Property market to be connected by blockchain
11 June 2020

Property market to be connected by blockchain:  technology firms dezrez, dezrezlegal, MRI Software, Reapit and Redbrick Solutions announce they will join Coadjute platform

Following announcements by Coadjute that they will connect the UK property market by blockchain, estate agent software providers dezrez, MRI Software and Reapit; and conveyancing software providers dezrezlegal and Redbrick Solutions announce they will be the first to explore interoperability with the platform. This represents a significant milestone in the digital transformation of the UK housing market.

Property technology companies Coadjute, dezrez, dezrezlegal, MRI Software, Reapit and Redbrick Solutions announced today to be first in joining forces to accelerate the digital transformation of the UK housing market. Connecting estate agent and conveyancer systems on the Coadjute blockchain platform is one of the first steps to achieving a faster and safer way of conducting property transactions. Buyers and sellers will also benefit from an automated, real-time view of the transaction process.

Today, the property buying process can be slow, complex and costly for both customers and the businesses that serve them. This often isn’t caused by the companies themselves, but by the lack of connectivity between them. Coadjute’s blockchain platform is an open network which will connect the businesses that take part in property transactions.

Martin MacDuff, Managing Director at Redbrick Solutions added, “We are pleased and proud to be part of this very exciting initiative which will significantly revolutionise the home buying process for the benefit of the consumer and all the professionals involved. Linking all these parties digitally will see a far more transparent and speedy process for everyone involved and using good technology, such as those provided by Coadjute and the existing prop-tech companies makes complete sense for all.

The platform will allow estate agents and conveyancers using the dezrez, dezrezlegal, MRI Software, Reapit and Redbrick Solutions softwares in future to view a transaction’s progress and status, receive synchronised alerts, and share messages and documents rapidly and securely.  This will enable them to conduct the transaction faster, with less friction and more securely, and keep buyers and sellers more up to date, improving the customer experience.

Dan Salmons, CEO at Coadjute said “We see a future where estate agents and conveyancers spend much more of their time on the property transaction itself, and much less on administration.  No one wants to spend hours chasing up other parties involved on the phone, email or fax, but today that’s needed to get the job done.   By connecting the parties digitally, estate agents and conveyancers will get more of the information they need, quicker, and can focus on what matters most – helping a customer move home”.

Richard Price, Managing Director of dezrez Group, added “We are excited to be part of this initiative that will help our clients to accelerate the home buying journey for their buyers and sellers. Our products put agents in control of their businesses by bringing all their software together in one place. Being part of the Coadjute platform takes connectivity a stage further and utilises the latest tech to improve the efficiency of the home buying process.

The UK government has called on the property industry to accelerate digitisation, and estate agents and conveyancers have a central role to play.  The companies, dezrez, dezrezlegal, MRI Software, Reapit and Redbrick Solutions are the first of a group of leading property businesses that will be connecting to the Coadjute blockchain network, representing a significant step forward towards the goal of a truly digital property market.