The Impact of New Information Technologies on the Commercial Brokerage Industry: Phase II: E-Business Initiatives in the Commercial Brokerage and Listing Space

Joseph Gyourko and Asuka Nakahara

Zell/Lurie Center Working Papers from Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania

Abstract: This report summarizes the state of activity in the on-line commercial brokerage and listing spaces by reporting on the sites of over two dozen existing and prospective companies.

The sites analyzed represent a broad array of ideas and concepts. Most efforts are focused in the listings area. Whether these firms survive as independent entities or are merged into more traditional companies, it seems clear that that the development of the World Wide Web has changed the efficiency with which that part of the brokerage process is conducted. Fewer firms are focused on conducting transactions electronically. However, there are a small number of efforts being made not only to effect transactions on the Web, but to impact the entire supply chain in real estate brokerage. The first sign of a distinct discount brokerage model also is apparent in our review. Given how important this development was for e-businesses in the stock brokerage sector, it bears close scrutiny going forward.

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