Title

Australia's Online Property Auction Site

Publication Type

Case

Publication Date

8-2008

Abstract

Property Co was founded in Australia in July 1991 to manage industrial estates for tenancy and maintenance matters. The company managed approximately 4,000 industrial tenanted properties. Property Co’s online auction site was an example of a successfully designed customer-centric IS application because the entire design process focused on the aim of developing customer-centric capability. The transformation from a traditional bidding system to the new online auction system resulted in time savings, enhanced service quality and generated major financial benefits such as reduced loss of revenue due to vacant premises. The rapid turnover of vacant units translates into early realization of rental revenue, conservatively estimated at AUD$14 million per annum. In addition, the project achieved positive Return on Investment (ROI) within 13 months of its set-up.

Keywords

Industrial property, Real estate, online auction, customer centric, information system application

Discipline

Accounting | E-Commerce | Real Estate

Research Areas

Accounting Information System

Publication

Asian IT Case Series

Publisher

National University of Singapore, School of Computing

City or Country

Singapore