In its first calendar year, imbrex (https://imbrex.io) has broken into and positively disrupted the real estate marketplace, while redefining core concepts for brokerages, residential and commercial agents, and consumers alike.
Founded by real estate veteran and tech entrepreneur Stephen King, imbrex introduced first-of-its-kind solutions to simplify listing, buying, and selling real estate. imbrex leverages the Ethereum blockchain, an open source environment that stores data in a cryptographically validated and secured immutable ledger, to offer maximum security and compliance for effortless transactions.
All information on imbrex is shared via Inter Planetary File System (IPFS), a peer-to-peer distribution protocol. Listing and transactional data is never stored on a third-party server, ensuring first of its kind ownership, control, and security of information.
Stephen referenced Buckminster Fuller to describe imbrex’s impact on the market.
“’You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.’ We’re building a new way for the real estate industry to own listings, share them securely and transact without fear of fraud,” he stated upon imbrex’s introduction.
imbrex launched mid-summer of 2018 with 2,200 nationwide listings from Toll Brothers (NYSE:TOL), an award-winning Fortune 500 company and one of FORTUNE Magazine’s World’s Most Admired Companies – #1 Homebuilder four years in a row.
In September of 2018, imbrex expanded its network to include MyHomeGroup (MHG), as a syndicating partner. MHG is a Scottsdale-headquartered brokerage firm recognized as the fastest growing residential real estate brokerage in Arizona and second fastest in the nation. True to imbrex’s founding principle, MHG remains in control of their more than 8,000 listings; and owns the resulting leads that are directly conveyed to their growing team of 1,400 leading local agents.
In April of 2019, SVN Commercial Real Estate Advisors joined imbrex to become the first commercial real estate firm to store data on the blockchain. This specific collaboration allowed for the advancement of the commercial real estate industry for all stakeholders, through the adoption of imbrex solutions.
To date, the number of listings showcased on imbrex has expanded more than fifteen times, and to include more than 33 top residential and commercial property brokerage companies across the country.
The growth of imbrex has coincided with the January 2019 naming of William King to the firm’s Board of Directors, and his subsequent appointment to Chief Executive Officer. William has advanced go-to-market strategy and execution that continues to propel awareness and adoption within the real estate and blockchain communities.
True to the blockchain ecosystem, participants are offered IMBREX tokens, or cryptocurrencies, to include, curate and maintain their listing data. Tokens create massive cost savings from the existing incumbent model, and participants are not charged monthly subscription, syndication or distribution fees.
As recorded, imbrex has secured 832 downloads of their open-source encryption offering – Tegula — that allows for secured real estate-data ownership. The versatility and utility of Tegula is further evidenced by downloads and testing within the accounting and finance sectors.
imbrex has seen expansive global interest outside the USA from countries like China, Japan, Taiwan, and Brazil, who after working with the Tegula software, will begin syndicating listings to imbrex in the coming quarters.