Is Blockchain in Real Estate Sector the need of the hour?
Blockchain is currently the most superfluous of technologies we have access to. It finds application in every sector from healthcare to education only to revolutionize the same. The real estate industry is no exception and the application of blockchain in real estate shall transform it to a much greater extent in the days to come.
As a Blockchain development company, SHAMLA TECH offers cutting-edge blockchain solutions for real estate projects of different sizes. Avail the professional assistance of real estate blockchain developers for a successful implementation of blockchain in your real estate project.
Problems in the real estate industry
The real estate industry relies heavily on the flow of cash. As there is the involvement of property, numerous sellers and buyers make transactions. However, the real estate sector finds it hard to handle lots of cash with traditional methods.
With the increase in transactions, there is a natural increase in official records. Besides, the loss of legal documents and records shall make the corresponding property invalid. Henceforth, poor record maintenance is a serious threat to the growth of the sector.
The involvement of brokers and other third parties to facilitate price negotiation between the seller and buyer results in unnecessary fluctuations in terms of price.
Approval is an inevitable process when it comes to real estate. The legal procedures in connection to the sale and purchase of asset consume a great deal of time.
Real estate usually involves high tax rates. These tax rates come with no transparency meaning you may be subject to extra charges.
Blockchain solutions for Real Estate
Comprehensive transaction records
Every transaction hits the Blockchain ledger to stay in there forever. With the incorporation of blockchain in real estate record maintenance is no more a manual affair. The immutable feature of blockchain also eliminates the trouble with cash handling with up-to-date transaction records.
The smart contract powered by Blockchain helps in the execution of legal procedures at the soonest. This saves a lot of time on your part and helps you to take your real estate project to the next level.
The transparent nature of blockchain takes away all the hidden charges you pay towards taxes. In other words, blockchain in real estate increases the rate of reliability of the sector and brings in more commercial opportunities
As blockchain works on a peer to peer basis, it promotes better communication between the seller and buyer thereby leaving no room for third-party interruption. This in turn takes away the charges you spend towards real estate brokers.
SHAMLA TECH’s Blockchain developers in Real Estate are full of field expertise and experience. We fetch you ground-breaking blockchain solutions to mend the major and minor setbacks in the real estate realm.