In the ever-expanding world of the global commercial real estate, the opportunities and possibilities are unparalleled. Brokerage in prime locations is a multi-billion dollar industry with an estimated revenue potential of over $100 billion USD. Based on the listing of 20000 prime high-street locations, it has been found that the average commission per transaction amounts to a whopping $50000 USD with a disbursement of annual brokerage fees over $100 billion USD.
However, the current real estate system has a plethora of issues that have plagued the industry for long. Some of the prime problem areas of focus are:
- The global real estate market is fragmented and non-transparent.
- The vastness of the industry coupled with locations worldwide causes less visibility.
- Users have no other choice but to depend on third-party portals for sharing the real estate data thereby incurring heavy costs.
- Retail real estate transactions are expensive, time-consuming with the poor communication channel.
- Negotiating and finalizing a deal requires multiple calls and/or visits.
- No detailed location intelligence available across the market.
To address the aforementioned issues and to bring in a radical innovative solution for the global real estate market, eLocations has developed a platform that is set to usher in a much-needed change to the existing global real estate market.
eLocations is a decentralized ecosystem which offers a leasing system that’s transparent, cost-effective, secure, accessible and efficient. Using the Blockchain technology the ecosystem stores verified information from landlords, tenants, brokers and property managers to enhance trust between them. The solutions offered by eLocations are as listed below:
- Provides critical market intelligence with transparency.
- A meta-platform of global real estate listings with a shared database of appropriate identification layer and data exchange.
- Provides an escrow transaction layer thereby offering security and transparency in documentation sharing.
- Provides intelligent business locations, in-depth location data for transparent advisory.
- Efficient contract management using the Blockchain Technology.
- eLOC- The unique eLocations token for facilitating all transactions on the platform. The tokens can also be exchanged in a beneficial ratio to the Utility Token (LCN) on the latter’s launch.
The eLocations powered with the Blockchain technology offers a wide array of unique features:
Global Retail Real Estate Platform
- A one point reference for all the participants to view the global real estate listings.
- The platform offers bids/ inquiries, negotiating deals, a listing of properties around the world, paying rents and various other facilities.
- Provides data by using the Oracle Blockchain Platform.
- Customizable smart contracts to enable transactions with transparency, security, and integrity.
- The Smart contracts and the transactions that are duly recorded on the Blockchain offer any time visibility to all the concerned participants and enables a hassle-free communication experience.
Current Stakeholders Benefits
- Landlords – Short vacancy time as tenants can easily locate their desired preferences using eLocations. Using the global listing, the rent and lease values of properties in any neighborhood for comparison can now be easily obtained. Rent collections and use of the eLOC tokens adds ease of transactions.
- Brokers – Easy identification of potential tenants thereby substantiating the respective portfolios. With location intelligence and smart data, the demand side is easily identified.
- Tenants – Increased transparency and easy listing of all available properties. Using the Blockchain keys/identities, any legal contract is securely signed and the record stored safely on the Blockchain platform. Using the peer-to-peer transfer of digital information on the Blockchain platform, tenants can share all the relevant data and convert paper-based contracts into Smart Contracts using the eLOC tokens.
- Property Managers – Easy management of multiple properties using a single administrative platform. The local intelligence of the eLocations smart algorithm enables tenants to locate suitable property almost immediately thus providing the property managers with a high occupancy rate.
The Smart Contracts combined with the eLOC tokens enables users to execute rent or purchase price payments directly on the platform. This saves substantial costs compared to the conventional system using Fiat payments. eLocations is not merely a Blockchain platform but a new and improved system of optimizing and redefining the global real estate market. eLocations is here to stay and aims to simplify the rental management process with the revolutionary Blockchain technology.
Name: The eLocations Ltd
TG Group: https://t.me/eLocationsICO
Address: Crypto Valley Labs | Dammstrasse 16 | 6300 Zug | Switzerland
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