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Real Estate Brokerage Will Accept Bitcoin to Pay for Rental Payments

January 6, 2014
In what is believed to be a first for a real estate firm in the U.S., Bond New York said it will now accept bitcoin as payment for real estate transactions.

"We are accepting bitcoin as a service to our customers who prefer to use the digital currency as a matter of convenience. We are always looking for ways to serve our customers through technological advancement," said real estate agent Brian Dusseau of Bond, a Manhattan-based real estate brokerage firm specializing in residential rentals and sales as well as commercial leasing. "In addition we have agents who would like to be paid in bitcoins if their customer pays us in bitcoins."

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Bitcoin is a consensus network behind a new Internet-based payment system that uses completely digital money. It is the first decentralized network that has no central backing authority or middlemen, but rather depends entirely on the faith and credit of its users.

Bond believes bitcoin offers clients a convenient and inexpensive way to pay for real estate transactions.

"Right now a bitcoin is worth about $750,” explained Noah Freedman, co-founder, Bond New York. "Bitcoin is a convenient and inexpensive way for our customers to transfer money; so we see it as a win-win situation which will impact the real estate industry."

Bond New York has a sales force of more than 500 personnel in seven Manhattan offices making it Manhattan's largest independently owned firm.

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