Real Estate Brokerage Fraud Protection


Modern real estate brokerage companies, like Redfin, are trying to reshape the real estate space. They provide real estate information and organize potential buyers and local agents. The company prides it’s self on being cutting edge; utilizing modern tools and phone based apps. I think that XYO and one of these real estate brokerage companies could both greatly benefit by their adoption of this technology.

These brokerage companies pay agents for showing homes to potential buyers, and this model leaves them open for scammer to exploit them. You could easily fraud this system by having friends or family book viewing with you, then get paid for “showing” them the house. However as of now these companies have no way or verifying that you did indeed visit the property.

These brokerage companies could integrate XYO software into their apps. The users app could utilize their phones gps and Bluetooth to act like a sentinel/bridge and the agents app would as well. Then at the office they would run an archivist/diviner that would know when their agents have met up with the buyers and where they went.

Not only would this greatly limit costly fraud to their company, it would also expand and strengthen the XYO network.

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Obviously, we’re on the same page on this one!