Blockchain making progress in agency market

Blockchain technology provider Coadjute has announced further progress with estate agency software vendors as it ramps up its efforts to connect the disparate parts of the home-moving process. Claiming to halve the time it takes to move home, it has announced Agent Hub, Power Bespoke, Rex and Veco by Eurolink will all join existing providers, including conveyancing case management providers Osprey and Redbrick Solutions, in their digital network.

Coadjute is a real-time network to speed up property transactions. Launched in July, it is the world’s first digital network to seamlessly connect the property market and give a synchronised view, end-to-end. All parties involved in a property deal – including the estate agent, conveyancer, mortgage lender and broker – will be able to track the live progress of the transaction from start to finish, from their existing software.

Coadjute’s technology acts as a ‘national grid’ for the property market, and will enable future innovations including digital identity, digital titles, and even digital settlement of funds. The use of blockchain technology will provide greater transparency, a reduced risk of fraud and an accelerated process with significantly less admin. Conveyancers will be able to protect sensitive client data by Coadjute’s encrypted network, which only the conveyancer and the receiving party can see.

The announcement follows similar links with platforms Dezrez, MRI, OpenView (VTUK), Reapit. Coadjute now claim the “majority of UK estate agents” and a “growing number of conveyancers” are set to be connected to the network; a key milestone in the digital transformation of the UK housing market.

Steve Dawkins, Chief Relationship Officer at Coadjute said

“By connecting their existing CRM software platforms to other parties in the property market, Coadjute delivers real efficiencies to busy Estate Agents who have better things to do. Our encrypted network enables them to securely share sensitive client data with ease, cutting time chasing for updates and making more time for revenue generating activity. We are proud to welcome Agent Hub, Power Bespoke, Rex and Veco to the rapidly expanding Coadjute community”.

Agent Hub’s Ashley McKella added

“Agent Hub is all about innovation and future-proofing. As a Salesforce partner, we offer unrivalled technology in sizable chunks and now partnering with Coadute will further help us demonstrate that. As we’ve seen it is now more important than ever before for not only individuals but also for businesses to unite by joining forces and bring their innovation together and work in partnerships. I’m very much looking forward to being part of the journey.”

Perry Power, Managing Director of Power Bespoke commented

“When it comes to industry changing tech, like Coadjute, I’m all in. I believe great tech is there to ‘enable’ the expert agent to become more productive and efficient, freeing up their time to focus more on personal improvement and delivering an even better client experience resulting in more recommendations, resulting in higher fees. That’s why we have built a totally custom CRM/platform for Power Bespoke and Coadjute is set to be a huge part.”

Anton Babkov, Rex CEO said

“Rex has been championing open data in the property industry for over 10 years. In that vein, we’re excited to see how the Coadjute platform helps streamline and consolidate what is often a fragmented sale process. Innovative data-sharing solutions like Coadjute are going to seriously uplift consumer transparency, empower agencies to provide exceptional customer service, and will help us deliver an even more efficient CRM experience.”

Richard Murray, CEO of Veco by Eurolink concluded,

“From the minute I met the Coadjute team, I was convinced that they had potentially cracked this massive challenge our industry has forever faced. Blockchain has always been the obvious technology to make this dream a reality, and it’s great that Coadjute have embraced it and are delivering a solution which can only benefit all involved in the transaction. We are excited to be working on this project with them and we, like them, hope that this is a pivotal moment which could revolutionise property transactions.”

Today's Conveyancer