🪜2) Real Estate Platform Service Issues

Real estate platforms provide users with property information and facilitate buying, selling, and renting transactions, but they also face several service-related challenges. These issues arise from technical, operational, legal, and user experience perspectives, potentially hindering successful platform operation and user satisfaction.

1] Data Accuracy and Reliability Issues

- Inaccurate Listing Information

• False Listings:Many real estate platforms encounter issues with false listings or properties that have already been sold but remain listed. This confuses users and undermines platform credibility.

• Current State:Agents or individual sellers often post false information or exaggerate prices and property conditions to attract attention. Additionally, properties may remain listed after being sold, wasting users’ time and effort.

- Delayed Updates

• Lack of Real-Time Information:Real estate transactions move quickly, and if listing information is not updated in real-time, users may miss opportunities.

• Current State:Some platforms experience delays in updating listings, with sold properties still shown as available, which can lead to user dissatisfaction.

- Data Consistency Issues

• Inconsistent Property Data:Data collected from various sources may not match, or the same property may be listed multiple times with differing details.

• Current State:Due to a lack of data compatibility and integration across platforms, multiple prices, sizes, and conditions for the same property often appear, making decision-making challenging for users.

2] User Experience Issues on the Platform

- Complex User Interface (UI/UX)

• Complicated Search and Filter Features:Many platforms offer complex or unintuitive property search functions, making it difficult for users to find the properties they want.

• Current State:When filtering by region, price, size, and other conditions, too many options or incorrect search results may appear, diminishing user experience.

- Excessive Advertising and Marketing Content

• Overexposure to Ads:Real estate platforms often rely on ad revenue, but excessive ads can disrupt the user experience. Pop-ups, banner ads, and sponsored listings can become intrusive.

• Current State:Some platforms excessively emphasize ad exposure, making it hard for users to find relevant listings.

- Lack of Mobile Optimization

• Inconvenience on Mobile:Many users search for property information on mobile devices, but some platforms are not optimized for mobile, with slow page loading and poorly designed interfaces.

• Current State:Mobile users expect a fast and intuitive experience, but some platforms are designed mainly for desktops, causing inconvenience on mobile devices.

3] Transparency and Trust Issues in Transactions

- Reliability of Agent and Seller Information

• Lack of Verification for Agents and Sellers:When agents or sellers on a platform are not verified, users may fall victim to scams or inaccurate information.

• Current State:Many platforms fail to thoroughly verify agent qualifications or transaction history, leading to user distrust.

- Inefficiency in Transaction Processes

• Complicated Contract Processes:Even if users find a property and connect with an agent on a platform, actual transactions often still rely on traditional methods, with lengthy and complex contract processes.

• Current State:Since the process from finding a property to completing a contract is not streamlined online, users often face additional steps offline. Smart contracts and automated transaction processes are lacking.

- Fraudulent and Unethical Transactions

• Fraudulent Listings:Some platforms host fraudulent listings, with sellers attempting to transact properties they do not own, causing significant financial losses for users.

• Current State:Insufficient identity verification on platforms allows malicious sellers to post fraudulent listings. Risks increase when substantial deposits or advance payments are requested.

4] Legal and Regulatory Issues

- Lack of Legal Regulations

• Lack of Platform Regulations:Many platforms operate without legal oversight and are often not accountable for issues arising from transactions on the platform.

• Current State:In some countries, real estate platforms are not considered intermediaries, allowing them to avoid responsibility for transaction-related issues, which may leave users without legal recourse if they suffer losses.

- Insufficient Consumer Protection

• Lack of Consumer Protection Systems:Given the high-value nature of real estate transactions, consumer protection measures are essential, but some platforms lack adequate protection.

• Current State:Users may face unclear policies regarding contract cancellation, brokerage fees, or responses to fraud. Platforms often fail to provide adequate support in the event of legal disputes.

5] Technical Issues

- Security Issues

• Risk of Data Breach:Real estate platforms handle sensitive information (name, address, financial data), making security crucial. However, some platforms do not invest enough in security, increasing the risk of hacking and data breaches.

• Current State:If a platform is hacked or user data is leaked, personal and financial information may be exploited.

- System Stability

• Server Problems and Access Instability:High traffic can lead to server overload, causing access instability or service outages. Platforms can crash when high-demand listings are posted.

• Current State:Platforms unprepared for high traffic may experience service interruptions or slow speeds due to server overload.

6] Economic Issues

- Excessive Brokerage Fees

• User Discontent with Brokerage Fees:In cases where platforms connect users with agents, users may still face high brokerage fees, which some consider excessive.

• Current State:Many platforms follow traditional brokerage fee structures, failing to deliver the cost-saving benefits users expect from digital platforms.

- Platform Usage Costs

• Burden of Paid Services:Some premium features on real estate platforms (e.g., listing promotion, additional information) are paid, which may add extra costs for users.

• Current State:Some users expect free services, but are dissatisfied to find that paid options are required for effective property transactions.

Real estate platforms offer the convenience of digitalized real estate transactions, but data reliability, user experience, legal protection, security, and transaction transparency issues can cause user dissatisfaction. To address these issues, efforts are needed to provide real-time data updates, user-friendly interfaces, enhanced transaction security, improved legal regulations, and transparent fee structures. Technological advancements and reliable operational practices are crucial for platform development and user trust.