Research On The Market Selection Of Real Estate Network Platform

Real estate industry is one of traditional industries having the largest market size and occupies an important position in national economy.In recent years,as the macro economic growth had slowed down,the real estate industry also departed from the golden period of rapid growth.Therefore,real estate sales,second-hand housing sales,lease relating to real estate transaction are not smooth,and faced with high cost and inefficiency of traditional intermediary channel.At the same time,real estate network platform has set up a platform to interact with each other for bilateral users.Real estate network platform is able to improve information asymmetry problem,reduce the transaction cost,promote transaction efficiency,which shows great advantages and good prospects for development.In recent years,real estate network platforms are emerging in some of real estate industry segment markets.But the current research on real estate network platform mainly concentrated on the study of network marketing for real estate sales,profit model,user satisfaction,etc.There are few studies on how to choose target market of real estate network platform enterprises.Therefore,it is studed how to select target market according to the external factors,based on analysis of the characteristics of two-sided markets and Internet companies for real estate network platform enterprises.The main research contents and conclusions are as follows:(1)The real estate network platform and the market scope of current real estate network platform involves are defined.Then the characteristics of two-sided markets and Internet company of the real estate network platform were analyzed.According to the different types of platform business,the real estate network platform market is subdivided into land transaction service market,bidding service market,new housing service market,second-hand housing service market,housing rental service market,decoration services market and property community service market.(2)The profit maximization can't reflect the growth model of the real estate network platform,but enterprise value maximization is the goal.So the factors that affect the enterprise value maximization,determine the value of different market segments.Due to the traditional valuation methods do not apply to the estimate enterprise value of real estate network platform.On the basis of analyzing the classic Internet company valuation models and the empirical literatures,the conclusion that user number and user value are the most important factors of enterprise value of real estate network platform is obtained.Then the meanings of the two measures of real estate network platform enterprises are defined.Finally,estimate method of the two indicators in various market segments is explained.(3)Due to the real estate network platform connecting the bilateral user groups,the existence of network externality makes the market competition a big difference,comparing to the traditional market.Two-sided markets theory is introduced to study the competition of real estate network platforms.Through establishing economics model of platform competition,it is concluded that the indicators of the number of competitors,the user number of rivals and service quality of competitors affect the results of the competition in the market.(4)According to the above indicators combined,365 enterprise selects new and second-hand housing transaction markets in Nanjing as an example of market selection decision analysis.Three conclusions are obtained.Firstly,user value is one of the biggest impact index,followed by user number and service quality of rivals.Secondly,both of new and second-hand housing transaction market in Nanjing can be target markets.Finally,for real estate network platform enterprise,the former market segment is slightly better than the latter.