One international real estate start-up based in New York has taken its blockchain-based platform live in the US, with other international markets, including Australia, set to go live in the first quarter of 2018.
ShelterZoom is built to be compliant to the Data Dictionary of the Real Estate Standards Organization (RESO) and is designed to “significantly” refine the process of making real estate offers.
The ShelterZoom platform includes an online offer and acceptance dashboard, an Offer Now widget and a mobile app available on iTunes and Google Play. It enables buyers and buyers’ agents to submit offers with just a few clicks or screen taps.
The blockchain platform was founded by Chao Cheng-Shorland and Amir Allen Alishahi.
Chao Cheng-Shorland said that blockchain is fast entering the mainstream and will continue to do so.
“Standardised, interoperable, transparent and secure offers are the future of the business,” the founder said.
“That’s why we are so excited about rolling out to early adopters ranging from small to large brokerage firms and multi-listing services.
“The adoption of ShelterZoom’s widgets by any real estate website means that the industry can truly become innovative.”
Using the platform, users can track and aggregate as well as accept, reject or counter offers in real time.
All parties can also receive push or text notifications throughout the offer process and chat with one another according to established protocols.
ShelterZoom technical advisor Sergey Fradkov said that he expects to see rapid adoption of blockchain technology by the industry in Australia and around the world.
“Blockchain and related cryptocurrency implementations will enable new business models and streamline interactions between participants,” Mr Fradkov said.
“They will also enable new participants to quickly establish themselves in the industry segments and create many new business opportunities.”
ShelterZoom is a privately held, early-stage real estate technology start-up headquartered in New York City.