The Real Estate marketing is changing fast. Learn everything you need to know about crypto, blockchain, digital wallets, and tokenization. Get smart about what is happening in real estate today, and be prepared for the wave that is upon us.
Tokenization of Real Estate is all ready happening. NFTs are proving to have more value than just hawking ridiculously expensive GIFs.
A Florida four-bedroom house had a starting price tag of $650,000. The Florida home was auctioned off as an NFT (non-fungible token) .
The Gulfport four-bedroom house sold for $653,163 of ether, and the winning bidder now holds the NFT, signifying ownership on-chain. The home’s property rights were minted as an NFT, tokenized and put on the blockchain.
For those who are familiar with real estate, smart contracts might sound awfully similar to putting one’s home in escrow (a legal arrangement in which a third party temporarily halts the transfer of money or property until a particular condition is met). As such, the Ethereum blockchain is becoming increasingly attractive as a new, avant-garde avenue for real estate transactions. Instead of hiring an escrow officer, for example, buyers and sellers can simply reply on Ethereum-based smart contracts.
It gets better! Not only can NFTs aid with “tokenizing” ownership and streamlining contracts, but it can help property owners use their homes as collateral for loans sans the convoluted approval process.
As it stands now, you can already use cryptocurrency to secure a loan. For example, if you have $10,000 worth of Bitcoin (BTC), crypto-lending platform Nexo will loan you half of your collateral value (i.e. $5,000). Crypto lenders won’t check your FICO score nor will they put you through a grueling approval process. Why? Because they have access to your BTC if things go awry. As a cherry on top, crypto-backed loans have a quick turnaround time.
The Real Estate industry is the largest asset class in the world with total global valuation around $280 trillion. You will know what the blockchain is and how smart contracts use the blockchain to define the real estate transaction. You will learn how smart contracts how these can improve your daily life as an agent.
Smart contracts are used to automate main of the tasks that escrow companies current do. Smart contracts help with rental payments and works 24 hours a day 7 days a week.
The blockchain is entirely electronic. Thus, implementing it could reduce or end the need for scanned papers, printed mailings, and files full of hard copies in county recording offices. The results could offer substantial savings.
Public blockchains allow all nodes of the blockchain to have equal rights to access the blockchain, create new blocks of data, and validate blocks of data
Bitcoin was the first cryptocurrency to make news. Altcoins such as Ethereum improved cryptocurrency uses with smart contracts and dApps.
Understand the different between a token and a coin. Which blockchain is right for your Real Estate Asset.
It is time to get paid. But which wallet should I use? How can I spend the money? How can I deposit to my bank. What are the benefits of deposits or reinvestment?
Real Estate agents who have sold 1 of more properties have an idea on how to tokenize a real property asset. Learn how to do it right the first time. How not to step on security laws.
You will be able to take a Real Property Asset and transform it into a Tokenized NFT Listing for sale
