RLTY Capital, a specialty finance firm, has achieved a milestone by being the first to offer commissions in cryptocurrency. Now, real estate agents like musicians, gig workers, and athletes will get paid in cryptocurrency.
Briggs Elwell, CEO and Co-Founder of RLTY Capital, acknowledged the wide adoption of cryptocurrency. He said it would be a good option to offer to the agents. Elwell pointed out that it was innovative and very much part of the company’s future goals. He said they are expanding the ways their customers can invest and pay in. RLTY Capital wants to make it as easy as possible.
The executive noted cryptocurrency’s ability of quick and easy payment processes. He believes it will empower their agents to cut out intermediaries. Excess processing fees will also be avoided. Elwell said they will not have a cap on commissions as most have caps from $10,000-15,000.
Ryan Serhant, the CEO and real estate broker of SERHANT, revealed that real estate agents in New York and South Florida want to be paid in cryptocurrency. He said they want to be on par with the property buyers who are also buying digital assets. Serhant believes this will grow into something very big and leave a mark. As more institutions come into crypto, everyone will be inundated with it. Be it grocery shopping in a supermarket or buying online through Amazon, or paying for a Netflix subscription, it will be done in cryptocurrency.
Serhant said RLTY Capital buys commissions from agents and gives them access to capital within minutes. Otherwise, the agents would have to wait at times for months to get paid. The entrepreneur said they now give them as many choices as possible to monetize their hard work – as quickly as possible. Cryptocurrency is now included in one of the many choices.
The gains of having commissions in cryptocurrencies will be humongous