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Trust Stamp, a company whose artificial intelligence (AI) software helps verify a person’s identity, announced at the National Association of Realtors (NAR) Conference & Expo in Chicago that its safety and identification app is now free for all Realtors.
NAR recently announced that it has doubled-down on its commitment to Trust Stamp with a second investment. The app, first championed by NAR in 2016 as a member of its REach technology accelerator program, was recognized for its blockchain-backed ability to apply AI to a mix of public records data and social media to produce personalized “Trust Scores” for new contacts.
“Trust Stamp is an innovative company, and this tool will bring great value to our members and improve their safety, which is so important for what they do,” NAR CEO Bob Goldberg said in a statement.
The app works when users are invited to enter personal information, which remains secure within the app until viewed by the agent.
The process includes taking a selfie, capturing a government issued ID and connecting at least one active social media account.
A person’s Trust Score is then rendered on the agent’s end using a color scale. Green indicates a high level of trustworthiness; amber is questionable; and red indicates the person should not be met.
A person’s data is deleted entirely from the app after verification by the agent.
“I’m pleased that this innovative identification verification tool will now be free to all 1.3 million Realtors,” said NAR President Elizabeth Mendenhall. “Safety for our members is a top concern, and this is another great tool that Realtors can use to protect themselves when meeting strangers and new clients.”
As tight markets and big data-driven lead generators are rapidly connecting agents and consumers, agent safety has seemed to become a hot topic. Neighborhood dinner parties and soccer team carpools are no longer prospecting norms, and the safety conversation is being had more today than in years past as agents transact with complete strangers.
Additionally, a lawsuit filed by the family of the late Realtor Beverly Carter against her former broker has put a spotlight on the risks associated with meeting new people at homes for the first time.
“There is no issue of greater importance than the safety of real estate professionals and their clients,” said Trust Stamp co-founder Gareth Genner.
“Perhaps even more concerning than an absence of safe practices, are products that create an illusion of safety.
“While there is nothing that can displace sensible precautions, we hope that NAR’s investment, and our making Trust Stamp free for Realtors, will reinforce the need to us a thoughtfully designed process and remove any financial disincentive,” he added.