A variety of industries are beginning to see the impact of blockchain as a disruptive technology. Real estate is one such industry that could soon realize a massive transformation. In fact, this change is already underway. There are some notable real estate startups that have begun making progress in the development and/or adoption of blockchain solutions.
Impact on Real Estate Agents and Other Third Parties
Property listing websites have already reduced the demand for real estate agencies. However, many buyers still utilize agents when shopping for properties. Traditional real estate typical involves quite a few middlemen. You’ve got brokerages, lawyers, bankers, and real estate agents to name a few. From both the buyer and seller side, the use of blockchain technology could easily result in reduced fees – two to three percent…