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(NEW YORK, NY) – Stephen King is revolutionizing the real estate sector through the launch of imbrex, the first global real estate market on the Ethereum blockchain.
Currently, data exchange systems are fragmented. Third party platforms do not communicate with each other, however they continue to increase their rates. King is confident that imbrex will put an end to bad communications.
Who is Stephen King?
Stephen King works to combine technology at the forefront of real estate. He started commercial sales in 2009.
In 2012, he found himself with an expanding commercial brokerage firm and realized he was spending a lot of money on the listings.
Currently, you can share a list in three ways: download it as a PDF and send it via email, share it via a CRM system or send it to a third-party portal such as Zillow or StreetEasy.
Why do we do it this way? Simple, we use third-party portals to protect your listings. However, there is poor communication between platforms that cause repetitive data entry and loss of control of our data. King decided to solve this problem by creating an application that offers three elements: standardization, reliability and connectivity.
What is imbrex?
Allow us to introduce the exchange of data without human intervention.
The Tegula protocol, a data exchange mechanism, acts as a backend of imbrex and manages the exchange between agents, while ensuring the ownership of the list. The magic lies in the ability of imbrex to exclude third-party tampering. Imbrex is an application that allows you to communicate free with buyers, sellers and other agents on a single platform, without third-party advertising.
How does it work?
When an agent places a list on a blockchain, he establishes the digital fingerprint of the property through his address. This fingerprint is provided with a key that ensures that the list is controlled by the agent. The agent can use his own quote key to share information with imbrex or any other real estate application for exposure. It also provides the ability to revoke the key at any time, so as to unplug it from the future. This leads to two things:
- It puts the agent in control of their data. Determine who accesses the listing and when.
- They can move data between systems without duplicate list entry.
Once an agent has a fingerprint, he can use it to process transactions using smart contracts. Eventually, agents will be able to sell real estate through an intelligent contract and to process funds through the transaction room.
To make sure that imbrex can understand real estate language, King has partnered with the Real Estate Standards Organization. The organization has mapped 3,000 residential real estate terms. Imbrex uses the organization's data dictionary schema to better match language agents when posting their listings.
Who else can use it?
In addition to agents and companies, imbrex is ideal for potential buyers and sellers because it simplifies the process of data exchange. The application creates an agent-client relationship by connecting the client directly with the agent that sells the desired property. It also provides cleaner and more up-to-date list information because each property update is a transaction documented on the blockchain. This information can be mixed over time and resolved programmatically, thus ensuring accuracy.
Eventually, imbrex will be able to protect documents and manage all the necessary transactions in the transaction room. The one-stop shop will save customers money by eliminating third-party intermediaries.
Imbrex will also solve the problem of searching through stale directories, which is a growing problem for platforms such as Zillow and StreetEasy.
A promising future
Functionalities such as the token imbrex, a type of bitcoin, are used between agents, as a mechanism for exchanging values. Smart contracts can only process digital currencies. On imbrex, an agent can list a pocket list and qualify their leads programmatically by requesting payment and any other specified benchmark.
In addition, agents and members of the community will be rewarded for uploading information on quality quotation and for the care of those that could be fraudulent.
When can you create an account?
Starting January 15th, you can create an account on Imbrex.io.
Stephen is excited about the coming years and believes that it is time for the industry to undergo a data update. Imbrex is being launched at a time when legacy applications continue to increase rates.
"It's time to start treating customers like customers." – Stephen King
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