Real estate agents will start accepting cryptocurrency

Estate agent Ronnie Rickner, director of Rickner Charles, has started accepting cryptocurrency as payment for the company's services and has already received a fee from one of his clients in Bitcoin for the sale of a property in Rochester worth £600,000.

Other agents also reported using digital currency in their transactions. Last year, Go Homes said it had sold £350,000 worth of properties for bitcoin, and some landlords have begun accepting rent and down payments in the cryptocurrency.

Rickner says his offering is unique because he accepts not only bitcoin, but also ethereum and ripple. This ensures customers can transact faster without having to provide account details, and overseas buyers can benefit from lower rates. All crypto payments will be stored in a secure cold wallet or immediately converted into fiat.

In relation to compliance with anti-money laundering obligations, Rickner said that there is currently there is no legislation that would apply to the cryptocurrency sector, including the fight against money laundering. But he hopes that the matter will be resolved soon and the firm will adhere to all these laws.

We closely monitor any changes in legislation regarding our obligations, and we also ensure that all necessary checks are carried out on clients before providing any services. We want to change the industry for the better.

Rickner believes that agents need to take advantage of opportunities to compete successfully with online agents and not be forced out of business by limiting customers' payment options.

I hope that we can provide services and innovate in a way that helps customers take advantage of new technologies and not be limited by traditional payment methods.

According to propertyindustryeye.com