As we approach the end of 2018, LEGACY is preparing for the changes facing the real estate industry in 2019.
Canada is currently experiencing a massive intergenerational wealth transfer and people are investing in real estate more than ever before. Digitization – including blockchain, cryptocurrency and Artificial Intelligence – is lending itself to this movement and transforming the way business is done in the real estate industry.
Forbes reports that blockchain will revolutionize real estate in the new year through tokenization, smart contracts and property title.
- Tokenization allows investors to buy or sell off their share in a property, which is stored as a token on the blockchain. It also provides investment opportunities to people who may not have been able to invest otherwise by enabling them to buy smaller shares.
- Smart contracts eliminate intermediaries by allowing transactions to be completed directly between the buyer and seller. This saves time, reduces costs and prevents fraud.
- Blockchain can consolidate property data, allowing buyers to efficiently research a property’s history. According to Forbes, this could potentially wipe out the need for title insurance – saving investors additional time and money.
LEGACY is forward-thinking and focused on helping investors embrace the future in order to grow and bolster their portfolios. We’re keeping an eye on blockchain’s growing role in real estate transactions and are eager to utilize (and share) its advantages.
To read the full Forbes article, “Three Ways Blockchain Technology Will Revolutionize Real Estate in 2019”, please click here.
LEGACY is the world’s first Real Estate Investment Advisory company. We are a full-service firm that helps you find yourself benefiting from the results of meeting your financial goals.
Our unique & proprietary process defines, shapes and configures one’s financial future by design achieved through profiling, planning, preparing and partnering inside the realm of real estate.
How can we help you? https://prepareyourlegacy.com/services/