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How Real Estate Investment Is Moving Online

The role of blockchain and artificial intelligence in property investing going online

We’re used to seeing industries change their traditional approach to suit the ever-growing technological world. From retailers moving their operations online to industrial companies using robots to pick stock, there are endless opportunities to embrace new technology for the better. The same relates to real estate, an industry that is always ready to take on new developments to benefit their way of working. Thanks to blockchain¹ and artificial intelligence², the real estate sector is being forced into the future; in the best way possible.

Moving real estate investment online
The new technology of blockchain and artificial intelligence are helping many business to  make their
online presence highly effective and impenetrable, with the use of encryption.

What Does Real Estate Investment Online Involve?

The traditional route of selling your home involves finding the right estate agent to represent your property, then working with them to secure a new place. A team of residential conveyancing solicitors will then finalise the deal and check over the new property to ensure it’s ready to be moved into. In some cases this process can take months, years even, to finally complete but it’s all the industry has known - until now.

The introduction of blockchain based applications have the potential to change everything. There are a few businesses who are already ahead of the curve, like New York based Shelter Zoom, who have moved the real estate process completely online through their application.

Is This Move Safe?

Whenever personal details across the web are discussed, there’s always a concern about how safe and secure the process can be. So, is the move of real estate investment online safe? Well, there are measures in place. One, for example, is that all of the user’s personal information and records are encrypted to make sure no one else can access it. What’s more, all documents are sent and signed through the online portal, however as of yet, no monetary transactions will actually take place online. This should go some way in reassuring clients that this online process is safe and viable.

Blockchain technology is going worldwide
Although blockchain technology was developed and utilized by cryptocurrencies, it is the other uses
for it that have almost unlimited potential on online business, including real estate investments.

What Impact Has Blockchain Had?

Blockchain has the capabilities to impact practically every sector. The only thing holding it back is the industries and their willingness to accept it. When it comes to real estate, the affect could be monumental as the process could be made much easier. The application that Shelter Zoom have pioneered features a step-by-step real-time system with notifications about what stage the deal is at. Information from each party is shown, such as when the estate agent’s documents are submitted and whether the solicitors have signed and returned the paperwork. If this proves useful, there’s no reason why it won’t be rolled out on a wider scale.

The Future Of Real Estate Online

Those who have funds to invest in properties overseas will no longer actually need to be physically present at the viewing when the process is moved online. They could simply view the property by using artificial intelligence supported virtual reality tools, and make an offer then and there. After this, the online application can be used throughout the process. It will completely change the real estate sector. Once real estate agents become more confident with using this method, there benefits to the industry are endless.

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¹Blockchain technology is a revolutionary new technology that allows people to move money and data without a trusted middleman. When established, this all-in-one encrypted method of moving money and data will make transactions faster and cheaper.

²The Artificial Intelligence or AI is another reloutionary technology that's becoming essential part of our lives. It's already being used in the likes of Google search, amazon's Alexa, Apple's Siri, etc. Many large companies started implementing AI in 2017, with that figure more than doubling in 2018. In the next few years it's likely to become a necessity, similar to internet use today.

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