Analysing the criteria for measuring the determinants of virtual reality technology adoption in real estate agency practice in Lagos: a DEMATEL method

Abstract

Purpose

This study aims to analyse the criteria used in measuring the determinants of the adoption of virtual reality (VR) technology in real estate agency practice in Lagos, with a view to providing information with which the practice can be enhanced.

Design/methodology/approach

The data for the study were elicited using a questionnaire which was administered to eight real estate firms (REFs). The firms were those that have been operating in Lagos for at least five years, and the data collected were analysed using the DEMATEL method.

Findings

The findings revealed that perceived utility and relative advantage were the most important criteria for determining REFs' performance expectancy with VR technology. The two most important criteria to measure effort expectancy were “perceived ease of use” and complexity. “Subjective norms” was the most important criterion for measuring social influence, while “perceived behavioural control” was the most important criterion to measure facilitating conditions. Under “price value”, output quality was the only significant criterion. Finally, the frequency of use, the actual number of use and the amount of time spent utilising the technology were significant for measuring the REFs' use behaviour.

Practical implications

The study offers insights into the criteria that can assist REFs in integrating VR technology into real estate agency practice. The results are also helpful to the Nigerian real estate professional bodies to organise workshop programmes for REFs on the use of VR technology and other disruptive technologies. The results will also serve as a guide for REFs to gain a competitive advantage in this trying time of pandemic and help them measure up to global standards and the expectations of their clients.

Originality/value

Before this study, efforts have not been made to study the criteria for measuring the determinants of VR technology adoption in the Nigerian real estate agency practice.

Citation

Adegoke, A.S., Oladokun, T.T., Ayodele, T.O., Agbato, S.E., Jinadu, A.D. and Olaleye, S.O. (2022), "Analysing the criteria for measuring the determinants of virtual reality technology adoption in real estate agency practice in Lagos: a DEMATEL method", Property Management, Vol. 40 No. 3, pp. 285-301. https://doi.org/10.1108/PM-05-2021-0035