Re/Max Revolution in Boston is partnering with ShelterZoom, a real estate technology platform, in a bid to allow buyers and their agents to make home offers more securely and efficiently through blockchain technology.
Through the startup’s “Offer Now” and “Rent Now” widgets, homebuyers will now be able to scour listings on the franchisee’s website, then make offers from the comfort of their laptops, executives from both companies told Inman.
“It’s streamlining the process for both buyers and sellers when presenting offers and in an area of real estate that’s oftentimes vague and convoluted,” said Mike DelRose Jr., who leads Re/Max Revolution’s full service real estate team in the greater Boston metro area.
Blockchain, the underlying virtual ledger behind cryptocurrency, is the guiding force behind ShelterZoom’s product. The company’s ‘Offer Now’ and ‘Rent Now’ widgets allow homebuyers to make property offers online through blockchain and Ethereum smart contract technology.
As part of the partnership with DelRose, buyers will now be able to search through online listings and make offers securely. Clicking on the widgets leads them to a larger online platform that keeps track of offers, allows buyers and sellers to interact and sign documents and provides updates on the status of the offer. ShelterZoom has also updated its site for easier access to the platform and widgets, which are currently free to install.
“With any real estate transaction, you have a lot of documents,” ShelterZoom cofounder Chao Cheng-Shorland said. “We hope to facilitate that process.”
Since launching in 2017, ShelterZoom has grown rapidly, drawing users from more than two dozen countries while partnering with 50 firms and brokerages including Silicon Beach Homes, Keller Williams Realty Landmark , Realty World Atlas and EXP North Houston Realty. It is also currently translating the platform for Spanish users and has received three awards as an emerging technology talent this year.
According to ShelterZoom co-founder Allen Alishahi, the company’s success can be attributed to the real estate industry’s increasing recognition of blockchain and its potential use as a permanent ledger for transactions.
“We cannot believe how the paradigm has shifted,” Alishahi told Inman. “Initially, when we talked about blockchain, people didn’t even know about it. Now, I have feeling we’ve reached a critical mass of people who understand how secure and tamper-proof it is.”