Abstract
Malaysia’s real estate industry is undergoing its digital transformation as COVID-19 takes effect. Both forms of physical property transactions have been digitalised, which prompted many opportunities for the sector. In response, the real estate industry acts as an enterprise that provides more streamlined offerings to buyers than ever before. Much of the digital technology has offered new opportunities to realty business to target specific market segments such as millennials who have a unique characteristic compared to other generations. However, few studies have investigated this area concerning the millennials. Thus, this study examines the intention to use the digital real estate platform among millennials in Malaysia by utilising the Stimulus-Organism-Response (S-O-R) model as the guiding principle. Partial Least Squares-Structural Equation Modelling (PLS-SEM) approach was employed to test the hypotheses. The effectiveness factor strongly influenced millennials’ intention to use the digital real estate platform because they believed that by using the technology, the real estate platform would be free of effort and enabled them to save time when making important decisions whether to purchase or rent any of the real estate product or services. Digital technology also allows millennials to search at their pace and convenience, learning a great deal about the property and related issues before they begin any actual negotiations. The findings highlight several factors that substantially affect millennial consumers’ intention to use the real estate platform. Suggestions for further study are also discussed.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Ahuja, M., Gupta, B., Raman, P.: An empirical investigation of online consumer purchasing behavior. Commun. ACM 46(12), 145–151 (2003)
Baen, J., Guttery, R.: The coming downsizing of real estate: Implications of technology. J. Real Estate Portfolio Manag. 3(1), 1–18 (1997)
Bardhan, A.D., Jaffee, D., Kroll, C.: The internet, e-commerce, and the real estate industry (2000)
Bell, H., Tang, N.K.: The effectiveness of commercial Internet Web sites: a user’s perspective. Internet Research (1998)
Boonsiritomachai, W., Sud-On, P.: Increasing purchase intention and word-of-mouth through hotel brand awareness. Tourism Hosp. Manag. 26(2), 265–289 (2020)
Chang, M.L.D., Suki, N.M.: Understanding consumers intention to use online property websites: a conceptual model. Labuan Bull. Int. Bus. Finan. (LBIBF) 17, 139–146 (2019)
Chin, W.W.: Overview of the PLS Method (2018). http://plsgraph.com/
Chin, W.W., Marcolin, B.L., Newsted, P.R.: A partial least squares latent variable modelling approach for measuring interaction effects: results from a Monte Carlo simulation study and electronic-mail emotion/adoption study. Inf. Syst. Res. 14(2), 189–217 (2003)
Chin, W.W.: The partial least squares approach to structural equation modelling. Mod. Methods Bus. Res. 295(2), 295–336 (1998)
Chen, Q., Clifford, S.J., Wells, W.D.: Attitude toward the site: new information. J. Advert. Res. 39(5), 28–38 (1999)
Chen, C.C., Yao, J.Y.: What drives impulse buying behaviours in a mobile auction? The perspective of the stimulus-organism-response model. Telemat. Inform. 35(5), 12491262 (2018)
Choi, Y.: Technology acceptance model and stimulus-organism response for the use intention of consumers in social commerce. Int. J. E-Bus. Res. (IJEBR) 15(2), 93–101 (2019)
Clarke III, I.: Emerging value propositions for m-commerce. MIS Q. J. Bus. Strat. 25(2), 319–340 (2008)
Davis, F.D.: Perceived usefulness, perceived ease of use, and user acceptance of information technology (1989)
Dailey, L.: Navigational web atmospherics: explaining the influence of restrictive navigation cues. J. Bus. Res. 57(7), 795–803 (2004)
Del Giudice, V., De Paola, P., Del Giudice, F.P.: COVID-19 infects real estate markets: short and mid-run effects on housing prices in Campania region (Italy). Soc. Sci. 9(7), 114 (2020)
Dholakia, U.M., Rego, L.L.: What makes commercial Web pages popular? An empirical investigation of Web page effectiveness. Eur. J. Mark. (1998)
Durkaya, B.: Examining the helpfulness of online customer reviews based on review related factors: the moderating effect of product type (Doctoral dissertation, Institute of Science and Technology) (2020)
Dyana, M.L., Hamid, R., Lajuni, N., Suki, N.M.: What drives consumers intention to use online property websites: a conceptual model. J. Soc. Sci. Res. 630–633 (2018)
Dyana, C.M.L., Suki, N.M., Lajuni, N., Hamid, R.: Towards industry revolution 4.0 practice: millennial’s intention to use online property websites by applying the Stimulus-Organism-Response (SOR) model. Int. J. Supply Chain Manag. 8(4), 1032–1038 (2019)
Edmunds, R., Thorpe, M., Conole, G.: Student attitudes towards and use of ICT in course study, work, and social activity: a technology acceptance model approach. Br. J. Edu. Technol. 43(1), 71–84 (2012)
Ettis, S.A.: Examining the relationships between online store atmospheric colour, flow experience and consumer behaviour. J. Retail. Consum. Serv. 37(2017), 43–55 (2017)
Hair, J.F., Hult, G.T.M., Ringle, C.M., Sarstedt, M., Thiele, K.O.: Mirror, mirror on the wall: a comparative evaluation of composite-based structural equation modelling methods. J. Acad. Mark. Sci. 45, 616–632 (2017)
Hair, J.F., Sarstedt, M., Ringle, C.M., Mena, J.A.: An assessment of the use of partial least squares structural equation modelling in marketing research. J. Acad. Mark. Sci. 40(3), 414–433 (2012)
Hamzah, A., Yazid, M.F., Shamsudin, M.F.: Post Covid-19: what next for real estate industrial sector in Malaysia? J. Postgraduate Curr. Bus. Res. 1(1) (2020)
Harun, A., Husin, W.H.R.: Is the purchasing behavior of suburban millennials affected by social media marketing? Empirical Evidence from Malaysia (2019)
Hoffman, D.L., Novak, T.P.: Flow online: lessons learned and future prospects. J. Interact. Mark. 23(1), 23–34 (2009)
Hoffman, D.L., Novak, T.P., Peralta, M.: Building consumer trust online. Commun. ACM 42(4), 80–85 (1999)
Hsu, C.L., Lu, H.P.: Why do people play online games? An extended TAM with social influences and flow experience. Inf. Manag. 41(7), 853–868 (2004)
Hsu, C.L., Chang, K.C., Chen, M.C.: Flow experience and internet shopping behavior: investigating the moderating effect of consumer characteristics. Syst. Res. Behav. Sci. 29(3), 317–332 (2012)
Huizingh, E.K.: The content and design of web sites: an empirical study. Inf. Manag. 37(3), 123–134 (2000)
Joia, L.A., Gutman, L.F.D., Moreno, V., Jr.: The intention of use of home broker systems from the stock market investors’ perspective. J. High Technol. Managem. Res. 27(2), 184–195 (2016)
Klassen, R.D., Whybark, D.C.: Environmental management in operations: the selection of environmental technologies. Decis. Sci. 30(3), 601–631 (1999)
Kim, Y.: Cultural difference in motivations for using social networking site, a comparative study of American and Korean college students. Comput. Hum. Behav. 27(1), 365–372 (2011)
Koufaris, M.: Applying the technology acceptance model and flow theory to online consumer behaviour. Inf. Syst. Res. 13(2), 205–223 (2002)
Kurniawati, N.: Creating low-cost animation video using online platform: a learning media user review. Jurnal Pendidikan Kedokteran Indonesia: Indonesian J. Med. Educ. 9(1), 26–31 (2020)
Lim, I.: Reality for Malaysia’s university students: online learning challenges, stress, workload; possible solutions for fully digital future until Dec (2020). www.malaymail.com
Lin, J.-J., Chung, X.-J., Yang, C.-Y., Lau, H.-L.: A meta-analysis of trials using the intention to treat principle for glutamine supplementation in critically ill patients with burn. Burns 39(4), 565–570 (2013)
Lee, S.M., Chen, L.: The impact of flow on online consumer behaviour. J. Comput. Inf. Syst. 50(4), 1–10 (2010)
Marjerison, R.K., Hu, Y.A.: Exploring the impact of peer influence on online shopping: the case of Chinese Millennials. In: Quality Management for Competitive Advantage in Global Markets, pp. 196–210. IGI Global (2021)
Mazaheri, E., Richard, M.O., Laroche, M.: The role of emotions in online consumer behavior: a comparison of search, experience, and credence services. J. Serv. Mark. 26(7), 535–550 (2012)
Mehrabian, A., Russell, J.A.: An Approach to Environmental Psychology. The MIT Press (1974)
Michaelidou, N.: Usage, barriers and measurement of social media marketing, an exploratory investigation of small and medium B2B brands. Ind. Mark. Manag. 40(7), 1153–1159 (2011)
Ni, A.Y., Ho, A.T.K.: Challenges in e-government development: lessons from two information kiosk projects. Gov. Inf. Q. 22(1), 58–74 (2005)
Park, S.Y., Nam, N.W., Cha, S.B.: University students’ behavioural intention to use mobile learning: evaluating the technology acceptance model. Br. J. Edu. Technol. 43(4), 592–605 (2012)
Peterson, S., Bredow, T.S.: Middle Range Theories: Application to Nursing Research and Practice. Lippincott Williams & Wilkins (2019)
Rangaswamy, A., Moch, N., Felten, C., van Bruggen, G., Wieringa, J.E., Wirtz, J.: The role of marketing in digital business platforms. J. Interact. Mark. 51, 72–90 (2020)
Richard, M.O.: Modelling the impact of internet atmospherics on surfer behavior. J. Bus. Res. 58(12), 1632–1642 (2005)
Ringle, C.M., Wende, S., Becker, J.M.: SmartPLS 3.2.7 (2015). http://www.smartpls.com. Accessed 4 Feb 2017
Shin, J.I., Chung, K.H., Oh, J.S. Lee, C.W.: The effect of site quality on repurchase intention in Internet shopping through mediating variables: the case of university students in South Korea. Int. J. Inf. Manag. 33(3), 453463 (2013)
Suki, N.M., Lajuni, N., Hamid, R.: Towards industry revolution 4.0 practice: Millennial’s intention to use online property websites by applying the Stimulus-Organism-Response (SOR) model. Int. J. Sup. Chain. Mgt. 8(4), 1032 (2019)
Teo, T., Fan, X., Du, J.: Technology acceptance among preservice teachers: does gender matter? Australas. J. Educ. Technol. 31(3), 235–251 (2015)
To, W.M., Lai, L.S., Leung, V.W.: Technology acceptance model for the intention to use advanced business application software among Chinese business school students. Australas. J. Educ. Technol. 34(4), 160–173 (2019)
To, W.M., Tang, M.N.F.: Computer-based course evaluation: an extended technology acceptance model. Educ. Stud. 45(2), 131–144 (2019)
Verhagen, T., Van, D.W.: The influence of online store beliefs on consumer online impulse buying a model and empirical application. Inf. Manag. 48(8), 320327 (2011)
Venkatesh, V.: Determinants of perceived ease of use: integrating control, intrinsic motivation, and emotion into the technology acceptance model. Inf. Syst. Res. 11(4), 342–365 (2000)
Wright, K.B.: Researching internet-based populations: advantages and disadvantages of online survey research, online questionnaire authoring software packages, and web survey services. J. Comput.-Mediated Commun. 10(3) (2005)
Zhao, L., Lu, Y., Wang, B., Huang, W.: What makes them happy and curious online? An empirical study on high school students’ Internet use from a self-determination theory perspective. Comput. Educ. 56(2), 346–356 (2011)
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2022 The Author(s), under exclusive license to Springer Nature Switzerland AG
About this paper
Cite this paper
Mui Ling Dyana, C., Hamid, R., Lajuni, N., Suki, N.M. (2022). Millennials’ Intention to Use Digital Real Estate Platform During the COVID-19 Pandemic: The Stimulus-Organism-Response Approach. In: Al-Emran, M., Al-Sharafi, M.A., Al-Kabi, M.N., Shaalan, K. (eds) Proceedings of International Conference on Emerging Technologies and Intelligent Systems. ICETIS 2021. Lecture Notes in Networks and Systems, vol 299. Springer, Cham. https://doi.org/10.1007/978-3-030-82616-1_45
Download citation
DOI: https://doi.org/10.1007/978-3-030-82616-1_45
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-030-82615-4
Online ISBN: 978-3-030-82616-1
eBook Packages: Intelligent Technologies and RoboticsIntelligent Technologies and Robotics (R0)