CEO of eXp World Holdings Talks Propy

Propy recently hit Las Vegas to present its Transaction Management Platform at Inman Connect, a celebration of developments in residential real estate. As representatives held demos and answered questions from the crowd, Glenn Sanford stopped by the booth to share his thoughts on the company, its platform, and the industry’s future.

Meet Glenn Sanford

Sanford is the founder and CEO of eXp Realty, a cloud-based brokerage that leverages the latest in virtualization to enable its people to work from anywhere. The model, which cuts costs by delivering support and collaboration tools remotely, has peeled thousands of agents away from brick-and-mortar firms across the U.S. and Canada.

On Propy

According to Sanford, Propy is a “leader in the real estate space… pioneering what you can do in the transaction management piece.” Propy’s platform allows users to complete transactions online, accelerating time to closing while eliminating the possibility of email-based wire fraud. Once documents are signed, they are encrypted and stored on the blockchain, where they are safe from manipulation and yet available to all interested parties.

The Future of the Industry

Sanford expects tech-enabled transactions to become the norm. Thanks to developments in virtualization and the trend toward telework, “real estate is going to really spread out in terms of where people live.”

Indeed, millennials are choosing cities like Bakersfield in California over pricier hubs like Los Angeles and San Francisco. To keep up with the shift, successful agents will have to adopt technologies like virtual reality home tours, social media, and cloud-based practice management tools.

Make It Personal

The eXp CEO believes that real estate will always be “a people-to-people business.” He recommends that new agents learn the tech along with old-fashioned sales skills.

Indeed, companies like eXp Realty and Propy put software at the service of forward-looking agents and brokers. In Sanford’s view, the future belongs to those who can blend their tech-savvy skills with a familiar human touch.