Jason, you have competition
Christine Quinn officially left the Oppenheim Group and started her own real estate company called RealOpen alongside her husband Christian Dumontet.
However, this is not your usual brokerage. RealOpen lets anyone buy a home using cryptocurrency, the first company of its kind to do so. Christine and Christian spoke to Forbes about their new venture and Christine said part of her decision to leave the Oppenheim Group was because they didn’t believe in the use of crypto in real estate sales.
She said, “A lot of brokerages are very leery of accepting crypto because they don’t understand the inner workings of it, which is why it’s very difficult for agents to perform these transactions.
“A) brokers know nothing about crypto; B) don’t know what to do; and C) don’t understand how reliable and safe it is. The process used by RealOpen is absolutely reliable and infallible.
So how involved is Christine with RealOpen? And how does it work exactly?
Here’s everything you need to know about RealOpen, Christine Quinn’s new company:
RealOpen lets anyone buy a home using cryptocurrency
Confused? Let’s break this down. RealOpen will list a number of homes on its service, but you can also use its platform to purchase a home listed in MLS inventory.
Once the buyer has found a property and is looking to submit an offer, RealOpen checks the buyer’s crypto assets to verify that they have the funds. Then the offer for the house is submitted all in crypto.
If the offer is accepted, RealOpen helps convert three percent of the offer into cash so that the buyer and seller can enter into receivership.
Just before the escrow closing date, the rest of the crypto supply is converted into cash which goes to the seller and the closing period ends as it would with a normal purchase.
What is Christine’s involvement in the company?
Christine is CMO and co-founder of RealOpen. In their interview with Forbes, Christian said his initial target market was “crypto whales,” meaning people with $5 million worth of digital assets.
As part of their business, they have people working on the legal and compliance side so everyone in the process feels comfortable.
Real estate sellers don’t actually need to have their own crypto assets because they receive money at the end of the sale.
Christine said the platform is great for people who are skeptical of crypto because “we return it for them through the platform and they will receive money.”
To show how dedicated she is to RealOpen, Christine even puts her own house up for sale for $9.25 million or some crypto equivalent. In their interview with Forbes, Christine hinted that the business may go beyond real estate and also list yachts, artwork and jewelry in the future.
Selling Sunset season five is available now on Netflix. For all the latest Netflix news, drops and memes like The Holy Church of Netflix on Facebook.
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