: Current > QUT Faculties and Divisions > Creative Industries Faculty
    Current > Schools > Journalism, Media & Communication
    Copyright Owner: 2010 © Network Insight Pty Ltd
    Deposited On: 29 Nov 2010 12:38
    Last Modified: 01 Mar 2012 00:26

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