Christine has finally done it! After the Selling Sunset star left the Oppenheim group last year due to them not “moving forward with the times”, Christine Quinn has just launched her company’s new crypto credit scoring platform.
Christine Quinn and her business partner (and husband) sat down for an exclusive interview with TechCrunch to discuss RealOpen’s latest product, RealScore, a crypto credit scoring system for buyers and sellers of luxury real estate.
Christine explains why a customer would want to use Crypto
Before jumping into how RealScore worlds, Christine explained to TechCrunch why a person would want to buy with Crypto instead of cash. Quinn explained:
Crypto “whales” that hold a significant portion of their wealth in digital currency prefer to move quickly in business, and buying assets is no exception.
The reality TV star and real estate broker went on to say:
I’m getting a lot of clients that really want to close quickly because of the volatility [of crypto]. Because of that, we can choose the day, minute to minute, that they want to happen. We live in a generation of instant gratification where people want things quickly. With a traditional home mortgage, you’re looking at closer to four weeks, or it can sometimes be longer. [due to] inspection contingencies.
This is where RealScore comes in…
What is RealScore?
Christine is using RealScore to help her customers with purchasing their properties. It is essentially the software engine that powers RealOpen’s brokerage.
According to DuMont, using RealScore, buyers can convert their crypto into cash until the transaction is closed without telling the seller what the value of their offer is already. Her husband went on to explain:
The platform allows buyers and sellers to view algorithmic predictions about the likelihood of price movement in the various crypto assets involved in transactions based on historical data.
RealScore for an offer is calculated using correlation coefficients that show how different types of digital currencies are related, helping a buyer decide whether they should diversify the mix of assets they offer and when should one formally extend one.
According to Quinn, this allows both parties to come to a shared understanding of an offer, which often results in a quicker transaction process.
RealOpen can facilitate all Cryptocurrencies
RealOpen says it can facilitate transactions in all cryptocurrencies. Although Dumont said bitcoin, Ethereum and stablecoins are the most popular choices among buyers.
DuMont said next on RealOpen’s product roadmap are features geared towards those looking to purchase investment properties using cryptocurrency, not just the homes they will occupy themselves.
It looks like the road ahead for the couple is technical and bright!