Innovative Measure Protects Luxury Property Sellers by Validating Cryptocurrency Purchasing Power of High-Net Worth Individuals Looking to Buy Property with Crypto Assets
RealOpen, the easiest and most efficient way for high-net worth crypto holders to purchase luxury real estate, announced the launch of RealScore, the world’s first crypto purchasing power feature. RealScore provides high-end real estate buyers and sellers with a real-time, credible context to evaluate the asset strength behind a specific offer.
“RealScore allows buyers to shop with confidence. Despite well-publicized crypto volatility, RealOpen provides a credible indication that a crypto offer is better than a cash offer”
Using the buyer’s cryptocurrency wallet address, RealOpen analyzes the buyer’s particular mix of crypto assets and ultimately determines their reliable purchasing power—assuring the seller of sufficient available equity with a cryptographic analysis. This patent-pending analysis provides better-than-cash validation of the buyer’s access to funds. Factors used to provide a score include the diversity of the basket of coins used to fund the offer, buyer-held cryptocurrency in excess of the offer price, and escrow duration. These factors are then translated into a visual, easy-to-understand RealScore.
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“RealScore allows buyers to shop with confidence. Despite well-publicized crypto volatility, RealOpen provides a credible indication that a crypto offer is better than a cash offer,” said Christian Dumontet, RealOpen founder and CEO. “A buyer today may be concerned with placing a crypto offer, given recent volatility, but similar to the way home buyers use other services to evaluate their buying power or mortgage monthly payments, our prospective clients can use their RealScore to get a better idea of what they can afford. Then they can offer and buy with certainty.”
RealOpen launched in April 2022 as the first and only company across the globe focused on accepting cryptocurrency for real estate transactions using its patent-pending technology. Founded by Dumontet and Selling Sunset star and luxury real estate expert, Christine Quinn, RealOpen supports buyers in purchasing luxury real estate with crypto assets by validating funds and instantly converting crypto assets into cash at closing.
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RealOpen currently has exclusive listings totaling upwards of $200M in volume. Partnering with One Sotheby’s International Realty agents, Karley Chynces and Bozana Cavar, the company recently branched into the booming South Florida real estate market and has listings available for crypto purchase in the Aria Reserve, Diesel Wynwood Condominium, Regalia, and the Bentley Residences – the first residential offering by one of the world’s most revered brands by Dezer Development.
“There’s a huge opportunity in buying real estate with cryptocurrency. In real estate transactions, a buyers’ assets are continuously monitored from offer to closing, and we’ve found that a crypto offer can be just as competitive as a cash offer,” said John Parsiani, Aria Reserve, Vice President of Sales. “Traditional proof-of-funds letters for cash offers are only a snapshot in time and are simply static copies of balance statements. There is no ongoing information for the seller to reference during the escrow period, whereas cryptocurrency holdings can be continuously monitored. I’m excited to be partnering with RealOpen which provides a dynamic, real-time evaluation of the buyer’s purchasing power that can be viewed throughout the escrow period.”
Buyers who use RealOpen can purchase any property, on- or off- market, with cryptocurrency allowing sellers to receive cash immediately for the transaction. Since inception, the company has received interest from thousands of real estate agents and brokers worldwide who want to be involved and accept cryptocurrency through RealOpen.
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