Real Estate Your Way - Free Essay Example

Real Estate Your Way Project Requirement From the Real Estate Your Way case, the project is mainly about offering the assurance to the potential investors and let them continue to operation even if there is no the present of the key persons, this can make sure that the purchasers and the vendors could continue to make transactions and get what they need. This project is important and meaningful as this website basically save the time of venders and also help them to save a large amount of commission fee. When this project is completed successfully, the ways of doing transactions are becoming more easy and convenient and efficient, both of venders and purchaser could benefit from this website. Under the control of Michael Forry, who is the CEO of this website and also specialize in the large scale IT projects and business management in the commercial and government sectors, the project, ‘Commercial in Confidence’, would be successful and would be b eneficial to the development of real estate market. Required information This case mentioned that the real estate market is growing sharply and the original real estate is collecting a large amount of commission fee from the vendors, which usually is complained by the vendors. Under the development of information technology, Michael Forry found that setting one website about the exchanges of houses and lands would fulfill the need of people as this could save their time and money, provide home loans and quite useful and helpful advice to purchase and sell the properties. Currently, this website works very but, but this website is going to develop in a better way, and hopes to make transactions for people easily, even if there is no the presence of the key persons and the transactions without key things will not be discontinued. However, under the requirement of Real Estate Your Ways, there is a large amount of information that would be needed to address this case. First of all, One comprehensive Digital Media Strategy and Marketing Strategy is needed and be used to assess and check and select which channel is the most effective and which channel is the most costà ¯Ã‚ ¼Ãƒâ€šÃ‚ efficient marketing channel, this process would be complicated. Furthermore, this process needs the related references that include the costing and marketing data, and also needs the proposed implementation plan with timelines, resources and related skills, measurable KPI’s. Above things are some of things that be needed to collect. In the second place, when one website is going to be popular, and it would need the support of the social media, and these social media, such as the TV advertisements, Facebook, and Twitter, are good ways to tell the public the quite useful, money-saving and time-saving website. Under the help of the social media, the transaction amount would be increasing sharply. Whether this idea is successful or not mainly depends on the level of in teraction between the REYW social media page and the Australian Community over a period of 6 months. When they have deeper interaction, the level would be higher than expected level, on the contrary, the level would be lower than expected level, so the interaction between them is quite important. It is true that the media sites help Real Estate Your Way website to become popular in Australia. Certainly, the social media usually has the data that calculate and measure the ‘reach’ and ‘engagement’ and check whether this task is successful or not. So the report is one of things that be needed to collect. In the third place, this thing is the last but not the least. Marketing researches in other markets, such as America, New Zealand, UK and United States are needed. The marketing research could tell the investors of the website, Real Estate Your Ways, the possible outcome of setting this type of website, and also could allow the investors of this website to consider the strategies to operate this website more successfully and efficiently. There are several ways to do this research, such as logging in to other property websites and recording the transaction ways and total amounts each month and each year and the transaction ratio of public sold to real estate agent sold property and land. In addition, some information should be collected from the banks and other financial institutions. Certainly, the best way to collect these useful data and results should be for free, which could be money saving for the client. All in all, the information including the assessment of marketing channels, the castings and marketing penetration data, the selection of the social media, and the market research in the real estate markets in other countries. Sources of related information There are many sources of related information, and these information would be important to the investors of the website and this will have a significant on the devel opment of the website. In order to help the investors to make the website more popular and more efficient, the following sources of information are needed. And also the model of testing the sources of information that would be used is called PESTLE, political, Economic, Sociological, Technological, Legal and Environmental factors. In the first place, the political factor that is related to the case is that the related governments, regulations and laws and taxes would have a significant development on the development of real estate market. Each government policy and requirement would affect the demand for the properties and the prices of houses and lands. The second factor that would be important is the economy of Australia. This factor is quite important, as it really affect the demand for the property. When the economy is boosting, the more purchaser would care more about the property market and tend to purchase the ideal house, and also the vendors could sell their houses at an expected price. And vise visa. The three important data, GDP, unemployment rate and the inflation rate, represent the current status of economy. The website could make reports to the vendors and purchasers by basing on the important data. The third important factor is that sociological factor. One assessment about the sociological factor on real estate is necessary. This factor generally includes the population trends, family composition, and the evolution of home offices. It is true that Australian is an immigrated country, which means that ever year more and more people from other countries would move to Australia, then the population is increasing, this generally means the demand for the houses would have a positive relationship with the population. The fourth factor that needs to be considered when collecting the information is the technological factor. This website is the main way for the vendors and purchasers to sell their extra houses and buy the suitable houses. W hen the technological information is refreshing, the Real Estate Your Ways should follow the changes and provide the customers with best services and make their purchasing and selling process become more and more simple and they can complete their transactions within short period. Legal factor is the last second one. This factor will affect the real estate markets significantly. The legal problem related to the website is that whether the website could help the purchasers buy a lawful house and help the vendors to sell the houses with lawful process. The related property contract are very long enough, and every piece in the contract will affect the whether the contract is legal or not. Therefore, the Real Website is required to comply with the contracts. Environmental factor is the last but not the least factor. The surrounding of one property will decide the value of the house, even if same land area but different surroundings. When the house is near the station and has good natural scenery around it, the value of the house would be higher than a house in a remote area. In order to clearly identify the client requirement, following questions could be asked. Is the website, Real Estate Your Ways, responsible for the accidental things about the houses, for example, the house is damaged because of the poor quality of building construction, when after completing the transactions? Any measures are taken to make sure the privacy of the vendors and the purchases, because the website is opening to all the public? What is the main way to make profit, as there is no commission fee for the vendors? Could the profit of the stakeholders be assured? Skills and Discipline Knowledge This project gives me one chance and allows me to apply my discipline knowledge to a real-world context. Before I did not have many opportunities to have access to this real-world context. This time, Real Estate Your Ways is an excellent way to let me know how to put the t heory into practice. My major is Finance and also did management diploma before. I can combine the knowledge into this subject. The management mainly focus on how effectively and efficiently finish the group tasks on time. Also the finance mainly concentrates on how to make maximum profit with lowest risks. Certainly, I have enough ability to combine these knowledge into this subject, and in the group assignment I could lead my team members to work out the solutions together successfully by organizing, planning and allocating the tasks. Financial knowledge allows me to reduce the risks and consider different potential risks from environment, political and international trade. The audit skills that I have are that I could analyse the data that I collect from the related business reports and give some advises by basing on the data. Basing the data, the gap between the outcome and the benchmark could be revealed; I could prove that where the training is needed. For example, th e gap let me know the list of people that need to be trained and could be development, this will benefit the development of one organization. Furthermore, when without the information, the organization will do not know what should be improved. In the Real Estate Your Owns, the information analysis and the gap between the outcome and benchmark will shows what the organization should do, and who should be given special training. All in all, I am confident as well. And I would bring my all advantages and skills into the project. Appendix Personal learning Development Plan: Learning goals: as a student in the year 3, I am not only planning to develop my theoretical knowledge, but also I hope I could exercise myself to have more experience that is related to the real world. It is true that preparing myself for the real world is complicated and challenging, and this is the goal that I have. There are some ways that I am planning to do in the next few months. Firstly, I will start to read one book that is related to human resources management each month, as I believe that owing enough theoretical knowledge is the basic factor when enter into the real world. About this subject and other important subjects, I must finish them on time and discuss them with my group mates and my tutors, as I believe that discussion is a good way to gain much more knowledge. Before every tutorial, I will read the tutorial notes in advance and prepare some questions and discuss these questions in the class. In order to finish my plan, I have already made a timetable for every week, and I try to go to library for 10 hours at least each week, and I would spend nearly 6 hours in each subject. In the group assignment, I will try to be the team leader and I think this is a good time to challenge myself and I believe I can lead my team members to complete the assignments on time with good results. The challenges that I may face: I could say that challenges are the ways to motiv ate me to make progress and to be stronger than before. The biggest challenge in my study would be time management. Although I have planned the timetable for each week, I am afraid that I could do as I planed. For example, I require myself to go to the library each week and study at least 10 hours. I think it is hard for me to persist throughout the semester. However, during these weeks, I did as I planed. How to measure success: the first way to measure success is that whether I did as I planed. Recent weeks, I believe I did as I planed, so I think I really achieve it successfully. The second way to measure success is that whether I finish my assignments in advance. Finishing assignments in advance means that I can have more time to fix my assignments and I can have more opportunities to get good results. The third way is that whether I am the team leader. Before, I did not try to be the team leaders and I was just a good follower. Now I decide to be the team leader in the group assignment, I would challenge myself.