AI Escrow Officer “Agent Avery” Aims to Transform Real Estate Transactions

AI Enters Real Estate Closing Process

In what analysts suggest could be a transformative moment for property transactions, Propy has launched what it describes as the first AI escrow officer capable of managing real estate closings. According to reports, the company is backing this innovation with a $100 million expansion plan targeting the fragmented U.S. title industry.

AI Enters Real Estate Closing Process
The Paperwork Problem
Introducing Agent Avery
Addressing Industry Challenges
Operational Efficiency Gains
Blockchain Integration and Future Vision
Financing Through Decentralized Credit
Industry Transformation Potential
The Bigger Picture

The Paperwork Problem

Many homebuyers have experienced the frustration of endless paperwork during property purchases. Sources indicate this outdated process persists despite digital advancements, with the title and escrow system remaining one of the most manual sectors in modern finance. Industry data reportedly shows there are approximately 24,028 title companies across North America, with about 55% operating as single-owner businesses.

Introducing Agent Avery

Agent Avery represents a significant advancement beyond typical chatbots, according to the company‘s description. The AI agent is reportedly trained on thousands of real estate transactions and can handle the full scope of an escrow officer’s responsibilities. This includes contract management, compliance verification, communication, and payment processing for both cryptocurrency and traditional currency transactions.

Addressing Industry Challenges

The timing appears critical for such innovation. According to industry reports, title fraud has become increasingly prevalent, with one major real estate association finding that 63% of agents reported encountering title fraud in their markets last year. The problem was reportedly even more severe in the Northeast, where 92% of agents reported such incidents.

Propy’s CEO Natalia Karayaneva explained the rationale behind the development: “Closing on a home is still a bureaucratic maze, while Gen-Z and Millennials expect digital, on-demand services. Avery and our acquisition strategy give us a path to scale nationwide, transforming closings into a faster, AI-driven experience built for modern buyers.”

Operational Efficiency Gains

Traditional closing processes reportedly consume significant human resources, with escrow officers spending more than two-thirds of their time on repetitive administrative tasks. These include lien searches, mortgage payoffs, wire instructions, and document verification. According to company claims, Agent Avery can automate nearly all these functions, reducing workloads by approximately 40% and enabling staff to handle more transactions without additional hiring.

Blockchain Integration and Future Vision

What makes this development particularly noteworthy, analysts suggest, is the combination of AI with blockchain technology. Agent Avery maintains records onchain for audit transparency and represents one of the first true integrations of AI with real-world assets (RWA) in the market. The company’s long-term vision reportedly involves making real estate “programmable,” enabling properties to transact instantly and securely on global blockchain networks.

Financing Through Decentralized Credit

The expansion strategy involves an innovative funding approach. According to reports, Propy’s acquisition of title companies is being financed through both traditional lenders and onchain private credit, including crypto-collateralized loans from Morpho, described as the largest decentralized lending network on Base. This marks one of the first instances where DeFi is reportedly funding real-world property consolidation at scale.

Industry Transformation Potential

Founded in 2017, Propy has already processed over $4 billion in digital real estate transactions. The company now aims to consolidate mid-sized regional title firms with revenues between $5-50 million, providing them with immediate access to advanced AI and blockchain tools. Industry projections suggest AI could automate 37% of real estate tasks and unlock $34 billion in efficiency gains by 2030, indicating significant potential for technologies like Agent Avery.

The Bigger Picture

Agent Avery’s introduction signals a broader shift in how AI interacts with physical assets. Rather than merely analyzing data, this intelligent system reportedly performs legally binding actions tied to physical property. The company even envisions Avery potentially evolving into a licensed entity, similar to how some governments have granted official status to AI systems in other countries.

For an industry long characterized by paperwork and manual processes, the emergence of AI-driven escrow officers could represent the most significant modernization in decades, potentially transforming one of life’s most important financial transactions into a streamlined, digital experience.

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