It is time to put an end to the anxiety around the home buying process. Let’s make it safe and transparent!
Propy has one ultimate goal for 2019 – to continue making the process of buying or selling properties anywhere in the world faster and easier, hence close online securely from any digital device.
Last year, we recorded a number of historical real estate transactions on blockchain – it was a year of explosive innovation. Now it is time to build on that momentum and enter the year of growth and adoption.
Here are the steps that we will take this year, quarter by quarter, in order to tremendously improve the property buying experience while automating it. We will focus on developing further the transaction platform.
Propy for real estate professionals
Real estate professionals know best the impediments to buy a property. Propy’s Transaction Platform is used to close the entire real estate deal from your device, not to just browse properties for sale. The platform utilizes smart contracts to automate the purchase experience in the most secure way.
Buyers, sellers, agents – all can close deals fast, secure and online by signing all traditional paperwork on Propy via DocuSign. Agents benefit from functionalities such as ZipForms, disclosures, storage, offer submission capacity and automated reminders. With these tools that are fully integrated into Propy, all closing tasks such as making numerous calls, printing, signing, or scanning documents are executed with just a few clicks. Buyers usually spend only 15 minutes on our platform to close a deal!
We will continue developing the settlement layers inside the platform; adding more functionalities so that the role of the escrow could be easily and securely substituted in future transactions. All of the steps during the online sale are structured and executed so that the risk of wire transfer fraud is eliminated. Smart contracts automate the purchase process without compromising data security.
Propy is continually signing up new real estate partners such as brokerages, real estate developers, title companies, closing attorneys. They can take advantage of our Transaction Platform to close deals and also to use the first-ever blockchain-enabled Deed Registry. This is where pre- or post-recorded deeds, or any property ownership documents, are registered on the blockchain and have blockchain data on it. Because of the way data is added to the blockchain — like new links on a chain — the records cannot be altered, lost, stolen, or removed. Users get a permanent record of ownership transfer in parallel with the local authority. The Blockchain Deed Registry provides the blockchain address, which title agents and buyers can incorporate on the deed.
Buyers choose how to pay for the property
Since real estate is often the most significant transaction and investment of a lifetime, buyers should be able to choose how to pay for it. With Propy, you can buy a property using both fiat and cryptocurrency. You can use Bitcoin, Ether, XRP or Binance coin, or you can use traditional currency like US dollars, euros, pounds and 52 more (with or without loans). In 2019 we will also include stable coins.
Every new market brings a fresh perspective to the development of our global real estate platform
In 2018 Propy joined forces with global corporations in Asia, like Leju XHW and Sina. This year, we will add more corporate partners to our community, and we will expand into new markets. Propy’s business team has already started working with key real estate corporations to implement our SaaS product, which enables their clients to purchase properties remotely. By the time this year is over, the Transaction Platform will bring more efficiency to the end-user, while we are learning from their experience. We have also set a high target regarding the number of real estate sales we expect to see. Our goal is to reach at least a thousand transactions with a minimum of $200 million in volume within twenty months.
Propy’s government-agnostic Title Registry continues to be a tough contender for the future safeguarding of property ownership documents
Propy’s Title Registry is the first blockchain-based property record system built for governments and counties of its kind. It is where property ownership records are stored on the blockchain. Most of the changes you will see this year are technical improvements to make the product easier to use. In the meantime, if you want to see how it works, you can book a free demo now and see the video here: Title Registry.
We have a few more things up our sleeve for 2019…
Last year we managed to complete almost every task you can see on our 2018 roadmap, along with some other accomplishments during the year. Our team keeps accumulating talent and industry professionals inspired to change the future of the real estate. They are all experts in property, blockchain technology, cybersecurity, and legal matters.
The best minds in real estate have come together to create innovative solutions to critical industry issues. Plus, we have the valued support of advisors, like Michael Arrington (TechCrunch founder) and Barry Enderwick (11 years of marketing experience with Netflix). We are looking for talented and expressive VP of Sales and VP of Engineering to help to scale the sales and the product.
Another project we want to build up and elaborate is the Open Source initiative. We hope to connect with engineers and experts who are inspired by the digital revolution in real estate. Propy is open to cooperate with contributors on developing the Blockchain Explorer and we have also prepared some Propy tokens as rewards.
Do you want slick customer service?
We have streamlined communication across every channel. That includes utilizing email messages and SMS, communication via the website (including our mobile site), and instant messages within our iOS app. Notifications regarding your property deals will soon come through faster than they do now.
We want to hear from you!
Every year we meet more people like us who want faster and easier real estate transactions that carry less risk. Throughout 2019 we will announce new partnerships with major real estate agencies on Facebook, Twitter, and in our Telegram community.
As our list of premium partners continues to grow, we can move buyers and sellers away from the traditionally slow and stressful property purchases, while giving more choices about where to buy and how to pay. If you are a real estate professional and you want to help make the digital revolution happen, set up your account today or email our sales team.