"We're excited to expand into the institutional market, where large real estate operators need infrastructure that can support closings at scale. With closing attorney Chris Boss joining us, we're accelerating Propy's adoption among REITs and institutional real estate investors nationwide."
"While conventional home sales can take 45 to 60 days to close, Propy cited that institutional investors frequently operate on timelines of five to 14 days. Florida represents one of the largest housing markets in the country, with roughly $154.6 billion in residential real estate transactions annually."
"We reached out to Propy because our clients were demanding blockchain security for title deeds. What we discovered was a company using AI and blockchain to make title and real estate better for everyone, the investors we serve and our team doing the work."
"Propy has been building a technology platform designed to automate parts of the closing and escrow process. Its systems use artificial intelligence (AI) to assist with tasks typically handled by title and escrow staff including document processing and transaction coordination."
Propy acquired Boss Law, a closing attorney firm in Florida, to accelerate expansion into the institutional real estate market. The acquisition supports Propy's strategy of integrating title and settlement operations with its technology platform. Institutional investors operate on five to 14-day closing timelines compared to conventional 45 to 60-day closings. Florida's $154.6 billion annual residential real estate market includes significant investor activity requiring high-volume transaction support. Propy's AI and blockchain platform automates closing and escrow processes, reducing manual workloads for title staff. The company's Avery system functions as an automated escrow officer managing closing workflows. Boss Law's clients demanded blockchain security for title deeds, aligning with Propy's technology capabilities.
#real-estate-technology #blockchain-and-ai #institutional-investment #title-and-settlement-operations #transaction-automation
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