Gomez/PikeNet Technology Survey Report - Part 1

Gaining Ground on the Internet... Gomez Advisors and PikeNet recently compiled results from our joint online technology survey of the Dispatch readership.  Highlights are presented in this first of a two-part series.  Real estate e-commerce is achieving traction -- albeit in specific areas of online activity.

Computer Literacy and Connectivity Is High... The demographics of the Dispatch survey respondents reflected a very seasoned and mature cross-section of the industry.  Most of the major service providers, developers and REITs were represented.  76% of the respondents were over the age of 35 and 66% had more than eleven years of professional experience.  What was surprising was the corresponding level of technology usage given the seniority statistics -- little validity for the industry's  "dinosaur" reputation.  Over 78% check their e-mail hourly, 78% have fast workplace connectivity (over 700 kbs), 75% regularly use a company intranet, 68% utilize a laptop, and 57% employ a PDA.   Internet search and use skills are there!

Approaching Mainstream Adoption... Three areas of web services showed substantial market penetration.  Survey respondents reported that 68% regularly use online real estate news sites, 62% search property listings information, and 57% access research and demographic sites.  When drilling further into the property listings space, the leasing and investment brokerage sector showed very high usage rates -- with 85% frequently conducting searches for property data and 82% using these online listings sites to market buildings.  In contrast, low adoption levels surfaced with only 15% utilizing 3D virtual technology, 13% with transaction management sites, and just 12% using web-enabled lease administration.    Furthermore, Internet business development to generate new leads showed very nominal progress beyond these low percentage ranges.

Drivers for Demand... Interestingly, the survey illuminated the fact that the single largest motivator for using online services is the desire to save time and increase efficiency.  Client demands ranked second as far as what drives technology adoption.  Focus on cost savings, as well as pressures to stay abreast with competitors, received less than 10% of the votes.   Clearly, e-commerce providers need to hone their marketing messages to emphasize tangible streamlining capabilities -- not necessarily dollar savings. (To be continued)

-- Eileen Circo