STRENGTHS AND LIMITATIONS ANALYSIS OF SECOND-HANDED REAL ESTATE DATABASE SYSTEM UNDER THAI REAL ESTATE BROKER ASSOCIATION (TREBA)

Abstract

This research aims to study and analyze strengths and limitations of a second-handed real estate database system under Thai Real Estate Broker Association (TREBA) including input data, output data and its source of data by comparing it with the standard dataset from Real Estate Transaction Standard (RETS) under National Associations of REALTORS® (NAR). The data collection is from the existing database systems for the real estate brokers in 10 ASEAN countries and top 6 world’s economic influencers by attending special seminars, TREBA’s monthly meetings and an annual conference together with the in-depth interview with the TREBA executive committees, TREBA members and the system developer and, in addition, with the expert interview with local linguistics experts. The study found that (1) limitations that cause the MLS trial system under TREBA to be inactive are a lack of knowledge and understanding about the concept and working process of the MLS. However, the potential improvement is to allow TREBA starting realizing the advantages of the use of MLS including the affiliating with NAR to coordinate with the other countries that plan to implement this concept (2) The standard dataset of 10 groups with 889 words set by RETS is applicable with all 16 sampling countries, but the difference of the language, perception, law and the economic, social and cultural background has an impact on the terminology definition. (3) To define the terminology should co-operate with the experts from linguistics, architecture, law and the related fields in order to apply it in accordance with the correct meaning. This study illustrates the limitations of the MLS improvement under TREBA to be linked with the other countries, typically the terminology and its definition. Accordingly, the correct knowledge and understanding of the MLS system. If TREBA is a pioneer to launch this project, it should promote the correct understanding and knowledge of the MLS concept, clarify the user requirement to the system designer, set up the standard of the data restriction, and take the action to improve the MLS under TREBA