Deed Platform: Trello for Real Estate
Real estate is opaque. After hiring an agent and having an offer accepted, the process enters the “black hole” of closing. Up to nine parties can often be involved in a single deal: two agents in addition to a buyer, a seller, a lender, an appraiser, a surveyor, an inspector, and a closing company. The communication between these parties resides in the closed-communication medium of email and fax.
A future homeowner relies on an agent to coordinate all elements to produce a key to a future home without insight into the status, except when problems arise. A single weak link between any of theses parties leads to delays and potentially crashed deals causing a home to fall “out of contract.”
These inefficiencies are not acceptable for distributed workforces, thus causing the genesis of platforms such as Trello and Jira. Projects need to move forward: slow parties need to be held accountable and friction must be solved before causing delays.
In response to these same issues for the over 5 million real estate transactions processed yearly, Deed is proud to release the 4.0 platform. Deed 4.0 brings transaction management to the public, allowing all users to invite interested parties, with a simple invite link, to a real estate transaction. Once a buyer, or seller is linked to their agent, an automatic process as of the last system upgrade 45 days ago, they have the ability to send invites to the transaction board to any new parties that become essential to the process.
A buyer links with the Deed agent to purchase a home and after a contract is issued and agreed, one click can send an invite to the seller and their agent. The newly invited party can simply click this link, create a password, and become part of the Deed platform as a “guest” in the transaction. As more parties become needed, surveyors, lenders, attorneys, lienholders, appraisers, inspectors, and closing companies can all join and see every step, deadline, and document they need in a single place.
Utilizing the new portal allows those outside the platform to benefit from the technology to help close deals for Deed customers and agents faster. Through transparency, the clear display can bring accountability to every party and avoid slowdowns before they begin. As an additional benefit, Deed will be supplying a rebate of up to 60% of the Deed used in the transaction, for inviting the first six essential parties.
“Every industry has open, customer assisting technology to increase efficiency,” Deedcoin Co-Founder Charles Wismer said. “Real estate has traditionally lagged behind in open technology and Deed will continue to place a priority on bringing our industry up to speed.”
On the new platform, 24/7 communication is enabled through including all parties in a chat that parallels the transaction log.
To find out more about Deedcoin’s mission to change how people conduct real estate go to www.deedcoinlaunch.com. You can also follow Deedcoin on twitter: https://twitter.com/DeedToken, or telegram: https://t.me/Deedcoin.
