THE PROBLEMS WITH THE TRADITIONAL REAL ESTATE INDUSTRY AND THE PERKS OF USING IA TOKEN

Although the real estate industry is heaven for the investors and the people related to this industry, however, there are limitations, and numerous problems are faced by investors and people around the globe that are in any way related to the traditional real estate market. Some of these problems are explained briefly below:

• The transaction costs in the Philippines these days is around 24% of the total worth of property. The transaction money is taken by the developers, brokers, agents, or in the form of tax given to the government. Everyone takes their fixed percentage and make it difficult for the buyer to pay an extra 24% in this regard just to buy the desired property or piece of land. With IA Token, this problem will be solved, and the amount will be reduced to at least half or maybe less of what it already is.

• The records and all legal bindings are stored in either computerized documents or hard copies. The record of land could be easily manipulated by hacking or could be taken by force. The data is controlled and secured by a single source and is not integrated or secure. With blockchain infused artificial intelligence token, IA will be used, the data will be safe and secure, and the safety will be ensured because of the decentralized nature of blockchain.

• In the traditional real estate business, the transfer of money or ownership could be manipulated by doing some dirty paperwork. People have faced these frauds for over centuries. However, because of the decentralized nature of blockchain, the data stored is accessible to everyone, the investors, the developers, brokers, and tenants. Therefore, the use of IA Token for the transfer is the most transparent and secure method and is undoubtedly the best way.

• The traditional real estate business could take months to years to verify all the documents of the parties involved. Also, the verification could not be done without a lawyer. This makes the process slow and time-consuming also, the fees of lawyers make it costly too. With the use of IA Tokens, there will be no need for verification of any documents, and the uniformity will be maintained among all the involved parties regarding the information. This process will save time and money and will be efficient and effective. Also, IA Token is planning on providing the consumers with the listings and integrated payment methods.

• One of the major issues the traditional real estate industry faces is the restrictions on investors from foreign countries. Most of the countries do not allow foreign investors to buy their land or any property. There are numerous reasons for restricting foreign investors; however, the main reason is to stop the elevation of rates and slow down the market. For instance, Singapore’s government is taking measures to curb the situation of extreme housing rate of US$75000. These are all the problems that the traditional real estate industry has been facing for decades. But, now, with IA Token in place, every problem has a solution.