xDALE is a Smart Contract Real Estate Marketing Organization. It can be seen as the “Un-Broker”.
The Real Estate Services industry is rife with red tape and other inefficiencies. It is an environment based on paranoia. The proprietors are paranoid about wire transfer fraud, excessive fees. The lawyers are resentful of the high compensation paid to brokers and the brokers resent the fastidious lawyers who kill more deals than bad credit. Furthermore, the listing agents resent having to co-broke a listing and often withhold access to potential customers. This does a disservice to the Landlord. There is a lot of leg work involved which requires pre-qualification of the customer. Finally, the customer often hides the truth of his personal background for fear of application denial. In many cases he must pay creative deposit fees, move-in fees, and application fees.
All these elements come after the rigorous search for available listing and many proprietors want to do it themselves and do not subscribe to a MLS. Therefore, a confusing multitude of alternative websites now pop-up to host listings. The solution to these inefficiencies are self-managing smart contracts. The following are some XDALE-Benefits to the players in a real estate transaction.
- A decentralized peer to peer network
- Less paperwork
- Faster closings
- Conflicts are eliminated between staff and proprietors
- Expanded territory beyond local market
- No need to sell, simply supervise property tours
- Option to be paid a flat salary a draw against future earnings
- Listing exclusives are guaranteed via publicized NFT images
- Agent has personal ecommerce web page
- Compensation is transparently delivered via deFi wallet
- Eliminated expense of Errors and Omissions Insurance
- Low commission payout; higher profit margin per transaction
- Lowered transaction expenses due to deFi
- ERC20 token allows for rewards program to customers
- Flat-fee option
- Crowd-funding in some jurisdictions
- Property tokenized to Title Search Database
- International investment potential
- Wire fraud vulnerability eliminated
- Smart contract arbitrator supervises your rights versus the Proprietor
- Bureaucracy elimination lends speed and savings
- Your sensitive data is kept offline in cold storage then erased as scheduled
If you wanted to rent your apartment to someone, you’d need to pay a middleman such as Craigslist or a newspaper to advertise, and then again you’d need to pay someone to confirm that the person paid rent and followed through.
A decentralized solution can help cut your costs. All you do is pay via cryptocurrency and encode your contract on a smart contract. Everyone sees, and you accomplish automatic fulfillment. Brokers, real estate agents, hard money lenders, and anyone associated with the property game can profit.
Smart contracts are revolutionary in terms of transforming the current real estate practices.
Smart contracts are replacing traditional contracts as the sole agreement between the seller and buyer. It automatically executes the requirements as soon as specific conditions of the contract are met.
Smart contracts guarantee trust through a single version of the truth by establishing trust. All the parties including the bank, the agent, and the mortgage lender can sign an agreement via smart contracts. Because transactions are kept on a blockchain, this shared ledger enables the parties involved to look over the process at any moment and from anywhere.
A smart contract is a self-executing digital agreement that enables two or more parties to exchange money, property, shares, or anything of value in a transparent, conflict-free way while avoiding the need for a third party.
Smart Contracts are Awesome! |
21 thoughts on “Smart Contracts”
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