Transforming Real Estate Investment with Phaeton Real Estate Platform

As the lead UX designer for the Phaeton Real Estate Platform, my strategic design decisions resulted in a remarkable 72% positive user feedback, illustrating the platform's intuitive interfaces and streamlined processes. This user-centric approach gathered enthusiastic responses and contributed to a 27% competitive edge, setting Phaeton apart as a frontrunner in the blockchain-driven real estate market.

Investing Platform Utilizing Semi-Fungible Tokens

Phaeton Real Estate Tangible Non-Fungible Tokens (TNFTs) Marketplace is a "Sidechain" of Phaeton Blockchain. It is a marketplace where real estate developers and investors can trade TNFTs. It is also a type of "crowdfunding" in which sponsors and developers can create tokens of real estate projects and sell them on the marketplace.

I was tasked with crafting a platform that would disrupt the real estate industry, enabling users to invest in properties using Pheaton TNFTs. My role in this client project covered all aspects of UX design, from concept to final design prototyping and testing.


Part 1: Designing the Real Estate Listing and Transaction Platform for Developers:

For this project, we created a platform tailored to real estate developers, enabling them to list properties and engage in transactions.


Part 2: Designing the Investment and Trading Platform for Investors:

The second phase of our project revolved around designing a user-friendly platform for investors, facilitating their ability to purchase and trade real estate properties using Cryptons.

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Project Details

  1. Understanding user behaviors and preferences was crucial to balancing design complexity and simplicity. The interface needed user-centric design and iterative testing to appeal to diverse user profiles.

  2. Iterative design based on user feedback was key to success. The team's resilience and adaptability in the dynamic blockchain and real estate technology landscape were strengthened by accepting feedback as a tool for improvement.


Major Challenges

Balancing Complexity and Simplicity: Providing investors with comprehensive information and a user-friendly interface was a constant challenge during design.

Educating Users on Blockchain: Effective platform communication was needed to educate real estate developers and investors about blockchain technology.

Overcoming Skepticism: To gain trust from traditional real estate stakeholders and investors unfamiliar with blockchain technology, strategic communication was needed.

User Onboarding: User guidance and education were needed to ease crypto investment and blockchain transaction onboarding for new users.

Continuous Iterations: Adapting to user feedback during the iterative design process required agility and responsiveness.

Key Learnings

Design Process

Key Insights

Security - Simplicity - Supportivity

Real Estate Developer Interface:

Listing Preferences: They prioritize location, financial and legal when listing a property, indicating a need for a straightforward listing process with prominent fields for these details.

Transaction Process: The current transaction process involves extensive paperwork and legal considerations. Streamlining this process could significantly improve efficiency.

Legal and Compliance Requirements: They seek a platform that offers clear guidance on compliance and streamlines the documentation process to ensure legal requirements are met.


Real Estate Investor Interface:

Investor Profiles: They can be categorized into different profiles based on their risk tolerance and investment goals. While some seek long term investments for stability, others are open to higher risk opportunities for potential high returns.

Information Preferences: They prioritize detailed property information, historical performance data, and potential returns. Providing comprehensive data and analytics tools within the platform will enhance their ability to make informed investment decisions.

Decision Making Factors: They heavily weigh factors such as location, property condition, and expected returns when deciding to invest. The platform should emphasize these key factors in property listings and offer tools for risk assessment.

Risk Perception: There is a varying degree of understanding and acceptance of blockchain technology among investors.


Common  for Both Interfaces:

Blockchain Understanding: While some users have a solid understanding of blockchain technology, others may need educational resources. 

User Education: Both developers and investors express the need for educational resources within the platform.

Security Concerns: Security is a paramount concern for both parties.

Final Designs and Features

Streamlined Listing Process:

Feature: Intuitive listing wizard with prominent fields for location, finances, and key property details, facilitating a straightforward listing process for developers.

#For Developers

Compliance Guidance:

Feature: In-platform resources and guides that offer clear and concise information on local real estate regulations, ensuring developers stay compliant throughout the listing and transaction processes.

Transaction Management:

Feature: Centralized transaction management dashboard for developers, providing a clear overview of ongoing transactions, milestones, and necessary documentation.

#For Investors

Comprehensive Property Information:

Features: Detailed property pages providing comprehensive information, historical performance data, and potential returns, empowering investors to make well-informed investment decisions.

Risk Assessment Tools:

Features: Tools and visualizations for risk assessment allow investors to evaluate factors such as location, property condition, and expected returns to make informed investment decisions. Along with the option to talk to an expert.

Transaction Management:

Feature: Centralized transaction management dashboard for investors, providing a clear overview of ongoing transactions, milestones, and necessary documentation.

#Common Features for Both Interfaces

Security Enhancements:

  • Feature: Multi-factor authentication to bolster platform security and address concerns raised by both developers and investors about the safety of their transactions and data.

  1. Educational Hub:

    • Feature: A dedicated section offering educational content about blockchain technology, real estate transactions, and platform usage to address varying levels of understanding among users.

  2. Integration Opportunities:

    • Feature: Integration capabilities with commonly used tools and platforms in the real estate industry, such as accounting software or CRM systems, to streamline processes for both developers and investors.

  3. Real-Time Analytics Dashboard:

    • Feature: An analytics dashboard providing real-time insights into market trends, property performance, and transaction history, benefiting both developers and investors in making data-driven decisions.

  4. Documentation Management:

    • Feature: Secure document storage and management tools for both developers and investors to upload, verify, and access necessary legal and transactional documents.

  5. User Support Center:

    • Feature: A user-friendly support center providing real-time assistance, FAQs, and live chat support to address any queries or concerns raised by developers and investors during their platform experience.

Team:

Product Designers: 3

Developers: 6

QA Engineers: 1

Project Manager: 1

Marketing Team: 3

Stakeholders: 2

Results

The Phaeton Real Estate Platform has seen tremendous success, with 72% positive user feedback and accelerated adoption rates. The platform's user-friendly interfaces and transparent blockchain transactions have won over users. This increased user satisfaction is reflected in increased transaction volumes, which directly contributes to revenue growth. Phaeton's commitment to continuous improvement has resulted in high user retention rates, establishing the platform as a trusted choice for real estate transactions and positioning it for long-term success in a competitive market.