E-commerce and real estate are two different worlds, but they are similar in many ways. Where websites are concerned, these worlds often intersect. The core factors that go into online stores also appear on national and local real estate websites. Here are seven examples.
1. Product Inventory
Product inventory is the key component of e-commerce. Online stores have products to sell, and website catalogs showcase their inventory. Homes are the main factor in real estate, and real estate websites feature catalogs of inventory — available homes, commercial properties or lots for sale.
2. Search Criteria
Like e-commerce products, homes and other real estate have unique attributes. Buyers compile a list of these features and use them as their search criteria. When they take an inventory of homes on the market, they can narrow the criteria to smaller sets that match what they are looking for.
3. Search Results
Based on their preferences, users of a real estate website can view results based on location, price, size and features. Some sites provide this information in a grid or map view, while others post a running list. Online shoppers can view search results in much the same way on e-commerce sites.
4. Search Filters
Online stores and real estate sites need filters for their search functions. This allows shoppers and home buyers to limit items in the search results. Filtering the results by price, size and other attributes makes it easier for people to find what the right product for their needs.
5. Search Interaction
Whether people want to buy shoes or a home, they need the ability to view large sets of data based on their search results. Online stores and real estate sites can entice buyers with clear and vivid photographs, detailed descriptions and key selling points. According to “Search Engine Watch,” dynamic content increases engagement and promotes sales.
6. Detailed Descriptions
The Internet is a visual world, and pictures are essential for e-commerce and real estate alike. However, realtors and entrepreneurs should not overlook the importance of detailed descriptions. Each product page — for a shoe, home or any product — should contain detailed data and a strong call to action. In e-commerce, this means giving customers an option to add the product to a shopping cart. In real estate, it means having the ability to contact an agent or schedule a showing.
7. Product Reviews
Reviews are important in the e-commerce and real estate worlds. E-commerce reviews generally pertain to the products that a store sells. In real estate, the reviews often revolve around a particular area or realtor.
A Few Final Thoughts
These seven similarities between e-commerce and real estate is a short list. Their websites are similar in many other ways. By browsing online stores and real estate sites, people can see other similarities. While each type of site has unique components that are not found on the other type, it is easy to see how real estate today mirrors e-commerce.