Factors Having Impact on Marketing and Improvement Measures in the Real Estate Sector of Turkey
Marketing is an essential issue to the survival of any
real estate company in Turkey. There are some factors which are
constraining the achievements of the marketing and sales strategies in
the Turkey real estate industry. This study aims to identify and
prioritise the most significant constraints to marketing in real estate
sector and new strategies based on those constraints. This study is
based on survey method, where the respondents such as credit
counsellors, real estate investors, consultants, academicians and
marketing representatives in Turkey were asked to rank forty seven
sub-factors according to their levels of impact. The results of Multiattribute
analytical technique indicated that the main subcomponents
having impact on marketing in real estate sector are interest rates, real
estate credit availability, accessibility, company image and consumer
real income, respectively. The identified constraints are expected to
guide the marketing team in a sales-effective way.
[1] S. P. Schnaars, Marketing Strategy. New York, 1991, pp. 13-15.
[2] O. Cengel, "Emerging Techniques in the Real Estate Sector and Current
Current Implications," Istanbul Ticaret Universitesi Sosyal Bilimler
Dergisi, 9, pp. 125-131, 2006.
[3] A. Yavas, and P. Colwell, "A Comparison of Real Estate Marketing
Systems: Theory and Evidence," Journal of Real Estate Research, 10,
pp. 583-599, 1995.
[4] A. Yavas, and S. Yang, "The Strategic Role of Listing Price in
Marketing Real Estate: Theory and Evidence," Real Estate Economics,
23(3), pp. 347-368, 2003.
[5] The Association of Real Estate Investment Companies (GYODER), The
Turkish Real Estate Market after the Global Crises and Prognises 2015
Real Estate Research Report, 2010.
[6] Y. Coskun, "An Analysis of the Strengths and Weaknesses of the
Turkish Real Estate Market," in 2010 Proc. European Real Estate
Society Conference Paper, Milano, 2010.
[7] Turkish Statistical Institute (TurkStat),
http://www.turkstat.gov.tr/Start.do;jsessionid=4DqMTGjZJVGF28QtJN
9gQHLSXnpnPNGJRp5Gb1RQS0JlD6GTZs9w!-37914210, 2010,
Accessed 14 June 2011.
[8] M. Kiyilar, and A. Hepsen, "Analysing the Housing Market Structure in
Romania and Turkey under the Global Financial Crises Effect," Annales
Universitatis Apulensis Series Oeconomica, 12(1), pp. 416-425, 2010.
[9] S. Durdyev and J. Mbachu, "On-site Labour Productivity of New
Zealand Construction Industry: Key Constraints and Improvement
Measures," Australasian Journal of Construction Economics and
Building, 11(3), pp. 18-33, 2011.
[10] D. R. Cooper, and P. S. Schindler, Business Research Methods, 9th
Edition, McGraw-Hill/Irwin, New York, 2006.
[11] C. Chang, and G. Ive, "Rethinking the Multi-attribute Utility Approach
Based Procurement Route Selection Technique," Construction
Management and Economics, 20(3), pp. 275-284, 2002.
[12] T. Y. J. Wong, C. M. E. Hui, and W. Seabrooke, "The Impact of Interest
Rates upon Housing Prices: an Empirical Study of Hong Kong's
Market," Property Management, 21(2), pp. 153-170, 2003.
[13] C. Memery, "The housing system and the Celtic Tiger: the state
response to a housing crisis of affordability and access," European
Journal of Housing Policy, 1(1), pp. 79-104, 2001.
[14] M. Ball, "Improving Housing Markets. RICS Leading Edge Series,"
http://www.rics.org/site/download_feed.aspx?fileID=3535&fileExtensio
n=PDF Accessed 10 June 2011, 2003.
[15] A. Adair, S. McGreal, A. Smyth, J. Cooper, and T. Ryley, "House Prices
and Accessibility: The Testing of Relationships within the Belfast Urban
Area," Housing Studies, 15(5), pp. 699-716, 2000.
[16] S. Selim, "Determinants of House Prices in Turkey: Hedonic Regression
Model," Dogus Universitesi Dergisi, 9(1), pp. 65-76, 2008.
[17] G. Arslan, S. Kivrak, and M. Tankisi, "Factors Affecting Marketing
Success for Construction Companies in the Housing Sector," Conference
Paper, 5th International Conference on Construction in the 21st Century
(CiTC-V), Istanbul, Turkey, May 2009.
[18] R. T. Pettinger, "Factors that Affect House Prices in UK. http://www.ukhouseprices.
co.uk/housing_market/factors_affecting_prices.html, 2010
Accessed 01 June 2011.
[1] S. P. Schnaars, Marketing Strategy. New York, 1991, pp. 13-15.
[2] O. Cengel, "Emerging Techniques in the Real Estate Sector and Current
Current Implications," Istanbul Ticaret Universitesi Sosyal Bilimler
Dergisi, 9, pp. 125-131, 2006.
[3] A. Yavas, and P. Colwell, "A Comparison of Real Estate Marketing
Systems: Theory and Evidence," Journal of Real Estate Research, 10,
pp. 583-599, 1995.
[4] A. Yavas, and S. Yang, "The Strategic Role of Listing Price in
Marketing Real Estate: Theory and Evidence," Real Estate Economics,
23(3), pp. 347-368, 2003.
[5] The Association of Real Estate Investment Companies (GYODER), The
Turkish Real Estate Market after the Global Crises and Prognises 2015
Real Estate Research Report, 2010.
[6] Y. Coskun, "An Analysis of the Strengths and Weaknesses of the
Turkish Real Estate Market," in 2010 Proc. European Real Estate
Society Conference Paper, Milano, 2010.
[7] Turkish Statistical Institute (TurkStat),
http://www.turkstat.gov.tr/Start.do;jsessionid=4DqMTGjZJVGF28QtJN
9gQHLSXnpnPNGJRp5Gb1RQS0JlD6GTZs9w!-37914210, 2010,
Accessed 14 June 2011.
[8] M. Kiyilar, and A. Hepsen, "Analysing the Housing Market Structure in
Romania and Turkey under the Global Financial Crises Effect," Annales
Universitatis Apulensis Series Oeconomica, 12(1), pp. 416-425, 2010.
[9] S. Durdyev and J. Mbachu, "On-site Labour Productivity of New
Zealand Construction Industry: Key Constraints and Improvement
Measures," Australasian Journal of Construction Economics and
Building, 11(3), pp. 18-33, 2011.
[10] D. R. Cooper, and P. S. Schindler, Business Research Methods, 9th
Edition, McGraw-Hill/Irwin, New York, 2006.
[11] C. Chang, and G. Ive, "Rethinking the Multi-attribute Utility Approach
Based Procurement Route Selection Technique," Construction
Management and Economics, 20(3), pp. 275-284, 2002.
[12] T. Y. J. Wong, C. M. E. Hui, and W. Seabrooke, "The Impact of Interest
Rates upon Housing Prices: an Empirical Study of Hong Kong's
Market," Property Management, 21(2), pp. 153-170, 2003.
[13] C. Memery, "The housing system and the Celtic Tiger: the state
response to a housing crisis of affordability and access," European
Journal of Housing Policy, 1(1), pp. 79-104, 2001.
[14] M. Ball, "Improving Housing Markets. RICS Leading Edge Series,"
http://www.rics.org/site/download_feed.aspx?fileID=3535&fileExtensio
n=PDF Accessed 10 June 2011, 2003.
[15] A. Adair, S. McGreal, A. Smyth, J. Cooper, and T. Ryley, "House Prices
and Accessibility: The Testing of Relationships within the Belfast Urban
Area," Housing Studies, 15(5), pp. 699-716, 2000.
[16] S. Selim, "Determinants of House Prices in Turkey: Hedonic Regression
Model," Dogus Universitesi Dergisi, 9(1), pp. 65-76, 2008.
[17] G. Arslan, S. Kivrak, and M. Tankisi, "Factors Affecting Marketing
Success for Construction Companies in the Housing Sector," Conference
Paper, 5th International Conference on Construction in the 21st Century
(CiTC-V), Istanbul, Turkey, May 2009.
[18] R. T. Pettinger, "Factors that Affect House Prices in UK. http://www.ukhouseprices.
co.uk/housing_market/factors_affecting_prices.html, 2010
Accessed 01 June 2011.
@article{"International Journal of Business, Human and Social Sciences:57054", author = "Ali Ihtiyar and Serdar Durdyev and Syuhaida Ismail", title = "Factors Having Impact on Marketing and Improvement Measures in the Real Estate Sector of Turkey", abstract = "Marketing is an essential issue to the survival of any
real estate company in Turkey. There are some factors which are
constraining the achievements of the marketing and sales strategies in
the Turkey real estate industry. This study aims to identify and
prioritise the most significant constraints to marketing in real estate
sector and new strategies based on those constraints. This study is
based on survey method, where the respondents such as credit
counsellors, real estate investors, consultants, academicians and
marketing representatives in Turkey were asked to rank forty seven
sub-factors according to their levels of impact. The results of Multiattribute
analytical technique indicated that the main subcomponents
having impact on marketing in real estate sector are interest rates, real
estate credit availability, accessibility, company image and consumer
real income, respectively. The identified constraints are expected to
guide the marketing team in a sales-effective way.", keywords = "Marketing, marketing constraints, Real estate
marketing, Turkey real estate sector", volume = "5", number = "12", pages = "1912-5", }
