Christine has finally done it! After the sunset sale star left the Oppenheim group last year due to not “moving 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 Client Would Want To Use Crypto
Before delving into the worlds of RealScore, Christine explained to TechCrunch why would a person want to buy with Crypto instead of cash. Quinn explained:
Crypto “whales” who hold a significant portion of their wealth in digital currency prefer to move quickly in business, and asset purchases are no exception.
The reality TV star and real estate agent went on to say:
I have a lot of clients who really want to close quickly due to volatility [of crypto]. Therefore, we can choose the day, minute by minute, that we want to happen. We live in an instant gratification generation where people want things fast. With a traditional home mortgage, you’re looking at closer to four weeks, or sometimes it can be longer. [due to] inspection contingencies.
This is where RealScore comes in…
What is Real Score?
Christine is using RealScore to help her clients buy her properties. It is essentially the software engine that powers RealOpen brokerage.
According to DuMont, by using RealScore, buyers can convert their crypto into cash until the transaction closes without telling the seller what their offer is worth. Her husband went on to explain:
The platform allows buyers and sellers to see algorithmic predictions about the probability of price movement in the various crypto assets involved in transactions based on historical data.
The RealScore for an offering is calculated using correlation coefficients that show how different types of digital currencies are related, helping a buyer decide whether to diversify the mix of assets it offers and when to formally extend one.
According to Quinn, this allows both parties to come to a shared understanding of an offer, often resulting in a faster transaction process.
RealOpen can facilitate all Cryptocurrencies
RealOpen says that it can facilitate transactions in all cryptocurrencies. Although Dumont said that bitcoin, Ethereum and stablecoins are the most popular options among buyers.
DuMont said that next on RealOpen’s product roadmap are features aimed at those looking to buy investment properties using cryptocurrencies, not just homes they will occupy themselves.
It looks like the road ahead for the pair is technical and bright!