HOME3 is driving inclusion in the real estate sector through the power of blockchain.
By Godfrey Benjamin
Edited by Julia Sakovich
Updated
3 mins read
HOME3 prides itself on being a core solution to many of the challenges encountered by the real estate market. A few of these challenges are the lack of transparency, high transaction costs, and slow transaction time.
The blockchain-based platform is revolutionizing the real estate sector by leveraging blockchain technology, Web3, and Artificial Intelligence (AI) solutions.
It effectively streamlines real estate transactions, reducing traditional barriers and enhancing security. In the long run, investors and homebuyers can enjoy accessibility, transparency, and a user-friendly experience.
On its official website, HOME3 highlighted its focus on “making buying, selling, and managing properties secure, efficient, and transparent”.
“Our commitment is to ensure transactions are fairer and more innovative, combining trust and technology for smooth and beneficial property dealings for everyone,” HOME3 wrote.
One of the current real estate market challenges the blockchain-based platform aims to tackle is the rising housing prices.
Generally, real estate requires significant capital, excluding smaller investors. The younger generations are now finding it harder to afford such investments to buy a home. While housing prices are rising, wages are not growing at the same rate to cushion the effects.
Most real estate investments have hefty fees, including agent commissions and legal and administrative costs.
In addition to high costs, accessing these real estate investments is sometimes difficult. This could be attributed to geographical barriers, currency exchange complications, or legal restrictions. HOME3 prides itself on being capable of addressing these issues.
Utilizing blockchain’s immutable ledger can provide clear and tamper-proof records of property ownership. This helps in removing high documentation costs for legal purposes.
With housing prices rising and wages not growing at the same rate, it's increasingly harder for younger generations to afford a home.
Using fractionalization and tokenization, we aim to address this problem and make the real estate market more accessible to investors.
Our… pic.twitter.com/XvSTTMUiUJ
— Home3 (@Home3Suite) July 17, 2024
HOME3 also provides transaction history and legal documentation to deliver full transparency. Apart from using automation to eliminate intermediaries, the platform makes property dealings more affordable by allowing fractional ownership. HOME3 aims to democratize real estate through tokenization and fractionalized ownership.
Hence, smaller investors will need minimal funds to participate in the market.
With AI-powered tools and smart contracts, homebuyers and investors are guaranteed a streamlined, stress-free property search. Ultimately, the benefits of HOME3 encompass accessibility for real estate newcomers, expanded opportunities for investors, and educational resources for users.
According to HOME3, its “platform isn’t just about technology; it’s about creating equity and accessibility. We’re redefining what it means to participate in real estate – because everyone deserves the chance to own a piece of the future.”
On a global scale, HOME3 can drive economic growth through decentralization and promoting financial inclusivity. International investors get to participate in local developments through the platform.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.