Blockchain Home Registry, built by the team behind Torri Homes, aims to offer consumers incentives for supplying real estate data.
New markets require new approaches and tactics. Experts and industry leaders take the stage at Inman Connect New York in January to help navigate the market shift — and prepare for the next one. Meet the moment and join us. Register here.
Blockchain Home Registry is a national property data resource for agents and consumers.
Platforms: Browser; iOS app
Ideal for: Brokerages; agents; homeowners; lenders; inspectors
Top selling points:
- Incentivized home data input
- Extensive home information reports
- Wide range of use cases
- Puts agents, owners in control of data
- Data sharing options
Top concern:
The company’s use of Blockchain to secure home data may cause those who aren’t aware of its benefits to be hesitant to submit data. It’s an unfortunate stigma of a highly proven and beneficial technology, but, the company may want to consider how it’s used in their marketing.
What you should know:
Blockchain Home Registry, or BHR, is designed, as the company puts it, to “assemble the world’s real estate data and make it accessible.” Consumers can claim their home by entering its detail, ranging from appliance types to neighborhood amenities.
In return, they’ll be issued an NFT securing their right to the information and justifying their compensation should someone want to access their home’s data. Use cases span agents use for marketing, home warranty companies, appraisal firms, risk evaluation, insurance underwriting or auto-refinancing mortgages, for example.
Agents can use BHR in turn to produce extensive Real Reports on each home submitted, whether for comps, marketing, opinions of value, etc. The over-arching goal of the software is to put control of housing data back into the hands of the people who actually own it.
I admit to being more enamored with the concept than the product itself. The two are not always one…