Entegral Blog

The internet has made it possible for people to transfer information quickly, cheaply and paperless - similarly blockchain technology has made it possible to transfer money and assets. In simple terms, blockchain consists of a distributed ledger and a cryptocurrency, such as Bitcoin. But how can it be applied to real estate in the future? Streamlining the sale process Considering all the parties involved in a real estate transaction, the whole process can be cumbersome and expensive. However, cryptocurrency cuts out some of these parties. Public blockchains are a distributed database where anyone can record information, without it being censored, and without needing permission. Equally, anyone can access that information. For example, there are numerous databases of property ownership records. This information includes the address, previous and current owners, and various encumbrances such as mortgages. Prior to the internet, the government and title companies were neces...

A brokerage in Texas claims to be the first in the state to have sold a home using bitcoin. Kuper Sotheby’s International Realty agent Sheryl Lowe represented the buyer of the Austin, Texas home. According to a press release from Kuper Sotheby’s the home sold for an undisclosed amount. Lowe said that she “honestly couldn’t have expected something so unique to go so smoothly,” about the transaction. Adding that the bitcoin was changed to US Dollars in a matter of minutes. As we write, one bitcoin is worth around R51 786 - but the currency is known for its volatility.  In late August it skyrocketed to a record high of nearly R62 266, before falling to around R39 744 in early September. The surge has ensured more media coverage and once again there is interest in whether or not businesses are open to accepting payment in bitcoin. Brokerage Bond New York, rental listing site RentHop, landlord software provider Rentalutions and online lending platform RealtyShares are among ...

According to a recent survey by U.S based brokerage Redfin ,  one in three home buyers are making offers sight-unseen. What does this mean for real estate agents and the future of home buying? With the advancement of technology and the competitive nature of the real estate industry (and market), it is becoming clear that home buyers are starting to make use of alternatives to not only find their ideal home but also buy their new home, and the real estate agents that adapt are the ones that will thrive. While the survey is based on the U.S marketplace, this is much more than just a market shift - this is a generational shift.  The thirty-three percent of people that bought a property sight-unseen in 2016 is a massive 19 percent higher than 2015 and 21 percent from two years ago. “Millennials were more than three times as likely as their parents to make offers sight-unseen, with 41 percent having said they had done so, compared to 30 percent of Gen Xers and only 12 p...

OpenDoor  started its operation in late 2014 by a former PayPal executive. It is a real estate startup that promises a better home buying and selling process: Sell your home at the click of a mouse, and buy with a money back guarantee. Essentially they buy homes at a slightly discounted price, flips them and then resells it through their website. This is how they are trying to disrupt the real estate industry: Selling: Sell your house through the click of a mouse. Provide details on your home and they will send you a cash offer. Accept it and choose your closing date. Albeit at a slightly lower price as they have to make a profit. As simple as that. It significantly simplifies and shortens the selling process. Buying: OpenDoor offers a 30-day money back guarantee on any homes purchased through OpenDoor. It further takes away most of the risk of buying home by providing an 180-point full inspection of every home it sells, and a 2-year warranty that covers up to 20 items. ...