As the real estate industry continues to evolve, embracing the transformative potential of AI and blockchain technology to gain a competitive edge. Here are six ways these cutting-edge tools can help real estate professionals close more deals:
- Streamlined transaction processing: With AI and blockchain, agents streamline transactions, cutting paperwork and processing time. This efficiency lets them handle more deals effectively, working at their own pace.
- Automated contract execution: Real estate agents benefit from smart contracts, automating and ensuring transparent agreement execution. This minimizes disputes and speeds up deal closures, providing a smoother experience for all involved.
- Enhanced security and transparency: Blockchain ensures property record security and transparency, reducing fraud risk. Agents can assure clients of secure, transparent transactions, fostering trust and attracting more business.
- Global market outreach: AI and blockchain platforms like Propy expand agents’ reach to a global marketplace, enabled by blockchain for seamless cross-border transactions. This enhances the likelihood of connecting with suitable buyers and sellers, ultimately leading to more deals.
- When agents add AI and blockchain to listing and buyer presentations it increases the chances to get hired substantially. New generation is tech savvy and demand tech smart agents, the old generation trusts the new generation technology brings a better opportunity when selling and buying homes.
- Automation will drive an increase in US transactions, potentially reaching 20 million homes sold annually compared to the current 4-5 million. This will enable professional agents to close more deals faster each year.
Be different:
Today, ChatGPT is ubiquitous among agents, but without personalization, its impact may backfire. With the right prompts and AI tools, you can stand out and revolutionize your business.
For instance, a real estate agent in St. Petersburg, FL, leverages AI for tips like “Top six curb appeal strategies to boost home sales.” She then repurposes the content for her blog and YouTube channel, using AI video editing to create multiple social media clips efficiently. This innovative use of AI maximizes content creation. Now, let’s delve into the next level of AI utilization.
Enter AI in real estate closings:
At first glance, the merging of artificial intelligence (AI) and blockchain technology in the real estate sector might appear overwhelming but it presents a significant opportunity for agents and brokers to enhance productivity, differentiate in a competitive market, and meet evolving client needs. As consumers increasingly adopt these technologies, professionals must adeptly leverage their benefits, streamlining processes and providing convenience.
For instance, Propy AI provides agents the ability to upload purchase agreements and initiate the closing process 24-7 with just a few clicks. That’s right, 24-7, you can initiate title and escrow. In a real-world scenario, a Miami agent utilized Propy to streamline identity verification, analyze agreements and send deposit links, impressing clients with efficiency.
Blockchain in real estate closings:
We’re in a finance and investment digital shift led by BlackRock, the world’s largest asset manager. They launched a Bitcoin ETF and aim to tokenize $10 trillion in assets with Coinbase, reflecting the rise of Real World Assets (RWA) tokenization. This promises enhanced liquidity, ownership evidence, and transparency, democratizing investments. BlackRock’s $39 billion real estate tokenization aims to revolutionize property ownership. Blockchain boosts market liquidity and transaction speed while ensuring integrity and reducing fraud risk. NFTing real estate assets via blockchain enables quick sales with minimal paperwork. Platforms like Propy Title and Escrow streamline processes and enhance transaction security with blockchain and smart contracts.
Closing with Propy Title and Escrow Agency
Closing with Propy Title grants you access to our comprehensive transaction platform, enhancing our closing team’s efficiency and enabling clients to track progress around the clock. With Propy Title, all parties can collaborate seamlessly at no additional cost, with diligent transaction management ensuring constant updates and easy access to essential documents. Buyers can securely submit deposits through the platform, mitigating wire fraud risks, while downloadable wire instructions eliminate insecure email communication. In today’s closings, email should be avoided for security reasons.
What agents are saying:
Putting deeds on blockchain:
Propy and its subsidiary, Propy Title, are prime examples of AI and blockchain integration in real estate. Through their partnership with Coinbase, thousands of US sellers are leveraging blockchain technology via propykeys.com in the Coinbase Wallet app, shifting the dynamic by directly connecting consumers with Propy Title’s platform. This approach brings deals to agents rather than vice versa, enhancing transaction transparency, security and efficiency.
Blockchain platforms like Propy Title ensure property record integrity, reduce fraud risk, and expedite closings while enabling innovative transaction methods like NFTing real estate assets for instant sales with minimal paperwork. Embracing AI and Blockchain, platforms like Propy Title meet the demand for tech solutions among agents and brokers, unlocking growth opportunities and delivering value to clients.
In conclusion, the integration of AI and blockchain technology has the potential to reshape the real estate industry significantly. Agents and brokers who embrace and adapt to these advancements will be poised to capitalize on new opportunities, enhance their services and drive success in the future.
Natalia Karayaneva is the founder and CEO of Propy, WEF pioneer, — a Silicon Valley company revolutionizing home purchasing via smart contracts and AI. She is an award-winning real estate developer, software engineer and serial entrepreneur with extensive knowledge in real estate and cryptography. Natalia is a frequent speaker at web3 and proptech events globally. She is a contributor to Forbes. Natalia has a degree in Computer Engineering and a degree in Sustainable Urban Development from the University of Oxford.
