More real estate companies are engaging in digital real estate transactions

February 15, Nomura Real Estate Solutions announced its participation in a joint research project led by Escrow Agent Japan (AEM) and cyberlinks for the complete online settlement of real estate transactions of sale and purchase using My number cards.

The research aims to develop a service that can be used consistently by sellers, buyers, real estate agents, court scrutineers and other parties by incorporating the functions of digital certificates based on the public personal authentication infrastructure. of Cyberlinks in the EAJ transaction system.

The first phase of the project, a desktop simulation, was conducted from August to December 2021 to identify issues related to the computerization of documents processed in real estate brokerage and registration practices, and to verify a hypothetical model of a fully online workflow.

As a result, it was found that in addition to sales contracts and explanatory documentation on important matters, other financial and administrative documents such as loan agreements and fixed asset tax assessment certificates also needed to be digitized.

Based on this observation, the three companies have defined a six-step roadmap for the complete online real estate transaction.

From April 2022, online transactions will be conducted for property purchases where Nomura as a company itself is the buyer, with further rollout to the general public once the three companies have resolved any unforeseen workflow and transaction issues.

Further reading

Joint Nomura / EAJ / Cyberlinks press release (Japanese only; February 2022)

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