Trust Stamp Announces Free Safety Tool for All Realtors
Real Estate In-Depth | November 2017
CHICAGO—At the National Association of Realtors’ Conference & Expo in Chicago earlier this month, Trust Stamp announced that its safety tool will now be free for all Realtors. Trust Stamp is an identity authentication startup company that leverages artificial intelligence and blockchain technologies to verify strangers’ identities and provide a trust score.
NAR announced recently that it had made a second investment in Trust Stamp; the first was in November 2016. The startup was one of eight companies last year to participate in the vertical tech accelerator program, REach, operated by NAR’s strategic investment arm Second Century Investments.
“I’m pleased that this innovate identification verification tool will now be free to all 1.3 million Realtors,” said NAR President Elizabeth Mendenhall, a sixth-generation Realtor from Columbia, MI and CEO of RE/MAX Boone Realty. “Safety for our members is a top concern, and this is another great tool that Realtors can use to protect themselves when meeting strangers and new clients.”
Andrew Gowasack, one of the co-founders of Trust Stamp said, “We are thrilled to offer Trust Stamp as a free benefit to NAR members and to empower them to keep themselves and their clients safe. Both Realtors and consumers should have assurance that everyone they meet during the real estate transaction is verified and trustworthy.”
Trust Stamp develops and deploys proprietary artificial intelligence software to authenticate identity and also analyzes public records and social media to provide a unique color-coded Trust Score. After creating the Trust Score, users can improve it by sharing additional information. While personal details behind a Trust Score remain private and under the user’s control, the score can easily be shared through the company’s unique Trust Stamp.
It’s a powerful tool for helping improve the safety of real estate professionals, who frequently meet new clients or unknown individuals. NAR’s 2017 Member Safety Report found that more than one in three agents experienced a situation that made them fear for their personal safety or the safety of their personal information.
“My vision for the Realtor organization is to partner with companies that are offering great products and services that will help change the real estate industry,” said NAR CEO Bob Goldberg in a video announcing the new member tool (link is external). “Trust Stamp is an innovative company, and this tool will bring great value to our members and improve their safety, which is so important for what they do.”
Trust Stamp co-founder Gareth Genner said, “There is no issue of greater importance than the safety of real estate professionals and their clients. Perhaps even more concerning than an absence of safe practices, are products that create an illusion of safety. While there is nothing that can displace sensible precautions, we hope that NAR’s investment, and our making Trust Stamp free for Realtors, will reinforce the need to use a thoughtfully designed process and remove any financial disincentive.”
Trust Stamp has clients across multiple industries, including a major U.S. bank, and has launched an app to improve the safety of peer-to-peer marketplaces like Airbnb, Craigslist, Facebook Marketplace and Uber. Through its relationship with NAR, the company has also partnered with the National Association of Estate Agents in the United Kingdom to provide real estate agents with risk based tools to meet European Union and UK anti-money laundering obligations. The company has created a real estate-specific webpage and mobile app for agents. For more information about the Trust Stamp real estate tool, visit truststamp.re.