Opinion Leaders in Real Estate Markets

Abstract

The purpose of this research paper is to examine the influence of opinion leaders in real estate markets. First, we provide a literature review of opinion leaders and real estate markets in India. Secondly, the variables that influence the opinion leaders are established and their measurement is well defined. Thirdly, a survey has been conducted by using a self-administered questionnaire, which was sent to 234 individuals who are responsible for handling real estate firms. The research model is empirically tested in a sample of 128 respondents by using a chi-square analysis. This study finds that opinion leaders in real estate markets possess significantly higher levels in exposure to media sources, social involvement, product knowledge, innovativeness, and computer usage than non-leaders. Opinion leaders also possess a higher degree of social networking and have used the internet more frequently for longer sessions than non-leaders. Finally, we identify the key implications, conclude the research finding and explore potential avenues for future research.