If you have followed the growing market in BitCoins, you know that they are slowly being accepted for many traditional transactions. But the New York City brokerage, Bond New York, has announced they are accepting bitcoins for their real estate sales.
Bond New York, a Manhattan-based real estate broker, has started accepting the digital currency for real estate transactions, The Post has learned.
Bond New York believes it is the first real estate brokerage firm to accept bitcoin.
“Real estate brokerage is a service industry,” said Noah Freedman, a co-founder of Bond New York. “Our job is to make real estate transactions easy for our customers. Bitcoins are just another mechanism to help people facilitate transactions.”
Several larger real estate brokers are not sold on the idea and have no plans to set up bitcoin accounts any time soon. via The New York Post
Now there are pros and cons to this. The BitCoin currency is new, governments can not stand the threat they offier, and most people have not heard about them. But there is a huge market developing for this digital currency. For Manhattan real estate the idea works as the city is full of people on the cutting edge.
And Noah Freedman making the announcement that Bond New York would be accepting BitCoins is one heck of a way to get publicity in front of a very tech savvy audience. The very clients they are looking to develop a relationship with.
Just don’t leave the bitcoins in escrow for too long. It is a very volatile currency.