For many homebuyers, closing on a property is supposed to be a moment of celebration. Instead, it often feels like a step back in time, with long waits for signatures and approvals, stacks of papers to review, and never-ending email threads. In an era where fintech can move billions in seconds, the process of transferring home ownership remains one of the most analog experiences in finance.
That paradox is what Propy aims to solve. The proptech company recently announced a $100 million national expansion designed to modernize the $25 billion U.S. title and escrow industry, one of the last untouched frontiers of automation. Alongside the rollout, Propy introduced Agent Avery, an AI-powered escrow officer capable of closing property transactions 24/7, across both banking and crypto payment rails.
Why It’s Time to Reinvent Closings
Real estate closings are among the most outdated processes in finance. Nearly 7,000 fragmented title firms still manage transactions manually. A recent NAR study found 63% of REALTORS® reported title fraud in their markets — that figure jumps to 92% in the Northeast.
Yet, the expectations of buyers have changed. Millennials and Gen Z, many of them crypto-native, are entering the market with a preference for digital-first services. They want speed, transparency, and flexibility; and they don’t understand why closing on a home takes weeks and sometimes even months.
From Smart Contracts to Smart Closings
Propy, a company building at the intersection of blockchain, AI and real estate, reports having already processed more than $4 billion in real estate transactions. Its latest initiative focuses on automating the “last mile” of every deal: the closing itself.
At the core of this expansion is a fully operational AI escrow agent that can manage contracts, compliance, communication, and fund transfers, across fiat and crypto, with a focus on keeping everything RESPA-compliant and on-chain. It’s not a chatbot. It’s an intelligent system that goes by the name of Avery, trained on thousands of transactions and designed to augment, not replace, human professionals.
According to the company, early pilots show up to 40% lower workloads and higher margins for title firms, all while giving buyers a seamless, five-star experience.
AI & DeFi: A New Stack for Property Tech
What makes this more than just another AI application is its integration with real-world assets (RWAs) and onchain financing. The company is among the first to use on-chain private credit to fund real-world acquisitions at scale. Propy states that part of its $100 million M&A strategy is being financed through decentralized lending protocols using crypto-collateralized loans rather than traditional bank financing.
A Path to Scalable, Smart Infrastructure
Propy’s immediate strategy centers on acquiring profitable title firms across California, Texas, and Florida, then equipping them with AI and blockchain infrastructure. These are local businesses with deep community ties. By giving them access to digital rails, Propy aims to unify one of the most fragmented, paper-heavy sectors in American finance.
The company’s broader vision is to create a national network of AI-powered title operations, turning real estate settlements into programmable, auditable, and fraud-resistant transactions.
Analysts agree the opportunity is significant. Morgan Stanley estimates that AI could automate 37% of real estate tasks by 2030. Propy is betting that the combination of AI and blockchain can accelerate that shift in transforming one of the most bureaucratic processes in the economy into one of its most intelligent.
Learn more at propy.com/avery.
