Christine Quinn launches her own real estate company after leaving The Oppenheim Group
Jason, you’ve got competition
Christine Quinn has officially left The Oppenheim Group and launched her own real estate company called RealOpen alongside her husband Christian Dumontet.
However this isn’t your regular brokerage . RealOpen allows anyone to buy a house using cryptocurrency, the first business of its kind to 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 using crypto in real estate sales.
She said: “A lot of brokerages are very wary about accepting crypto because they don’t understand the inner workings of it, so that’s why it’s very difficult for agents to do these transactions.
“A) the brokers don’t know anything about crypto; B) don’t know how to do it; and C) don’t understand how reliable and how safe it actually is. The process that RealOpen uses is absolutely reliable and fool-proof.”
So how involved is Christine in RealOpen? And how exactly does it work?
This is everything you need to know about RealOpen, the new company of Christine Quinn:
RealOpen allows anyone to buy a house using cryptocurrency
Confused? Let’s break this down. RealOpen will be listing a number of homes on their service but you can also use their platform to buy a house listed on the MLS inventory.
Once the buyer has found a property and is looking to submit an offer, RealOpen verifies the buyer’s crypto assets to check they have the funds. Then the offer for the house is submitted all in crypto.
If the offer is accepted RealOpen helps to convert three per cent of the offer into cash so the buyer and seller can enter escrow.
Just before the closing date of escrow, the rest of the crypto offer is converted into cash which goes to the seller and the closing period ends just as it would do with a normal purchase.
What’s Christine’s involvement in the company?
Christine is the CMO and co-founder of RealOpen. In their interview with Forbes Christian said their initial target market are “crypto whales” aka people who have $5million in digital assets.
As part of their business they have people working on the legal and compliance side in order for everyone in the process to feel at ease.
Property sellers don’t actually have to have any crypto assets of their own as they get cash at the end of the sale.
Christine said the platform is great for people skeptical of crypto as “we flip it for them through the platform and they’ll receive cash.”
To show how dedicated she is to RealOpen Christine is even listing her own home for sale for $9.25million or a crypto equivalent. In their interview with Forbes Christine hinted the company could progress beyond real estate and also list yachts, artwork and jewellery in the future.
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