System

Blockchain Real Estate System Provides

  1. Web based interface to browse and list properties for sale, make an offer and manage the sale and transfer to the new owner.
  2. Integrated Transaction Admin system for Buyer/Seller/Escrow/Title
    1. Allows Buyer/Seller and Agents access to all documents and agreements.
    2. Allows Escrow/Title/Closing Attorney’s access to all documents and agreements.
    3. Allows Vendor Access
      1. Home Inspectors and transaction vendors access to all pertinent documents and agreements.
  3.  MLS interface for Local existing Realtor Associations. (Nationwide MLS System)
    1. Separate NODES under the control of NAR/Local Realtor associations.
      NODE allows local control of:
    2. Agent member access.
    3. RETS Interfaces.
    4. Blockchain can sync listings from existing MLS Systems via RETS interface.
    5. Allows Local Associations control of outbound RETS/IDX Feeds.

Smart Contracts

  • Title
    • Recording ownership of property – There is a potential impact on the world of title insurance since blockchain has the ability to provide an indisputable and instantly verifiable proof of who owns the property and whether or not there are any open claims against that property.
  • Automated Legal Agreements
    • Utilizing smart contracts – leases, purchase and sales agreements are made programmable such that specific actions automatically take place when certain milestones are hit, opening up opportunities for automated execution and enforcement of the agreements that support a real estate transaction.
  • Payments
    • Accepting rent, escrow and purchase payments – Blockchain would reduce settlement time to seconds instead of days, while only costing pennies in transaction fees, even with international buyers.
  • Fractional Property Ownership
    • Fractional ownership of property – Through the use of blockchain there can be the opportunity to allow multiple parties to together own fractions of a property as opposed to today’s model which is primarily based upon one party owning it. This can increase accessibility by lowering the minimum amount of capital needed to get exposure to real estate as an asset class, while also allowing property owners to sell partial equity, providing liquidity.