iBuyers, Blockchain Mortgages, and Certainty as a Service: AEC Hackathon Discovers the Real Estate Industry

AEC Hackathon is a grassroots technology event that has been meeting occasionally in cities around the globe since 2012. At AEC Hackathon #41, in Seattle in April 2019, the real estate and construction finance industries were represented for the first time.

The attached video is a wide-ranging panel discussion bringing contemporary software tech to real estate and fintech. Topics include “Certainty as a Service” to the potential of blockchain technology to sort out the residential financial services supply chain.

Drew Meyers of Geek Estate defined Certainty as a Service happening when Real Estate sales agencies buy houses and build an inventory, as opposed to only representing owners in the sales transaction. Meyers said Certainty as a Service was being driven by “ibuyers,” busy young professionals who want to choose a house online and close the deal instantly, instead of touring homes for weeks or months only to be beat by a competing bid when they make a selection.

Such fast-paced buying may be one way blockchain technology makes an impact on the real estate industry, says Mollie Fadule, a partner at equity and venture capital firm Cephas Partners. “Digital trading is coming,” Fadule says, as real estate and financial transaction technologies merge. The question becomes, “how do we use ownership to track and support” all stages of the financial side of AEC.

The video is 1 hour.

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