The real estate industry suffers from a lot of paperwork, all intermediaries requiring their own set of documents. Therefore, even the most common activities in this industry are wasteful, archaic, opaque, and opens door for frauds.
With the help of blockchain, problems of fraud, opacity, and waste in terms of paperwork can be drastically reduced. The potential for smart contracts (an inherent feature of blockchain) is revolutionary. Even if one of the players tries to alter or forge the documents, it is easily discoverable by the other players, which leads to transparency. The process of payment also becomes easy through smart contracts as the contract is executed as soon as the payment is received by the seller.
A problem faced by sellers is that they have to look for a single buyer. This is also a problem as the entry level investment in real estate becomes very high.
Blockchain can potentially setup a new model in real estate industry wherein a large number of people can invest in a particular property through shares.