Adoption of Gig economy in the real estate industry: drivers, challenges, and impact on innovative business strategies

The gig economy has transformed various industries, including real estate, by introducing flexible work arrangements and innovative business strategies. Despite its growing significance, research on the adoption, challenges, and strategic implications of gig work in real estate remains limited. This study aims to (i) identify the key factors driving the gig economy in real estate, (ii) analyze the challenges faced by both gig workers and companies, and (iii) investigate the impacts of the gig economy on the industry through innovative business strategies. A qualitative research design was employed, utilizing semi-structured interviews with four industry experts through purposive sampling. Thematic analysis revealed that flexibility, cost-efficiency, demand for niche expertise, digitalization, and workforce agility are primary adoption drivers. In addressing the second objective, the study found that companies face difficulties in assessing gig workers’ reliability and qualifications due to the absence of standardized regulations. Gig workers, conversely, grapple with job insecurity and intense competition in an unregulated market. The findings of objective three, further demonstrate that the gig economy is shaping real estate strategies through flexible leasing models, co-living arrangements, and short-term rentals that align with gig workers’ lifestyles. These trends reflect a broader industry shift toward adaptability and affordability. This study fills a critical gap by providing empirical insights into the relationship between gig work and real estate innovation. It underscores the need for structured platforms and regulatory frameworks to ensure sustainable gig work integration in the industry. Future research should explore policy interventions and the long-term sustainability of gig work in in real estate.