Digital MarketingHow Blockchain is Transforming Digital Marketing in Real Estate

How Blockchain is Transforming Digital Marketing in Real Estate

With the triumphant entry of Blockchain into various business sectors, it would be hard to find any industry not feeling the impact of this technology. Blockchain disruption is evident across all industries, real estate not spared. Mode of payment, marketing, and how buyers and sellers interact are all changing. While some sectors may find Blockchain disadvantageous, the real estate industry can attest to the countless benefits it gains from this technology.

Here are ways in which Blockchain technology is transforming the real estate industry.

1. Online Marketplaces and Trading Platforms

For many years, real estate technology’s only concern has been connecting sellers and buyers and availing property listings. However, with the introduction of Blockchain comes new methods of trading in real estate that enable realtors to transact comprehensively on trading platforms and online marketplaces.

Many developers and property managers can now use trading platforms to list properties for rent and sale. Buyers can also search and purchase their desired properties through online marketplaces. For example, you can purchase a five-bedroom on Hauzisha and complete the process online. Nonetheless, such deals can work best if the buyer and seller are both open to Blockchain transactions.

2. No More Need for Intermediaries

Blockchain removes the need for intermediaries in real estate transactions. Banks, brokers, and lawyers have been in close contact for a long time, but things are about to change. However, Blockchain is shifting these intermediaries’ involvement in real estate by introducing platforms that assume payments, listings, and legal documentation.

Buyers and sellers can now enjoy more value for their money and transact effectively without interruption from intermediaries. In addition, properties can now be more affordable, and demand rises as buyers and sellers no longer need to worry about paying commissions and other charges to intermediaries.

3. Blockchain and Fractional Ownership

Blockchain reduces barriers to real estate investing by allowing fractional ownership. Traditionally, you would require a significant amount of money to invest in real estate properties. However, Blockchain makes investment more accessible by enabling investors to purchase fractions or shares of property, represented by tokens, called fractional ownership.

With this option, investors have minimal barriers to the industry as they can invest smaller amounts of money in multiple assets. Fractional ownership boosts democracy in real estate, allowing more people to participate. You only need to access a trading platform to buy or sell your tokens as you desire.

4. Blockchain and Automated Transactions

Automated transactions are among the most significant ways Blockchain is transforming the real estate industry. Traditional real estate transactions were mainly based on intermediaries to discuss and close deals; this was costly to the buyer and the seller. On the other hand, Blockchain has smart contract capabilities that allow for secure, automated transactions.

If you meet the predefined conditions, these smart contracts will execute the terms of the transaction automatically. With that, all parties can rest assured that transactions will go through efficiently and securely without relying on and spending extra money on intermediaries.

5. The Smart Contracts

The Blockchain smart contracts for real estate are indispensable in streamlining deals. These contracts are self-executing; they automatically enforce a real estate transaction’s terms and conditions. The instructions of these contracts are encoded in the Blockchain to reduce the risk of disputes and enhance transparency.

Each party can be confident that the transaction will go as agreed upon, and no payment will be released unless all the conditions are met. Smart contracts are the turning point for real estate, putting a significant bridge between traditional transactions and the technological era.

Blockchain is making a dramatic transformation in the real estate industry. Besides making it more open to more investors, even those who cannot afford a lot of cash for considerable investment, it is now easier to transact. As a result, real estate is now more lucrative to investors than ever.