The process of buying a house, selling a house, or trying to do both at once is rarely a straightforward and easy process. The standard approach is quite longstanding, even if some real estate agents list on popular websites or offer a portal to allow customers to track the process of the sale or purchase. Now, new players are breaking onto the scene to offer a faster and more efficient process, and even guaranteed purchases.
Much of this comes down to specific applications of fintech that helps to speed up many of the somewhat subjective and grinding processes of the real estate process. Going forward, these technologies will only become more prominent, especially if we see a huge conversion to one of the breakout technologies of this century – blockchain technology.
Embracing the Buzzword Tech of the Moment
It’s been building in the background for quite some time, always offering a lot of promise and some fears in the mainstream media. Still, with the arrival of ChatGPT and DeepSeek, artificial intelligence is fully on deck to be used by any and all businesses to make advances behind the scenes. In real estate, artificial intelligence could offer a swift and well-founded assessment of a property in the current market.
Utilising artificial intelligence in this way can help to speed up the process greatly, circumventing the rather time-consuming and subjective human-driven research. This kind of tech is what has already enabled some businesses to break through and offer a much more streamlined approach to selling. Now, the best of the we buy any house platforms offer fast cash offers for free, which all begins from a seller inputting their postcode to their text box.
Artificial intelligence can be very useful in this way because it can analyse huge amounts of data and come to grounded conclusions as a result of this analysis. It creates a fair price offering, and while the sellers don’t have to accept the initial offer from a we buy any house site, it can at least offer the seller some fair expectations of what they could get should they endure the regular market.
Moving to Even More Streamlined Tech Solutions
Blockchain technology looks to be the next step in greatly increasing the efficiency of the real estate market if enough of the market embraces its potential. As a baseline, properties could be registered on a blockchain as non-fungible tokens which are unique digital assets that can’t be replicated but can be exchanged. With properties registered as NFTs, they can then be exchanged for other properties or crypto for very minimal fees.
In a similar sense, smart contracts on dedicated blockchain real estate platforms can then enable a more automated and system-checked method of fulfilling all of the paperwork needs, removing the need to pay for intermediaries like agents, brokers, banks, or solicitors. Further, such a move could make real estate a liquid asset by virtue of its ability to be traded for crypto and then that crypto being exchanged for fiat currency on an exchange.
Right now, we’re seeing artificial intelligence applied to the real estate process to help improve efficiency and speed, but down the line, another advance could clearly come from blockchain integration.
