Deedcoin is an ICO that is trying to reduce the cost of real-estate agents and the cost of buying and selling houses. They will do this through their token and networking with local agents they have some serious plans for the real estate market, but before we look at what they are doing, let’s look at the problem they are solving.
What’s Wrong With the Current Real Estate Market?
The main problem that they are taking aim at, is the fact when you sell your house, it cost you six percent of what you are selling. This is a lot and not good for the real estate market. This hurts the buyer and seller.
It hurts the seller for the obvious reason of it being very high and them losing a lot of money that way. It hurts the buyer because this raises the price of houses. There are many reasons this is so high, but the main reason for these high costs they aim to solve is the high customer acquisition costs for realtors.
This means that it costs a lot of money to get a customer or to acquire them, and this makes the whole operation of running a real estate firm. Small Firms must do an insane amount of advertising, for only a small amount of the market share.
This amount of advertising costs a lot of money, and to make this money back, realtors must make their commissions higher. This amount hurts everyone and does not make a good ecosystem for real estate.
So How DeedCoin Solve This?
They will solve these problems for all parties, the buyer, seller, and realtor by cutting out the middleman and getting rid of the unnecessary advertising.
First of all, let’s look at the realtor side of it. The realtor will have a new platform where customers are going to look for realtors. Deedcoin will reach out to specific realtors in each area to be on the platform.
This limited amount of realtors will give each realtor more business and will allow them to not spend any money on advertising. These are the two factors that will allow them to have lower costs, the lowered advertising costs, and the increased traffic.
Sellers are fed up with the exorbitant prices, so they are looking for a solution. Deedcoin will be a platform where they can connect customers with realtors. This will let then compare prices between realtors, and spend Deedcoin for lower expenses.
The seller will have an easier and less expensive sell of their house. Since the seller is saving money, the buyer is too. This lowering of expenses will make the house less expensive. This helps the buyer get a better deal. All of the benefits of the Deedcoin platform will drive the popularity of the platform.
So What is The DeedCoin Token?
The Deedcoin token is the native token to the Deedcoin platform. It will be used to reduce the closing cost of selling your house down to one percent. Each Deedcoin token is worth point one percent of your house.
This means that, at the average rate of six percent for closing costs, it will only fifty tokens to get the closing cost down to the one percent minimum. These tokens are going to be sold in the Initial Coin Offering for one and a half dollars.
This is extremely low because say, for example, you have a house worth half a million dollars then, For every ten tokens you buy, you save five thousand dollars. This is a really good deal, considering you are only spending fifteen dollars to save five thousand.
This is an amazing deal that will probably not be available, because the cost of the Deedcoin will increase, to match the utility of it. These tokens will go to the Deedcoin realtor you are hiring. This seems like a terrible deal for the realtor, but if you actually look at the realtor’s side you will see a lot of benefits.
They will save money on the customer acquisition costs and are getting paid, even if the house is not worth that much. The overall goal of the token is to get a place where realtors are getting an almost set rate and only are paid one percent of the value of the house. The Deedcoin organization sees this as fairer.
So How Does Blockchain Come Into This?
This ICO really does not incorporate blockchain into the whole platform. The platform will be put on normal servers, and everything else will run in an ordinary fashion.
The only part that will use blockchain is the token. It will be run on the Ethereum blockchain, and follow ETH20 protocol.
The protocol is really not important, but the fact that it will be on the blockchain is very important. It will allow many easy transactions and allow everyone to prove that they paid the realtor to reduce the commission.
This will stop sleazy realtors from both charging tokens and the six percent. It will also allow free trade of the token between users.
Awesome, How Can I Use This Now?
They actually have a website up and running already. They have agents in all fifty states and in most cities.
It is really simple to use and has a map of where all of its realtors are. It can save everyone money and will help the real estate market.
They don’t have agents, not in the US but are planning on expanding to other countries. So if you don’t live in the US, you will just have to wait.
If you are looking to sell or buy a house, I would really suggest looking into this project, because it could save you a lot of money.
Also, they are still looking for realtors, so if you are a realtor, then I would also suggest looking into it, as you could get a lot of good out of it too. I really like this project and think it would revolutionize the real estate market.