The problem with real estate
Buying, selling, renting, and moving property is among the most stressful experiences people have.
If you live in a big city, it is even more stressful, because properties of all kinds are in such high demand.
Often, it is a matter of making an agreement as soon as possible in order to not lose out on an opportunity.
This means that there is no time for legal counsel before contracts are getting signed.
While it may be an efficient way of getting things done, it usually creates problems further down the road.
That is why so many courts are dealing with cases where landlord and tenants have disputed part of their contract.
Sorting out these disputes, with all the misunderstandings and unclear language used in the contracts, is taking up a lot of time and resources.
What can be done about these issues?
This is where SMARTRealty comes in. Blockchain technology, the company claims, has the potential to remedy those problems.
SMARTRealty is a platform that will give its users the ability to rent or even buy property all around the world using cryptocurrency.
SMARTRealty promises to revolutionize the real estate industry by using smart contract technology to avoid the issues with tenant-landlord disputes that are currently over-burdening the legal system.
Property sales and rental agreements will be made simpler and easier with the smart contract system proposed by SMARTRealty.
By linking to all popular property sales and rental platforms, SMARTRealty will be able to list countless available properties.
The platform will offer great flexibility as well. It does not matter what kind of cryptocurrency you have, as it will automatically be converted to SMARTRealty’s own tokens called RLTY.
Since SMARTRealty will be using the same blockchain as Ethereum, it will have the same speed and power as Ethereum.
Some ICOs dealing with the property market, like Evareium, have been successful in the past. Evareium, however, is mainly limited to high value properties.
SMARTRealty promises to cover a much broader spectrum in the real estate market, and will thus be accessible to many more users.
You can see the official trailer video for SMARTRealty here:
How does SMARTRealty work?
The system consists of three components: the listing platforms, the contract platforms, and the RLTY tokens.
First, the SMARTRealty listing platforms will work similar to current property listing platforms. Property owners can list the properties they have for sale or are looking to rent out to tenants, and the SMARTRealty listing platforms will then list these properties on many of the popular real estate platforms. The benefit here is that instead of manually having to list the properly on each individual platform, property owners only have to do this once.
Second, the SMARTRealty contract platform will give users some handy templates for creating their own smart contracts. The benefit of this is that it takes all the hassle out of drawing up a contract and saves money on legal fees. The best part of it all is that it ensures that the contract complies with local legislation, so there will be no nasty surprises later on.
Finally, there are the RLTY tokens. RLTY is the currency used for the smart contracts created with the SMARTRealty contract platform. SMARTRealty offers the benefit of flexibility, in that users can pay with Bitcoins (or any other accepted cryptocurrency – see below), which will then be converted to RLTY tokens for the purposes of the transaction. This also ensures that all transactions are recorded and tracked properly.
In this video you can learn a bit more about how SMARTRealty and the RLTY tokens work:
Check out the summary of details here:
Pre-ICO: 15 January 2018 to 15 February 2018
Main ICO: 15 February 2018 to 15 May 2018
Price: 1 RLTY = 0.0008 ETH (Ethereum)
Bonus: 40% bonus if you buy in the first two weeks of the ICO
Accepting: ETH, BTC, LTC, ADA, ETC, BCH, ZEC
Hard cap: 160 000 ETH
What do you think of the SMARTRealty project?
Leave your opinions in the comment section below!