Propy

Propy automates property transactions for brokers, agents, title companies, and their clients. The company states that it can save users around 10 hours on each transaction. It currently offers the following products:

1) Offer management: this service enables sellers’ agents to receive notifications for every offer made by buyers. Agents can reject, counter the offer or accept it.

2) Consumer transaction interface: this interface allows all relevant parties (buyers, sellers, and title and escrow companies) to participate in the transactions. Each participant will be notified if they have to take specific actions, such as signing and approving documents so that the transaction can be executed instantly. The company integrates its system with DocuSign so clients can perform digital signing.

3) Transaction management: this solution allows participants to track and manage every stage of the transactions. It also allows participants to upload, download, and forward documents at any time.

4) Blockchain powered platform: tokenization of real estate transactions, smart contracts and blockchain-based title and escrow services.

The company generates revenue by charging monthly subscription fees to agents and brokers.

In January 2022, Propy launched an NFT platform in the US. The platform claims this speeds up the home buying process when real-estate properties are tokenized into NFTs on the blockchain. The simplified process places ownership documents on-chain and verifies ownership transfer records using blockchain technology that helps to close real estate transactions faster. Propy launched Propykeys, a gamified application within the Propy ecosystem, with a market for minting home addresses as non-fungible tokens (NFTs) on the blockchain in January 2024.

Key customers and partnerships

In October 2024, Propy partnered with property inspection platform Inspectify to integrate home inspection services into Propy's blockchain-based transactions. In July 2024, Propy partnered with Parcl, a real estate investment platform built on Solana, to improve data analytics for valuing properties minted on PropyKeys. In December 2021, Propy announced its expansion to the MENA region through a strategic partnership, which will operate as ‘Propy MENA’. Propy MENA, will be launching as part of this expansion strategy to deliver a blockchain-powered real estate platform for the MENA region.