Overview

With the advent of Web 2.0, the Internet evolved from a rigid source of information into a kind of interactive, participatory medium. Networks are now seen as more than just a means of promoting a company's image; they also offer a platform for communicating with customers regardless of time and location, overcoming all micro and macro levels of interaction. New sales markets are being tapped into in a cost-effective and resource-saving manner, and old, outdated and inefficient work processes are being discarded. In urban contexts in particular, estate agents use tools such as Instagram and Snapchat to promote their properties quickly. Even after adjustment for GDP and the purchase price index, estate agents' sales are significantly higher than in Austria. Transactions via social networks are increasing significantly and currently account for 5% of their turnover and, together with the classic homepage, but always brought up to WEB2.0 standard, even 20% of turnover. The digital metamorphosis is advancing; will the market change through evolution or revolution? How are Austrian estate agents withstanding the pressure to innovate and when will they give in?

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