If you would want to buy or looking to sell real estate property, then the best place to start is usually by checking with the listing of your local real estate agent. However, potential property buyers have no access to the listings that agents generally use when searching for property. Additionally, the listing service is pretty much fragmented and difficult to understand.
However, in the future, the decentralized nature of blockchain technology could go into use for opening up the listing access for any potential buyer to review. eLocations new solution hopes to form its basis on a much similar concept. Here's how their new blockchain service could change property listing and leasing.
What Is eLocations?
eLocations plans to disrupt the traditional real estate property listing market by developing and providing a one-stop solution that will enlist all the retails properties across the world. The blockchain-based platform will revolutionize property contract management to enable retailers and clients to use smart contacts to establish digital agreements for leasing. Furthermore, eLocations hope their real estate service will provide the necessary turnover data for the retail properties in prime locations around the world.
eLocations Real Estate Blockchain Marketplace Vision
In the short term, eLocations hopes to become an important site that would help potential property clients and sellers to conduct the due process of leasing or buying through the unique PropTech meta-platform. Additionally, the long-term goal of eLocations is to offer full transparency to the world of commercial properties by incorporating blockchain technology. That ensures the property listings and data are always available in real-time.
- Securely and safely establish property contracts through smart contracts
- Fast transactions for the lease or buying payments
- An immutable resource for all property available for sale
- Eliminations of agent fees
- Competitive rates for the prices
- Transparency of the information thanks to the blockchain
- Ability to compares prices and rates of other properties
- Comfortable and secure collection of rents by using the LocationToken
- Low transaction costs
- Identify potential tenants
- Increase their property portfolio
- Provision of the location intelligence for identifying the inherent property
- Ability to meet the client listing demands with the advanced technology
- Faster methods of matching properties to the respective clients
eLocations LOC Token ICO Details
- Pre-ICO start date: 26.04.2018
- Pre-ICO end date: 31.07.2018
- Pre-ICO first 3,486,900€ raised – 30%
- Pre-ICO 3,486,900-5,811,500€ raised – 20%
- Pre-ICO 5,811,500-6,973,800€ raised – 10%
Parameters Of The ICO
- Symbol- LOC
- Platform- Ethereum
- Type- ERC20
- Accepts- ETH
- Token supply- 100,000,000 LOC
- Price rate- 1 LOC= €0.058
- Hard cap- € 58,115,000
- Soft cap- € 2,909,250
- Token sale- 80%
- Founders and employees- 15%
- Reserve- 5%
- Budget allocation
- IT development- 35%
- Data development- 20%
- Marketing and sales- 15%
- International expansion- 15%
- Admin and operations- 10%
- Legal expenses- 5%
It is evident that blockchain could potentially disrupt the property industry in various ways and eLocations is at the forefront of the radical change. The most exciting element is that the property industry is ripe for change and only efforts such as eLocations can achieve its fete. However, the property industry is still resistant to change, and it will take a significant shift to truly convert the landlords, businesses, users, and brokers. If that happens then, eLocations does stand a chance to be of great advantage.