Page 378 - Emerging Trends and Innovations in Web-Based Applications and Technologies

International Journal of Trend in Scientific Research and Development (IJTSRD) @ www.ijtsrd.com eISSN: 2456-6470

• Cloud infrastructure for scalability and data storage.
Ø Key Technologies:
• Natural Language Processing (NLP) for user queries and property descriptions.

• Machine Learning (ML) models for predicting user preferences and market trends.
Components of the Research Model:
The research model for RealEstateConnect is structured around the core components that drive the platform's design,
development, and evaluation. These components ensure that the system meets stakeholder needs, achieves its objectives, and
delivers measurable benefits. The key components of the research model are as follows:

1. User Needs Analysis
Ø Objective: Identify and prioritize the requirements of buyers, sellers, renters, and real estate professionals.
Ø Key Factors:
• Preferences for property search and filters.
• Challenges in transaction processes (e.g., financing, documentation).
• Expectations for trust, security, and transparency.

Ø Methods:
• Surveys, interviews, and focus groups with stakeholders.
2. Platform Features and Functionality
Ø Core Features:
• Advanced property search and AI-driven recommendations.

• Integrated financial tools (e.g., mortgage calculators, rent payment systems).
• Secure document management and e-signature capabilities.
• Blockchain-based property record storage for transparency.

• Analytics dashboards for market insights and property performance.
Ø Evaluation Metrics:
• Feature adoption rates.
• User satisfaction with specific functionalities.
3. Security and Trust Mechanisms
Ø Objective: Ensure platform security and build user trust through transparency.
Ø Key Features:
• Blockchain for immutable records of transactions and property ownership.

• Multi-factor authentication for user accounts.
• Encryption for sensitive data, including financial and personal information.
Ø Evaluation Metrics:
• Number of successful and secure transactions.
• User perception of platform security.
4. Stakeholder Interaction and Engagement
Ø Objective: Facilitate seamless interaction among buyers, sellers, renters, and agents.
Ø Key Features:
• Communication tools such as secure messaging and live chat.

• Scheduling systems for property visits and virtual tours.
• Collaborative tools for agents and clients to manage transactions.
Ø Evaluation Metrics:
• Frequency of interactions on the platform.
• Feedback on communication tools’ effectiveness.
5. Financial Integration
Ø Objective: Simplify financing and payment processes for users.
Ø Key Features:
• Loan pre-approval and mortgage comparison tools.

IJTSRD | Special Issue on Emerging Trends and Innovations in Web-Based Applications and Technologies Page 368