Realista is a real estate platform that connects property sellers, buyers, renters, and agents together in the global property market. Using NEO, the platform aims to create an open real estate advertising platform that removes the middle men dividing buyers and sellers.
In the whitepaper published by Realista, it outlines three inefficiencies of the real estate market. First, property advertising incurs high fees for landlords and agents. These fees run anywhere from USD $300 to $4,000 per listing, limiting the supply of property content in the market as landlords sometimes cannot afford to pay them.
Second, Realista believe that the real estate industry is hindered by the lack of innovation and continued reliance on a model that enables monopolization of markets via property content aggregation. The major websites controlling the consumer traffic do not allow landlords and agents to directly advertise their property to buyers and renters, contributing to the high costs of listing property online.
And third, Realista claim searching for property overseas is a challenge, whether a person wants to buy property as an investment or looking to relocate abroad, as it is difficult to access accurate to up-to-date property content on a global scale.
Realista has already launched mobile and web applications aiming to address these issues, which it reports are caused by real estate’s centralized advertising model. At the time of writing, Realista has attracted 40,000 registered agents in New Zealand and Australia, with plans to launch in the USA, UK, and Singapore.
The Realista platform offers features that aim to make it easy for home-seekers, agents, and landlords to connect and do business. For example, property listings are free for landlords, and as low as $10 per month for agents. Some real estate portals charge up to USD $7,000 per month for this same service. Agents will pay fees in RET, the platform’s native token.
Realista also aims to eliminate existing access and entry barriers by enabling agents to upload property from anywhere, anytime, rather than having to go through a series of CRMs. Thus, as soon as a landlord decides to put their property on the market, agents can list it straight away on Realista.
For users, they can explore properties by using search and filters such as price, location, timeframe in a conventional way, or they can set their own preferences and receive push property content that matches their criteria. Once a property is found, users can then connect with the agent, the primary contact for selling a property. If, however, a user is unable to find their desired property, they can also wait to be contacted by a seller with a suitable offer. Realista envisions an open marketplace in which buyers and renters do not have to search, but instead, they can set their preferences and have their real estate needs met instantly. These features will be powered by Realista’s Distributed Property Ledger that also stores property and tenant records.
Realista integration with blockchain will let people view the entire transaction history of each property listed on the platform. The benefit of this ledger for home buyers is that they can access comprehensive and accurate property data before making a purchase. This ledger extends to storing information on tenants as well, as renters can apply online and build their tenancy history through Realista; each rental is recorded on the blockchain, creating verifiable records that can be shown to future agents and landlords. These records can be accessed by paying a small fee in RET, Realista’s utility tokens.
The RET tokens will be used to incentivize property content creation and accelerate its growth and adoption in the real estate market with an upcoming pre-sale that will be held in July 2018; the public sale will be held in August 2018.
The RET token sale details are below:
- Total supply: 1,000,000,000
- Whitelist tokens: 70,000,000
- Pre-sale tokens: 70,000,000
- Crowdsale tokens: 480,000,000
- Accepted form of contribution: NEO
- Token ticker: RET
- Initial price: 1 RET = 0.03 USD
The Realista website has also outlined the distribution model of RET tokens:
- 62.5%: Whitelist sale, pre-sale, and crowdsale
- 22%: Reserves for future development
- 10%: Allocation for Realista’s ecosystem
- 4.5%: Realista team
- 2% Advisory board
- 2% Bounty program
It’s claimed that 60% of the proceeds from the token sale will be put towards platform development and research, with the remaining amount allocated to marketing, expenses and future partnerships.
More information on Realista can be found at the links below.
About The Author: Matthew North
Matthew North is a freelance writer and journalist who resides in East Asia. He spends his time writing and learning about financial technologies like the Blockchain and digital currencies. You can follow him on twitter @fintech_matthew.
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