| | |
Blockchain for Real Estate
| | | | |
It's Not All About Cryptocurrencies
You may well be a buyer that has tried to buy the house of your dreams, making offers well above what you feel the actual value should be, yet get beaten each and every time. Most often you don't even know if you are bidding against yourself. That's sadly a common scenario in real estate.
As a seller in this crazy market, if your agent did it right, you'll be seeing a multiple offer situation, but are you fully informed as to which offer is actually the best offer? Do you really understand all the ins and outs of the offers on the table? Are they clearly set out with supporting documentation? Can your Realtor fully explain the differences?
Multiple Offer Shennanigans
A multiple offer scenario often leads to confusion. Even the most seasoned and ethical Realtors can be swayed the wrong way. Many sellers are caught up in a numbers game, or emotionally cornered into making a decision. Often there's money left on the table or worse, a law suit from by buyers who feel slighted.
Blockchain has impacted the real estate industry in a variety of ways, including offering a new means for buyers and sellers, their agents and attorneys to connect with one another.
Multiple offers along with supporting documentation are kept secure from alterations. Sellers are able to view everything in a well organized format, allowing for fully informed decisions not swayed by confusion or emotions.
Any party (with permission) can be given access to one or all of the documents. This is important when consulting with family, attorneys, CPA's, and often buyers who refuse to believe their offer wasn't accepted.
Clear, Concise, Communication
You don't need to understand how the blockchain works, only that it does. Rather like the internet. We don't understand how it works, just that it's really hard to imagine life without it.
How does that little chip in your credit card work? Who knows?! Only that it does, and as if by magic, funds from your bank are transmitted to the vendor you are paying with it. Blockchain is digital ledger that is near impossible to hack, change or finagle. It makes things happen.
It's known as DLT (Distributed Ledger Technology ) and was initially invented to transact a digital currency called *Bitcoin (*a type of cryptocurrency.) Nowadays, blockchains are used extensively for many uses: Music, Public records, Supply Chain Management, Retail and of course, Real Estate.
This short presentation introduces you to why GPS uses blockchain to assist our clients by providing clear, concise, communications.
Full transparency, future forward, real estate.
Global Property Systems runs on the Propy.com blockchain. We can also transact in cryptocurrencies around the world and exchange for fiat when required. Call for further information
Global Property Systems, The Hudson Valley Team
Global Property Systems
The Marquis Suite 320 - 380, 56 Lafayette Ave, White Plains, NY 10603