Real Estate Platforms in the Spotlight

AZIT is a blockchain-based, point integration platform for real estate and residential services. AZIT provides a service that allows users to conveniently use points as they see fit for residential services related to real estate or community facilities by integrating points that can be used anywhere.

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In today’s article we are going to tackle the difficult topic of exclusive rights for brokers. In the modern real estate market, it is common for multiple brokers to try to sell a property. Unfortunately, this can sometimes lead to false sales or other market disturbances. To combat this, the PropTech market has proposed exclusive rights to brokers. Let’s take a look at how this could help the real estate market.

Real Estate Platforms in the Spotlight

Online real estate platforms where real estate agents participate directly are emerging one after another. These platforms are characterized by a method that guarantees the exclusive rights of brokers in many cases. There are also expectations that it will be possible to solve problems such as false sales and market price disturbances that have been prevalent on existing real estate platforms for a long time.

According to the real estate industry, online real estate platforms let real estate agents propose a property to the user after they have entered conditions such as the desired size of the house, region, move-in date, budget, and loan availability. In accordance with the conditions presented by the user in advance, the real estate agent can take out individual properties before they’re uploaded to the joint brokerage network, which will result in less false sales.

PropTech platforms for offices and homes in the commercial real estate market are also emerging. Real estate platform ‘Lipan’ provides an online real estate transaction service between institutional investors and real estate agents. The business structure has been designed so that institutional investors can invest in buildings, houses, and hotels, from wherever they are located, including large and small shopping malls across the country. If they find a property, optimized with artificial intelligence, that they would like to purchase, they simply need to click on it and a contract is made automatically.

In the real estate industry, expectations are rising for the business structure of PropTech platforms utilizing the exclusive rights of brokers. In the case of the existing online real estate platform Dabang, brokers have to share the profits as several brokers share the property. Even though a contract was already signed, it was difficult to immediately reflect it on the information network, so false sales occasionally occurred unintentionally. It is predicted that many of these problems can be solved by relying on exclusive rights for brokers.

PropTech platforms’ efforts to promote exclusive rights for brokers can be a way for both users and brokers to benefit. Problems in the market caused by information monopolies or covert transactions by intermediaries that have occurred so far will be reduced, and the market will be stabilized as natural price competition occurs.

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Real estate / Residential Service Mileage Integration Platform