Unless you’ve been sleeping under a rock, you’ve probably seen this whole cryptocurrency frenzy that has gone on in the market. Granted, it has died down because the market has died down a bit. Nonetheless, a lot of people are still talking about it as the next big thing, as the next internet even (not necessarily the actual cryptocurrencies, but blockchain technology).
Cryptocurrencies: Poised to Change Real Estate?
As with anything, I believe you have to keep an open mind to not only the changes in the economy but the changes in the world on a daily basis. It’s crazy how if you don’t touch your phone for an hour you feel like you missed out on something big. I want to be a part of these changes. I think that the world is moving towards everything becoming tech-centered, digital, and online—and reality becoming virtual and augmented, with artificial intelligence and even robotics playing a role. These shifts will make big changes in various industries.
One industry that I don’t feel has been largely affected by the changes we see happening in technology is real estate. When you look at a real estate transaction, it still basically happens the same way it did for many, many years. I think that is about to change. I also think that blockchain is going to play a big part in the way real estate deals are transacted. Personally, I think title companies are going to become extinct very soon—I think they will be the first to go. I think real estate brokerages will become unneeded middlemen. Some tech company out there will jumps in bed with the NRA (National Realtors Association) and tell them brokers are not the ones to keep agents accountable. Instead, their technology will be able to do that on a nationwide scale. Therefore, it is my opinion that brokerages are going to become extinct soon.
Last but not least, in the next 20-30 years, I think even real estate agents won’t be needed anymore. That’s because there is a trend in the market right now where a lot of consumers just want to deal with a robot or app or tech product and not actually deal with human beings, which is mind-boggling to me. You’ve got a lot of iBuyers out there like Open Door, Offerpad, and Knock. Zillow has actually entered the iBuyer as well, buying properties and listing them through their own platform, which will ultimately probably not require a real estate agent.
My First Crypto Transaction
Seeing where all of this is going, I want to be a part of that revolution. So something that we have decided to do is sell…