HousingWireHousingWire
Real estate technology platform Propy is now enabling its users to handle property inspections without leaving its app. The San Francisco-based Propy has formed a partnership with property inspection platform Inspectify, according to a joint announcement on Tuesday.
Through this strategic partnership, Inspectify will be directly integrated with Propy’s platform— and users can access the features immediately. This pairing allows Propy users — most of whom are homebuyers or real estate agents — to access inspection reports and data to finalize transactions at a faster rate.
Before, users would have to order inspection reports outside of the Propy platform, delaying the closing process. But they can now order inspection reports with one click, quickly transfer the data from Inspectify and pay on a single website.
“This partnership with Inspectify is all about making life easier for our users,” Propy CEO Natalia Karayaneva said in a statement. “By keeping the inspection process within the Propy platform, we’re simplifying the home-buying journey and moving property settlements onchain without human off-line and off-chain interactions one step closer to the full potential.”
The full potential being referred to is Propy’s efforts to move into Web3 space, regarded by many as the next generation of the internet. Web3 uses blockchain technology to decentralize data and give multiple users access to information that cannot be altered without permission. Propy’s platform already relies on blockchain technology for most aspects of its real estate transactions. With this integration, users won’t have to go off chain to find inspection reports.
In a recent post on X, Karayaneva expressed her passion for blockchain technology’s use in the housing industry, describing real estate as “the best asset to decentralize after money.” She said that bringing real estate on chain could save billions of dollars per year for consumers on title transfers, title registries and other transaction steps.
Propy has closed about $10 billion of on-chain real estate transactions to date via its platform. The company has future plans to add remote notary scheduling to its features.
Inspectify leadership also expressed excitement about the partnership with Propy.
“We’ve always believed that the home inspection that happens at the time of home purchase is the most robust and complex data set that exists on homes today, but given how analogous the process has been historically, it’s nearly impossible to unlock its full potential,” Josh Jensen, CEO of Inspectify, said in a statement.
“Through this partnership with Propy, there is a tremendous opportunity to create more utility and value for homebuyers and ultimately the homeowners they are becoming.”
According to its website, Inspectify has provided $19 billion in home inspections since launching in 2019, speeding up the process for homebuyers nationwide.
