₦airaland Forum

Ellamediate is championing co-ownership of real estate assets in Nigeria.
See how here.

EllamediateHQ:
Proptech is beyond a convenient site to list properties available for sale or rent. Proptech is an active revolution making the real estate market more productive, efficient, accessible, and sustainable.

Here’s a cheat code to help you keep this in mind: Ellamediate.

When you think proptech, think Ellamediate because Ellamediate is solving the traditional problems of the real estate market, with an app that serves both as an innovative real estate marketplace and a financial growth platform.
The real estate industry might be big but it’s not as big as it should be, especially in Africa. Imagine the potential of an industry currently worth $326.5 trillion, according to Savills, when the following traditional problems are tackled:
1. The high entry barrier makes retirement savings the only viable option for a majority of people to consider participating in the real estate market. When they do, it’s with the idea of a personal residence, which doesn’t do much to improve the economic system of their country in favour of sustainable development.
2. Slow legal and regulatory systems: time is money. The time it takes for legal documents to be prepared, approved and administered affects the rate and efficiency of business interactions in the real estate industry. It even discourages trade. Money is lost in the document piles of middlemen.
3. Poor liquidity rate: Lots of finances are tied down with assets that are difficult to get off the market; not because they aren’t valuable but because their purchase is only accessible to a select group of individuals. When money doesn’t flow from assets, their economic potential is greatly diminished. The more liquid assets are made, the more economically vibrant the real estate sector becomes.
4. Single investments: The high capital requirement for real estate means that those who dare to be owners have a chunk of their investment portfolio consumed by a single asset. An asset that may well hold the owner’s finances at ransom. The idiom against putting all of one’s eggs in a single basket does not exist without reason.

It might seem ambitious that one app claims to, not only address but solve these problems but technological innovations are fueled by ambition.
Ellamediate’s solutions are simple yet profound, the fruit of in-depth research and technological experiments.
This proptech company is leveraging fractional ownership, smart contracts and a secondary market built on advanced blockchain technology to virtually eradicate these problems. And all these features are neatly tucked into a single application with an interface that makes it accessible to anyone.
Firstly, On the Ellamediate app, high-value real estate has its values converted into equal fractions which can be easily purchased and owned by different individuals; a great analogy for this is the way shares in a company are purchased. Each buyer co-owns the property and has a corresponding stake in capital gains or rental income that are accrued.
The revolutionary aspect of fractional ownership is that each owner has a utility token that represents the very real-life asset they possess. These tokens make it easier for owners to trade and exit the market for hard cash whenever the personal need arises; this trade occurs on Ellamediate’s secondary market, powered by blockchain technology.

Everything happens in at most, two-finger snaps, once an Ellamediate user indicates interest in an asset and moves to acquire it, the contract is automatically emailed for their signature. Smart contracts obliterate the time and cost lost to middlemen and regulatory issues.

Continue reading here
This article was first published on Medium.

Proptech is beyond a convenient site to list properties available for sale or rent. Proptech is an active revolution making the real estate market more productive, efficient, accessible, and sustainable.

Here’s a cheat code to help you keep this in mind: Ellamediate.

When you think proptech, think Ellamediate because Ellamediate is solving the traditional problems of the real estate market, with an app that serves both as an innovative real estate marketplace and a financial growth platform.
The real estate industry might be big but it’s not as big as it should be, especially in Africa. Imagine the potential of an industry currently worth $326.5 trillion, according to Savills, when the following traditional problems are tackled:
1. The high entry barrier makes retirement savings the only viable option for a majority of people to consider participating in the real estate market. When they do, it’s with the idea of a personal residence, which doesn’t do much to improve the economic system of their country in favour of sustainable development.
2. Slow legal and regulatory systems: time is money. The time it takes for legal documents to be prepared, approved and administered affects the rate and efficiency of business interactions in the real estate industry. It even discourages trade. Money is lost in the document piles of middlemen.
3. Poor liquidity rate: Lots of finances are tied down with assets that are difficult to get off the market; not because they aren’t valuable but because their purchase is only accessible to a select group of individuals. When money doesn’t flow from assets, their economic potential is greatly diminished. The more liquid assets are made, the more economically vibrant the real estate sector becomes.
4. Single investments: The high capital requirement for real estate means that those who dare to be owners have a chunk of their investment portfolio consumed by a single asset. An asset that may well hold the owner’s finances at ransom. The idiom against putting all of one’s eggs in a single basket does not exist without reason.

It might seem ambitious that one app claims to, not only address but solve these problems but technological innovations are fueled by ambition.
Ellamediate’s solutions are simple yet profound, the fruit of in-depth research and technological experiments.
This proptech company is leveraging fractional ownership, smart contracts and a secondary market built on advanced blockchain technology to virtually eradicate these problems. And all these features are neatly tucked into a single application with an interface that makes it accessible to anyone.
Firstly, On the Ellamediate app, high-value real estate has its values converted into equal fractions which can be easily purchased and owned by different individuals; a great analogy for this is the way shares in a company are purchased. Each buyer co-owns the property and has a corresponding stake in capital gains or rental income that are accrued.
The revolutionary aspect of fractional ownership is that each owner has a utility token that represents the very real-life asset they possess. These tokens make it easier for owners to trade and exit the market for hard cash whenever the personal need arises; this trade occurs on Ellamediate’s secondary market, powered by blockchain technology.

Everything happens in at most, two-finger snaps, once an Ellamediate user indicates interest in an asset and moves to acquire it, the contract is automatically emailed for their signature. Smart contracts obliterate the time and cost lost to middlemen and regulatory issues.

Continue reading here
This article was first published on Medium.