A Study on the Business Models and Competitive Strategies of the Real Estate Portals in Korea

국내 부동산포탈 사이트의 비즈니스 모델과 경쟁전략에 관한 연구

The real estate portal has grown into a successful e-Business model that is combined on and off line. Although IT technologies have shown rapid growth, the real estate portals have failed to satisfy the expectations of the Internet users. Based on Michael Porter's competitive forces framework, this study proposes five competitive strategies for continuing growth of the real estate portals. First, to strengthen bargaining power against supplier, buyer and potential new entrants, the real estate portals need to construct a basic network that is cost efficient and maintains real estate goods and makes profits by collaborative deals. Second, strengthen brand value and endeavor to escape from dependency on the Internet portals. Third, develop services to consider changed circumstances and give a lot of sources to make profit to real estate agencies. Fourth, concentrate on marketing to draw in the Internet users and adapt strategies that have been successful in other fields. Finally, real estate fields can seek out ideas for developing new business models from other successful e-Business models and should benchmark them to reduce expenses to a minimum and increase benefits to a maximum.