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Real Estate Technology

The future is now: Invest in real estate using cryptocurrency

(TECHNOLOGY NEWS) Real estate is going on trend and through REAL, investors can now use cryptocurrency to invest in real estate.

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Real Estate Asset Ledger

The cleverly acronymed Real Estate Asset Ledger (REAL) is important, because it’s one of the first instances ever of a seamless platform for investing cryptocurrency in real estate. Blockchain solutions have been nibbling around the edges of the real estate market for a while. That’s still a big deal. We’ve reported on it.

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But involvement has been limited. We’ve noted limited applications of blockchain tech to specific real estate issues like listing databases or mortgage payments. There’s been no large-scale attempt to buy into the real estate market as a whole.

REAL solution

Meet REAL. REAL is interested in the big show: making it possible to invest in and even purchase real estate with cryptocurrency. That’s new.

In fact, it’s new two ways. Not only is it, y’know, using a completely new form of money, it’s doing it in a way that’s still drawing open-mouth stares from Realtors and commentators alike when it’s being done with normal dead-tree/president money. That would be low-equity investment.

TL;DR on low-equity investment, or to use REAL’s term, “real estate crowdfunding,” goes like this. Instead of a single party owning a given piece of real estate and selling it to another via a structured series of payments secured with collateral (or “mortgage”; you may have heard of it) a group of investors, not necessarily connected, buy shares in real estate like any other investment and profit from any rise in value.

REAL is a real estate crowdfunding platform.

It lists properties interested in being crowdfunded, accepts investments in REAL Tokens, its in-house cryptocurrency, and pays out in Ether, a more widely used cryptocurrency, to be spent on cars and sandwiches and things.

So the REAL offer is twofold: cryptocurrency and crowdfunding. Rad. Who cares?

Pro cryptocurrency

REAL’s argument for cryptocurrency is pretty much the same as NAR’s, as explained here: real estate requires investment, and cryptocurrency is a giant pile of value no other investment space has seriously leveraged yet.

Investors with limited options get a huge chance to profit, real estate gets committed investors – win-win.

Their argument for crowdfunding, however, goes a step beyond. I have previously waxed lyrical on the benefits of distributed risk. That’s always been the problem with mortgages as a financial tool: failure sucks, hard, for everyone. Having multiple investors rather than a single mortgage means a bunch of people benefit when things go well, and one person isn’t left holding the bag when things don’t. That provides means to forego conventional foreclosure, since all investors, occupants included, have a vested interest in the property getting more valuable and don’t lose everything if things go south.

That’s good news both for the P&L sheet and the soul. Due respect to our Dickens villain readership, most real estate professionals don’t actually like making people homeless.

REAL identifies a plus that didn’t occur to me, because, for once in my digital life, I wasn’t thinking in terms of blockchain. Crypto plus crowdfunding equals international.

Being peer to peer, cryptocurrency values are determined between people directly.

They don’t care about borders. There’s no difference between an American REAL Token and a Chinese one. Real estate crowdfunding alone was worth $3.5 billion last year. Forbes estimates the global crowdfunding industry as a whole at $300 billion by 2025. That’s a lotta tokens.

What’s to come

Whether REAL’s model is the best way to take advantage of that is an open question. What isn’t is that both crowdfunding and cryptocurrency will be a part of the real estate market in the coming years. Plan accordingly.

#REALinvestment

Matt Salter is a writer and former fundraising and communications officer for nonprofit organizations, including Volunteers of America and PICO National Network. He’s excited to put his knowledge of fundraising, marketing, and all things digital to work for your reading enjoyment. When not writing about himself in the third person, Matt enjoys horror movies and tabletop gaming, and can usually be found somewhere in the DFW Metroplex with WiFi and a good all-day breakfast.

Real Estate Technology

New tool translates your phone calls into 29 languages – LIVE

(REAL ESTATE TECHNOLOGY) There’s no need for a language to language dictionary any longer. A lingvanex tool allows for real-time translation on phone calls in different languages.

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lingvanex translates in real time

If you’ve read a few things that I’ve written on here, you know that I often marvel at how far remote work has come. The fact that I write this as my dog sits beside me is no small feat.

What teams can accomplish in a virtual setting is pretty impressive, and tools like Slack and Trello are very helpful in this regard. However, remote workers still utilize the tried and true phone call as it remains a tool of efficiency.

This can be especially helpful if you’re working with team members or clients in other countries when a translator may need to be involved. This concept was the inspiration behind the Lingvanex Phone Call Translator.

The new tool translates voice calls into 29 different languages in real time. Working on both mobile phones and landlines, users can call countries all around the world (150 countries in total are available through the app).

This option is cheaper than roaming calls, starting at 18 cents per minute through use of VoIP. The conversation is then transcribed in real time with the details of the conversation being available only to the user, as Lingvanex does not store conversation data.

“We are happy to represent you the Phone Call Translator – a real-time voice translator, which was created to help in solving questions in travel situations and urgent business problems with foreigners or help in communicating with friends abroad,” says Lingvanex. “You can speak your native language when you call through the app. Your partner and you will hear the translation of both callers during the call, the original speech and translation will also be duplicated on the phone screen.”

The app works in a few simple steps: first, download to your device (works on both Android and iOS). Next, register and create application account – during this, you’ll select your default language. Then, you will select the language of the person you are calling. Make the call by dialing the phone number with the country code. Finally, chat it up walkie-talkie style.

Say what you need to say, then Phone Call Translator takes your words and transcribes them for the person on the other end. This could be very helpful as it gives you an extra moment to think about what to say next!

Do you think this will be helpful for you? Let us know below!

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Real Estate Technology

Should digital assistants have empathy? Big investors say yes

(REAL ESTATE TECHNOLOGY) Bonding with your digital assistant might be more likely than you expect with ElliQ. The rising numbers of AI assistants have created unique interactions.

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ElliQ assistant

It sounds crazy to think that you could form an actual bond with something like Siri or Alexa, but actually, humans are pretty dang good at forming emotional connections to machines. For instance, a Canadian company threw an entire retirement party for five mail delivery bots. People will use Roombas as a substitute for companionship, not unlike a cat or dog. Humans just seem to enjoy connection – even if it’s with a lifeless robot.

Intuition Robotics is taking this desire for emotional connection a step further by working to create digital assistants that can more easily bond with their human companions. At the moment, their biggest product is ElliQ, a robotic digital assistant designed to bond with eldery users. In fact, according to Intuition Robotics, their average demographic falls between ages 78 – 97.

And ElliQ seems to be doing its job. The company reports that customers interact with ElliQ regularly throughout the day, even holding conversations with the machine, and are more likely to listen to ElliQ’s suggestions, which often include proactive behavior like getting outdoors or eating more vegetables.

By working to create a more empathetic and emotional digital AI, Intuition Robotics has started to discover a whole world of new possibilities. And they’re just getting started, having recently raised another $36 million to continue research.

One of their plans? Combining these empathetic digital assistants with the automotive industry.

Imagine an assistant that could suggest you pull over when it senses you’re getting drowsy, or provide something to talk to during longer drives. Plus, unlike ElliQ, which stays put while you move around, you and the assistant will be together in a car, making it easier for the AI to learn your preferences and habits.

Of course, this is just the tip of the iceberg for Intuition Robotics, which has recently majorly expanded its workforce. A digital assistant that can provide a better emotional connection to humans has a world of possible applications, from nursing homes to elementary schools.

Don’t get me wrong, there are plenty of reasons to be worried about a more empathetic AI – the marketing capabilities alone are something I’m side-eyeing. That said, humans have been befriending vacuum cleaners and we’ve turned out alright, so for now, let’s focus on the positive possibilities that could come with tech from companies like Intuition Robotics.

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Real Estate Technology

Moving just got a lot easier with this NAR invested app

(REAL ESTATE TECHNOLOGY) Worried about moving? There’s an app for that, updater, and NAR has taken notice. They want to help their customers from beginning to end.

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updater app

Moving isn’t exactly a walk in the park. There’s coordinating movers, finding boxes, cancelling services, changing your mailing address on, well, everything, and that’s just the tip of the iceberg! With so much to do, it’s easy to get overwhelmed but good news: turns out, there’s an app for that. And it’s promising enough that the National Association of Realtors® (NAR) have invested in it.

The app in question is Updater, which serves as a one-stop shop for everything you’d need for a move. Not only can the app help you craft your moving “to-do” list, but with its connection to all sorts of businesses involved in the moving process (from moving truck companies to cable services) you can keep all your prep in one place. Essentially, Updater is designed to make moving as stress-free as possible.

Updater’s current successes have drawn Second Century Ventures, the venture capital section of NAR, to invest in Updater. Which is cool, but why would a company focused on realtors want to help a company that focuses on what happens after a realtor has done their job?

“Updater’s platform delivers unique value to Realtors®, property managers and consumers alike,” said Mark Birschbach, senior VP of Strategic Business at NAR, “This investment is well aligned with SCV’s mission to support and advance technologies throughout the entire real estate ecosystem.”

Plus, Updater is a great tool for realtors to have in their back pocket. If a client seems nervous about moving or overwhelmed, Updater is a great recommendation. Not only does it help the mover, but it shows that the realtor cares about their client’s well-being, even after the deed is signed.

So, what’s next for Updater? Growth. Recently, Updater acquired Bridgevine, a company that works with home subscription services like cable and internet. This merger will allow Updater to offer more options to users while also increasing their reach. This is the first in what will likely be many growth initiatives for Updater.

David Greenberg, founder and CEO of Updater, is also looking forward to the partnership with NAR. “We’re excited to deepen our great relationship with SCV and NAR by investing heavily in the real estate industry and by enabling Realtors® and property managers to deliver an unrivaled moving experience.”

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