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Propy operates a real estate marketplace intended to streamline home purchasing worldwide, through the deployment of smart contracts on the blockchain. The marketplace is based on a listing and transaction platform, alongside a blockchain title registry assisting buyers, sellers, agents, and title companies in performing the transaction paperwork in an online process, allowing brokers and agents to close deals online.
Brokerages can utilize the Propy SaaS platform for automated notifications, e-signatures, custom analytics reports, and compliance tracking to ensure that property deals are closed. In addition, users can track and manage the different phases of real estate transactions. Other features include commission management, MLS integration, cloud storage, payments, and others.
In 2022, the Web3 real estate company launched title and escrow services on blockchain for transactions in Florida, Arizona, and Colorado.
Propy's founder and CEO, Natalia Karayaneva, said:
"We had already built the next-generation closing platform in which smart contracts play the role of the escrow and title is recorded on the blockchain. Launching the escrow and title business now brings us closer to our dream of closing more and more transactions in a secure blockchain environment."
