Smart Contracts for Real Estate Sales-A New Era of Efficiency and Transparency

Abstract

The technology of smart contracts will change the real estate sector forever through a greater efficiency and openness. The research investigates smart contracts as a possibility for dealing with real estate transactions, their elimination of the middleman, improved security and transparency of transactions. Besides the possibility of traditional procedures, smart contracts (self-executed agreements having the terms in the code of the contract) yield several benefits such as increased fraud prevention, automated execution of contracts, and immutable records. Through vivid examples of practical uses, this article points to legal and regulatory challenges to be addressed. It also underlines the working benefits of smart contracts in real estate. The paper’s conclusion consists of the investigation of the present boundaries and the descriptions of the further inquiries, emphasizing the possibility of smart contracts to be a game-changer in the real estate sector.