Abstract
Abstract During the Purchase Decision Process (PDP), consumers use limited information to evaluate the value of an asset, considering that they do not have access to complete and adequate information, lack of knowledge and experience. Technical information about building performance can be used as differential attributes in the PDP. This research seeks to analyze the influence of technical information on the purchase intention and performance expectations of residential real estate consumers. Two studies were conducted, with different but complementary characteristics, the first one being exploratory and qualitative and the second one being experimental and quantitative. The results showed that information, regardless of its content and format, has a significant impact both on purchase intention and performance expectation when provided to the consumer during the purchasing process. However, the information content and format as used in the advertisements developed for this study’s experiment showed no significant differences in the variables analyzed. The main contribution of this work is to provide subsidies to improve the adaptation of real estate marketing advertisements and guarantee better and qualified information to consumers.
Highlights
The real estate market has great influence in the economy, contributing to the growth and development of a city, due to its ability to generate jobs and income (PAZ; NOBRE; NOBRE, 2020)
The first study was an exploration to obtain a better understanding of the Purchase Decision Process (PDP) of a real estate property, mainly in the information search, alternative evaluation and post-purchase evaluation steps
The current study presents an empirical effort to examine the effects of the technical information of a property on both performance perceptions and purchase intentions in the real estate market
Summary
The real estate market has great influence in the economy, contributing to the growth and development of a city, due to its ability to generate jobs and income (PAZ; NOBRE; NOBRE, 2020). Understanding the real estate market and the elements that define buyers' choices regarding their new home is a task that requires effort and care, especially because of the different housing standards that exist in a market. The property – the product of the real estate market – "[...] is unique and non-serial, with a permanent location, which hinders the consistency of processes and all the other aspects that involve its production [...]" Dantas (2000) classifies real estate property as a durable, tangible good when construction is finished and intangible when it is still under construction. It has several attributes that generate a greater involvement of the consumer in the purchasing process (CAMPOS JÚNIOR; INFANTE; ALEXANDRE, 2008)
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