Page 589 - 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
Expected Contributions 5. Collaboration and Integration
A validated model for integrating advanced technologies in Stakeholder Participation: Number of active real estate
real estate. agents, legal professionals, and financial institutions using
the platform.
Insights into factors influencing user adoption and
satisfaction in digital platforms. Workflow Efficiency: Time and effort saved through
integrated tools for communication and documentation.
A roadmap for scaling RealEstateConnect to address global
real estate challenges. Interoperability: Ability to integrate with external systems,
such as government property registries and payment
By leveraging this research model, RealEstateConnect aims
gateways.
to establish itself as a transformative solution that redefines
property transactions and sets a new benchmark in the Evaluation Methodology
industry. 1. Testing Phases
Alpha Testing: Internal evaluation by developers to identify
Performance Evaluation
technical bugs and performance issues.
The performance evaluation of RealEstateConnect is critical
to assess its effectiveness in streamlining property Beta Testing: External testing with a controlled group of
transactions, enhancing transparency, and improving user buyers, sellers, renters, and professionals to gather feedback
satisfaction. This section outlines the metrics, on usability and functionality.
methodologies, and processes used to evaluate the
2. Data Collection
platform's performance.
User Analytics: Track user behavior, engagement patterns,
Evaluation Metrics and feature usage.
The platform’s performance will be assessed using a
combination of qualitative and quantitative metrics across Surveys and Interviews: Collect qualitative feedback on user
the following dimensions: satisfaction, trust, and ease of use.
Performance Logs: Monitor system performance metrics
1. Technical Performance such as response time and error rate.
System Uptime: Percentage of time the platform is
operational. 3. Benchmarking
Compare RealEstateConnect’s performance with existing
Response Time: Average time taken to process user requests
platforms, such as Zillow, Redfin, and Propy, across similar
or queries.
metrics.
Scalability: Ability to handle increasing user traffic without
4. Controlled Experiments
performance degradation.
Conduct experiments with two groups: one using the
Security: Effectiveness of blockchain implementation in traditional real estate process and another using
preventing data breaches and fraud. RealEstateConnect. Compare outcomes in terms of
transaction speed, cost, and satisfaction.
2. User Experience (UX)
Ease of Use: Measured through usability testing and user Results Analysis
feedback. Statistical Analysis: Use tools like regression analysis and t-
tests to identify significant improvements in efficiency and
Navigation Efficiency: Time taken by users to complete
user satisfaction.
specific tasks, such as finding a property or signing a
contract. Key Performance Indicators (KPIs): Track metrics such as
system uptime, adoption rates, and cost reductions to
User Satisfaction: Collected through surveys and rated on a evaluate overall success.
Likert scale.
Qualitative Insights: Analyze user feedback to identify
Adoption Rate: Percentage of targeted users actively using strengths and areas for improvement.
the platform.
Expected Outcomes
3. Transaction Efficiency
1. Improved transaction efficiency, reducing timelines and
Time Reduction: Comparison of transaction timelines before
costs by at least 30%.
and after using the platform.
2. Enhanced user trust, with a 90% satisfaction rate based
Cost Reduction: Savings achieved in transaction fees, legal on surveys.
processes, and property management.
3. Increased adoption rate, with over 70% of targeted
Error Rate: Frequency of errors in transactions, such as users actively using the platform within the first year.
incorrect documentation or payments.
4. Improved collaboration among stakeholders, reducing
4. Trust and Transparency
process bottlenecks by 40%.
Fraud Incidents: Number of fraud cases reported after
implementing blockchain. Through rigorous performance evaluation,
RealEstateConnect aims to demonstrate its transformative
User Confidence: Measured through surveys on perceived
impact on the real estate industry, ensuring continuous
trustworthiness and reliability.
improvement and scalability.
Contract Automation: Percentage of transactions
successfully executed through smart contracts.

IJTSRD | Special Issue on Emerging Trends and Innovations in Web-Based Applications and Technologies Page 579