Hello imbrex community,
Two very exciting announcements today!
First on Friday, imbrex was awarded the 2018 SV Insights Innovation Award at the Blockchain Connect Conference! The event took place in San Francisco and the response from the development community was humbling. We want to thank you for your support, without which imbrex would not possible.
Second, today marks another important milestone for imbrex with the transition from alpha to beta! We launched alpha last July with support from Toll Brothers in addition to agents and firms from over twenty-nine states. Through the last six months of feedback, we learned that in order for our community to benefit from imbrex without disrupting their day-to-day business with education, we needed to rethink our user experience.
Every real estate transaction starts with a listing, so we started there too. First, we redesigned the listing input form to be minimalist (we think elegant), while supporting the many fields and values necessary to properly market a listing. Our data model is RESO-compliant and references what agents typically see in their local Multiple Listing Services (MLSs). Then, we enhanced the listing details page (that’s the page buyers land on when they find a property listing that interests them), spotlighting the listing agent, and only the listing agent, at the top of their listing page. This eliminates confusion caused by third-party advertising and the frustration buyers feel when they reach out to the wrong agent.
Next, we streamlined the signup process. Agents can now use Facebook, Twitter, Google or LinkedIn as a signup/sign-in method, and you no longer need to create a web3 wallet at signup. The only time it’s necessary to create a wallet is when you want to use REX tokens within the application or to send REX tokens from imbrex to another application. Go ahead and list, and even participate in imbrex’s Listing Curation features, without a wallet.
All listings are now automatically entered into the Listing Rewards process, where, if your listing successfully completes the 30-day Community Audit period without being flagged, you will earn Listing Rewards in the form of REX tokens.
During the 30-day Community Audit period, Listing Curators can flag a listing if they believe it contains stale or misleading property information. This sends the listing into an arbitration period where the community of Listing Curators can vote on whether they believe the listing deserved that flag. Whichever side has the most votes then succeeds in labeling the listing as “Verified” or “Spam” and are eligible to claim REX tokens as a reward. Those REX tokens can be claimed by creating a wallet address from the wallet page. When you’re ready.
Last, and maybe the most important when building a global real estate data marketplace, users can now generate their listing data Owner Keys! The Owner Key provides a revolutionary way to migrate your listings across multiple platforms without duplicative data entry. If, for instance, your MLS is RESO–compliant (and most are) you can request they download imbrex’s open source tegula protocol. Once downloaded, you can give them your Owner Key and they can pull all of the listings you added to imbrex in seconds. Don’t worry, you don’t have to know anything about blockchain to do this.
The next six months will be focused on the development of Escrow Commons™. Soon, a buyer, seller, agent, and their respective parties will be able to create a transaction room and exchange transaction data and documents in a transparent, secure environment. Escrow Commons™ uses many of the same data exchange methods we use for listing data. This will pave the way for Escrow Commons to have full transaction processing capabilities, including escrowing funds and settlement.
Lots more to come on the road to digitally transacting real estate, but first, if you haven’t already, take the first step and sign up to list on imbrex today!
As always, thank you for your continued support. We quite literally cannot do this without you.
We encourage you to take a lap through the new application!