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A unique real estate search platform powered by blockchain, whose aim is to create a no-portal future for real estate, was launched last week at the Myriad festival in Brisbane.
The creators of blockchain platform Propify were invited to present at Myriad Brisbane, a meeting of the world’s most acclaimed innovators, entrepreneurs and venture capitalists.
CEO of Propify Joel Leslie said that Propify was a world first and that they were streets ahead of the competition.
“Propify is the first worldwide real estate search blockchain,” Mr Leslie said.
“The path to develop blockchain-related technology is substantial and we are at least 24–48 months ahead of other entities attempting to build [something] similar to Propify.”
Managing director of Propify Stephen Sharry said that their research had led them to create a no-portal model which would change the way that property is marketed.
“The first thing we are going with is a dashboard for real estate agents. Our research found that 75 per cent of property inquirers came from social media and the agents themselves, so we wanted to tap into that market” Mr Sharry said.
Mr Sharry said that their automated system worked where the buyers and sellers were and would allow for agents to attract more people.
“The dashboard we have created will allow an agent to put in a property and post it. The system will then reinterpret the posting and change it into the format for each social media challenge,” Mr Sharry said.
Propify’s aim was not to partner with the big portals like realestate.com.au or Domain but was instead to target individual agents.
“Our aim is not to align ourselves currently. We are just looking at releasing it for individual agents to use. We just believe it’s the future,” the MD said.
Mr Sharry said that the decision to use blockchain to power Propify was due to the immutability of the technology.
By using blockchain from the start, it would allow Propify to develop the technology that would improve Propify’s eventual end-to-end capability.
“Eventually, our long-term aim is to take the transaction all the way through the blockchain through to settlement and then hopefully through to advice for title transfer,” the MD said.
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