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Using Smart Contracts on the Ethereum Blockchain, MySmartProperty (MSP) will facilitate direct real estate transactions between buyers and sellers, with or without agents, all over the world via our MySmartProperty Token (MSPT) MSP will bring trust and integrity to these real estate transactions through patented technology which will establish true and fair value in a completely transparent and immutable manner. The Patents can be viewed on our website at mysmartproperty.io MySmartProperty™ has established a pilot program in Australia with a view to a worldwide rollout using the MSP Trading Platform. Australia’s real estate has a total net value of around AU$7.3trillion* with annual sales of AU$340billion. These sales generate over AU$14billion in real estate commission and advertising every year. For most people, these transactions involve their largest financial asset, and yet the agents who facilitate these sales are not highly trusted. According to Roy Morgan Research (2017), agents have a lowly 7% rating for ethics and honesty. A further concerning aspect to this very poor rating is that it’s actually getting worse over time. This can be seen by viewing the 2013 survey results which show agents had a rating of 12% at that time. So, what is at the core of this terrible rating? Why do the public view agents with such suspicion and mistrust? From our research it’s clear there is a general belief that most agents put their own interests before those of their clients and the ‘exclusive agency’ system is at the core of this conflict. MSP will not only bring that missing trust and integrity to the industry, but will also help to establish a true and fair value for both the buyer and seller in each and every transaction.
