ZILLIOS Review
The real estate industry is one of the fastest growing ones. With tons of companies and platforms developed to cater to the needs of all industry players. With these platforms developed, the industry is still faced with certain problems that have clearly stunted industry growth. These problems could be International and local problems that must be solved for the industry to experience global adoption. We will take a look at some of the problems of the industry.
Problems Of The Real Estate Vacation Industry
1. For an industry to grow, it must be able to support international trading. This is one of the main problems of the real estate industry. It has a national focus. Most of the real estate property portals do not list properties that are abroad. Asides the fact that these portals do not list international properties, they charge outrageous fees. Often times, individuals are asked to pay for monthly subscriptions without no guarantee of getting positive results. Also, the number of portals available are little in number when compared to the areas they serve, occasionally this causes a rise in price.
2. Hidden charges;
This is one of the complaints all renters in the real estate industry have forwarded. Often times, renters experience non-transparent commissions and charges, cleaning cost, increased payment method type and other unexplainable charges. These charges would definitely discourage renters from making purchases. Asides these fees mentioned, renters would have to pay 100% of the rental price.
3. Dependence on portals;
There is much dependence on rental portals. These leading portals dominate the market and search engines making it extremely difficult to rent properties without them. If you seek to carry out your own marketing it is expensive and would require you to have proper knowledge of marketing. This is why most property owners and agents have opted for these rental portals. This means that all in the industry are left with no option than to depend highly on this portal that often times charge high commissions and unexplainable charges.
As mentioned earlier, there are a few of these portals that serve millions of people. This makes them a top choice, giving them to right to make outrageous demands in form of charges. Also, most of these portals would require agents and property owners to pay for subscription without any guarantee that they would get better results.
4. Lack of trust between property owners, agents, and buyers;
Since the real estate industry is not transparent, lack of trust would definitely exist. Most buyers or renters would not want to be cheated. The lack of trust is why property owners and agents make use of reputable portals without minding the outrageous fees they would have to pay.
Irrespective of the fact that property owners pay large sums for yearly and monthly subscriptions, these property owners and agents do not have control over how their properties are positioned on these portals. This goes a long way to show that market budget and activities are not properly controlled and monitored.
5. Income delays;
Most of the leading real estate market leaders like Airbnb, TripAdvisor etc have a policy of retaining the payments that are made by the renters until a day after their arrival. This means that property owners would have to wait for a long time often times about six to twelve months before they are able to receive their money. Things could get worse for owners if the renter declines or refuses to take the property on arrival. Often times this is a huge problem for these owners as the might have certain emergency plans for the money.
6. Lack of a one-stop solution;
Currently, property owners do not have any self-developed software that is able to process as well as offer data flow solutions for their properties. Neither do they have websites that are able to help them effectively rent their properties. Since these softwares and websites are not available, owners would have to choose to work with portals like Airbnb that offers them processing and document flow solutions without the booking payments. They might also decide to work with HomeAway that does not offer processing and document flow solutions but enables them to collect payments directly. Often times, these home or property owners are left with no option than to work with two or more portals. This means that they would simultaneously pay for subscriptions on all platforms. Asides the cost of working with two or more portals, property owners would have to avoid lacking intelligent solution and double booking.
This means that they do not have to only spend money because of the lack of an all in one platform, they would have to spend a considerable amount of time worrying about not double booking.
The Blockchain And Blockchain Based Platform As A Solution
Most people do not understand the benefits of the amazing blockchain technology. The blockchain technology is one of the most innovative and purpose-driven technologies of the 21st century. Basically, it is a distributed ledger that is capable of storing vital information in a secure, verifiable and permanent manner. The blockchain technology is immutable meaning that all information that is recorded cannot be altered, modified or changed by anyone. The blockchain has proven to be an industry game changer. It has been proven to provide the needed efficiency level that industries need.
The blockchain technology with its amazing features would be a game changer in the real estate industry, how?
The blockchain technology is capable of recording transactions between two parties, it has the capacity to track and authenticate transactions in real time, making it a perfect technology for the real estate industry. It would change the industry in three ways;
1. Ownership; the blockchain technology is able to track digital goods in a system that is transparent at the same time being secure. This technology guarantees unquestionable truth regarding the ownership of assets and ownership of each transaction that is carried out.
2. Trading; the amazing blockchain technology is capable of connecting participants in any market in ways that most would refer to as "impossible". The technology is capable of creating a trustless abstraction for such things as currencies, properties, identity or reputation. The blockchain technology eliminates the need for intermediaries or middlemen in any industry thus making the trading less expensive and efficient.
3. Trust; the blockchain technology is a powerfully distributed ledger of authenticity and validation across a number of industry or market participants. With the technology, players in the real estate industry would have information into the ownership of a property and the history of the property helping them make better decisions. This is done without users or participants having to trust each other. Also, there would be no need for intermediaries like; certifiers and auditors.
Since we have all agreed that the blockchain technology would definitely be a game changer in the real estate industry, you will find it interesting to know that an amazing blockchain based platform has been developed to solve all industry problems, the Zillios platform is that platform.
What Is Zillios?
The Zillios platform was developed after careful study of the real estate industry and the blockchain technology. The Zillios platform is designed with certain features that set it apart from the other real estate portals. This platform seeks to solve the problems that this industry face as well as providing added value for buyers, owners, renters, and agents. One interesting fact about this platform is that while the portals that dominate the market charge outrageous fees, the Zillios platform charge users 0% for property listing, 0% commissions on all rentals and bookings that are made, at the same time offering users a flexible and fully controllable marketing experience with its cost per click model.
The Zillios platform is built on the blockchain technology and has Integrated smart contracts that would take away any form of inefficiencies. The Zillios platform would be beneficial to these people in the real estate industry;
1. Sellers, owners, and agents; owners and agents would greatly benefit from the Zillios platform. With the blockchain technology and smart contract, buyers and sellers are sure of faster and cost-efficient transactions. This platform would give the people power in an industry that is dominated by several intermediaries and third parties. Users would have to choose if they would be needing the services of agents.
2. Buyers; unlike the portals that dominate the industry, the Zillios platform would not charge buyers for bookings and purchases. The platform also offers them a one-stop solution, ensuring that they do not have to register on any other portal.
3. Vacation rentals; the Zillios platform would allow interaction of not only the industry players but also other related players like; lawyers, mortgage banks, notaries etc. The platform would be an ideal platform for all in the real estate industry.
4. Third parties; the platform seeks to offer additional services to third parties. This would be done by creating a model that would offer not just branding but promotion.
Conclusion
After discussing the problems that face the real estate industry, we have discussed how the blockchain technology and blockchain based platform Zillios has been able to be a game changer. The Zillios platform with the help of a smart contract and the blockchain technology is sure to change the industry.
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Written by tibo
we hope it will change.