Real estate broker and TV personality Ryan Serhant discusses cryptocurrency in the real estate market

Ryan Serhant, Real estate broker, TV personality, and CEO/ Founder of real estate firm SERHANT, discusses cryptocurrency’s increasing role in the real estate market.

Video Transcript

- I predict that within the next five years, 50% of real estate transactions in the US will be done in some way, shape, and form with cryptocurrency. And as soon as the banking industry becomes OK with the volatility and can hold the crypto on their books, then I think there'll be wallet to wallet transactions.

And it's super exciting, especially with international purchasers. And people who ordinarily might not have been able to afford an apartment. You know, we have people who have kind of regular day jobs.

But now because they've created so much this kind of crypto asset wealth, they're able to put down let's say 50% to 70% of the purchase price using cryptocurrency. And then they'll finance the remaining amount, because the remaining amount is now so small. Whereas, ordinarily, they wouldn't have been able to even afford the apartment, you know, normally if you go to a bank, and do the standard credit rating against your W-2S.

So it's opening up home ownership to even more people, which for me, I think is a really good thing.