![]() ![]() ![]() Tokenization of luxury property has even attracted some of New York’s top brokers to blockchain technology. On the buyer’s side, expanding or decreasing a position is as easy as finding a buyer or seller for a share of the property. By tokenizing a property on a blockchain, a developer removes the need for traditional bank financing and frees themselves from the traditional sales timeline constraints on investment property. In fact, with the utilization of smart contracts on a blockchain, Mark Zilbert, EVP of Brown Harris Stevens Miami says that real estate transactions could become as easy as online shopping, enabling real estate contracts, escrows and property records to be completed and monies distributed without title companies or attorneys.Įven beyond the individual buying and selling of property, blockchain offers the ability to change how people invest in real estate. By having a single, public version of records, the trust needed between a buyer and seller is decreased since the seller can immediately prove their ownership of a property and the buyer can immediately prove their funds on hand. Learn how industries are revolutionizing business with IBM Blockchain Why is blockchain changing real estate?īlockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. While the marketing tactics used in the 1910s are still going strong today, the processes involved in buying or selling real estate are ready to be disrupted with blockchain technology. These agents provided, and still provide, a valuable resource: trust! When you go through the home selling or buying process with an experienced agent, you can rely on their knowledge around not just the local laws and regulations, but also their guarantee that the seller actually owns the home and the buyer has the funds to pay for the home. In the United States, the first record of a home sale was recorded in 1890, but it wasn’t until the 1910s that agents began acting as middlemen for buyers and sellers using walkthroughs, home staging and yard signs to market a home. ![]() Globally, real estate has recently been valued at over USD 280 trillion - a more valuable asset class than all worldwide stocks, shares and securitized debt combined and represents the largest store of wealth at three and a half times the total global GDP. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |