A recent IREM (Institute of Real Estate Management) online survey indicated that more than 50 percent of respondents have a high confidence in purchasing online through exchanges. The survey also revealed that real estate managers are willing to give “e-marketplaces a bigger shot” in the next year.
Thirty percent of respondents indicated they will purchase 10-15% of their goods and services online next year while 40 percent said their online purchases would be in the 15-25% range. The IREM survey respondents, members of the property management community, cited convenience (50%) and cost (30%) as major reasons for using online exchanges for purchasing.
With the real estate industry spending a reported $300 billion a year just on basic goods and services to operate their properties, B2B exchanges are big business. Cost and time efficiencies in a process that traditionally have been manual and expensive, are the key advantages of online procurement. For further information visit www.irem.org.
