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Real Estate NFTs: Will They Be a Game Changer? by scaredycatguide

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· @scaredycatguide ·
$29.51
Real Estate NFTs: Will They Be a Game Changer?
Perusing a real estate related forum earlier today I found a conversation about real estate NFTs.

It is something that is being talked about more and more in real estate circles and from the investor side atleast, seems to be receiving a warm welcome.

## Tokenize My Property Please!

![money1448641_1280.jpg](https://images.hive.blog/DQmPyccqeMAh61bq1VYWBeSEN3hHNrizizhcfpUarxbGJxv/money-1448641_1280.jpg)

Any one who has done a real estate transaction in the United States knows how much or an arduous process it can be.

So much paperwork, some many intermediaries and service providers to handle things such as title search, title insurance, state recording and so on.

Sometimes you run into issues because something on a prior sale or mortgage was recorded incorrectly (I have dealt with this more than once) causing delays.

### Efficiency and Optimization

The idea of turning a property's deed or title into an NFT I think will clear up so many of these "loose ends" and will also make the process way more efficient. 

Said token represents said property.  If I want to purchase that property then smart contract is entered.  I send funds, token gets released to my wallet.

Done and done.  No question of who has claims to the title based on whatever history or it not be cleared correctly.

Now granted, we will still likely need service providers to facilitate transactions, but this can be as simple as an online portal/marketplace.

The hardest part about all this is the initial tokenization of properties and those properties being approved as having a clean and clear title before a token is created.  After that its smooth sailing.

It will likely take a decade or two before this becomes a norm, assuming it catches on, but I am sure hoping it does.

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vote details (395)
@acesontop ·
RE: Real Estate NFTs: Will They Be a Game Changer?
> Anyone who has done a real estate transaction in the United States knows how much or an arduous process it can be.

Try that in Romania... In regards to NFTs, I said many times on my blog that I consider the famous ones such as BAYC mostly overvalued crap, but the tech will for sure find its place in the world.  

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@bitcoinflood ·
$0.04
RE: Real Estate NFTs: Will They Be a Game Changer?
I've actully been seeing a lot more of these lately. In theory it would eliminate a lot of fees and confusion but on the other there still needs to be some type of governance and authority around it.  The removal of all or at least some of those banking fees would be a HUGE win! 

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vote details (1)
@scaredycatguide ·
$0.03
RE: RE: Real Estate NFTs: Will They Be a Game Changer?
Banks and local municipalities are gonna do their best to delay change in order to hold onto fees.  Gonna be interesting.

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@bitcoinflood ·
There was once a time you had to pay crazy fees to trade stocks. Then Robinhood rolled around and everyone started to wave fees lol. It's bound to happen its just going to take time.
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@borsengelaber ·
Thought about this idea too. Maybe in 10 years from now it will be an option to do. Would make real estate catch up to stocks and crypto in tradeability because currently you can sell parts of a company (stocks/shares) or parts of a Bitcoin but not parts of a real estate.
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@buggedout ·
$1.08
Definitely.  This is not a question of IF but WHEN.

There is a bit of legal work needed and the governments Department of Lands (or equivalent) will need to be involved.  Gov moves slow so that means we might be a ways off but I've been expecting this for a while.

What I'm even more excited about however is being able to have a trust hold the NFT and then a secondary token to own the trust.  This will open the real estate market right up to micro-investors.
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vote details (7)
@scaredycatguide ·
$0.23
RE: RE: Real Estate NFTs: Will They Be a Game Changer?
Yes, gov't involvement is exactly why it will take 5 times longer than it would otherwise.

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@builderofcastles ·
This is one obvious area where NFTs match the real world and solve a real world problem.

However, it will be short lived.
House prices in the cities will fall to below $0.
As many houses are abandoned.
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@curation-cartel ·
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@jaydr ·
RE: Real Estate NFTs: Will They Be a Game Changer?
Such a nice idea.. 
It would take some time tho but here is where the future is gonna be. 
As long as the land is cleared, all the paper work and stress can be summed up in the tokenization. 



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@kolus290 ·
RE: Real Estate NFTs: Will They Be a Game Changer?
This looks totally cool
I think Blockchain technology can make the legal aspects of real estate more secure and transparent.
But I'm not an investor, I really can't say anything else. 

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@mercadomaestro ·
RE: Real Estate NFTs: Will They Be a Game Changer?
I thought that DocuSign would potentially enter the smart contract space, since they dominate the e-signature and paperwork for business transactions sectors pretty thoroughly.

I think blockchain records could be used to document title, but if they're not private, then the whole world can see exactly who owns what property and where. That could turn into a gigantic privacy nightmare.

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@newageinv ·
$0.04
This is an obvious evolution of real estate with blockchain!  Titles, licenses, permits, among other things used to β€œgovern” will be a great first step.  Then, it could expand into the actual tokenization of properties which will make it more efficient for investors to partner and syndicate!  So much innovation to come!
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@scaredycatguide ·
RE: RE: Real Estate NFTs: Will They Be a Game Changer?
Would be awesome if blockchain was used for the permitting process, can only be an improvement!

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