THE TRUST REVOLUTION IN REAL ESTATE: THE BLOCKED ACCOUNT SALES SYSTEM IS CHANGING THE GAME IN TÜRKİYE

A New Era in Real Estate Sales in Türkiye:
Why Is the “Blocked Account Sales System” Important?

The real estate sector in Türkiye has faced the same question for many years:
Should the title deed be transferred first, or should the money be sent first?

This question has created a serious trust problem between buyers and sellers for years.

Real estate fraud, fake payment receipts, and deposit disputes have become major problems in the sector.

At this very point, a model that has been increasingly discussed in Türkiye in recent years is emerging:

The Blocked Account Sales System.

What Is the Blocked Account Sales System?

The blocked account sales system is a method used as a secure payment system in real estate transactions, in which the payment is held in a secure account at the bank and is not transferred to the seller before the title deed transfer takes place.

This model provides an important solution particularly in terms of title deed transfer and payment security.

The system works with a simple logic:

• The buyer deposits the sale amount into a secure account opened at the bank
•  This money is placed under a block by the bank
• The title deed transfer takes place
• Once the title deed transfer is approved, the money is automatically transferred to the seller’s account

In this way, neither the buyer nor the seller takes a risk.

Why Has This System Come to the Agenda in Türkiye?

In Türkiye’s real estate market and property sales processes, three fundamental risks have been discussed for many years:

• Fake receipt fraud
• Sellers disappearing after receiving a deposit
• Payment not being made after the title deed transfer

This situation created serious trust problems, especially in real estate transactions worth millions of lira in large cities.

The blocked account system aims to solve this problem through a secure payment model that operates with banking infrastructure.

How Does the World Solve This Problem?

In fact, this model is not new in the world.

In the United States, the United Kingdom, and Europe, a system has been used for many years:

The Escrow system.

In the escrow model, the money is first held by an independent financial institution and is released when the transaction is completed.

This system is widely used especially in international real estate transactions and secure property sales.

In Türkiye, various secure payment systems for real estate have begun to be developed as an equivalent to this model.

What Will Change for the Real Estate Sector?

The widespread adoption of the blocked account sales system may create three important transformations in the real estate sector in Türkiye:

• The Trust Problem Will Decrease
  The most critical issue in real estate sales is trust.
  The blocked payment model can significantly reduce trust problems between the parties.
• Institutionalization Will Increase
  Instead of individual and informal sales, real estate transactions that operate more integrated with the banking system will emerge.
• Digital Real Estate Platforms Will Strengthen
  PropTech (Property Technology) based digital real estate platforms that combine valuation, data analysis, and secure payment systems will become stronger.

The Future of Real Estate: Data + Trust + Technology

The real estate sector is no longer an area where only land, buildings, and square meters are discussed.

Today, real estate technologies (PropTech) are becoming one of the most important areas shaping the transformation of the sector worldwide.

This transformation is shaped around three main axes:

• Data analytics
• Digital valuation systems
• Secure payment infrastructures

Digital real estate platforms that can correctly interpret this transformation will play a decisive role in the sector in the future.

The blocked account sales system may still be a model that has only recently begun to be discussed in Türkiye.

However, one fact is clear:

The real estate sector in Türkiye will no longer be shaped only by listing websites, but also by financial security systems, data analytics, and digital infrastructures.

Those who can correctly interpret this transformation will have a voice in the future of the sector.

Mustafa Yılmaz

CEO – Anadolu Properties

Avrupa – Türkiye Yatırım Köprüsü