Australia: Sydney Realty Bitcoin Payments Welcomed

Sydney Realty Bitcoin

Sydney, Australia real estate agency, Forsyth Real Estate, has jumped aboard the bitcoin movement. The Sydney realty bitcoin expansion allows house deposits and property advertising to be made in bitcoin, thanks to the realty’s partnership with payment provider CoinJar.

The agency is over 115-years-old, and is located on Sydney’s north shore. The decision to incorporate bitcoin into the business was done to allow easy access from international investors and buyers.

Managing director of Forsyth Real Estate, James Snodgrass, says that his decision to accept bitcoin is in due of his support for the digital currency. He believes bitcoin makes things easy. Snodgrass said:

“Prior to launching, we had discussions with our financial division who outlined the risks and opportunities of bitcoin and we were happy with our finding.”

So far, the agency has yet to get any customers willing to pay in the digital currency, but remains optimistic about the future.

However, not all realty’s feel the same way about bitcoin. Max Walls International Real Estate’s Anthony Walls refutes bitcoin. The skeptic says:

“I must tell you I’m very concerned about the bitcoin situation. I just don’t need to deal with those bitcoins] and I don’t need the grief.”

The incidents of Japanese bitcoin exchange Mt. Gox left a bad taste in Walls’ mouth towards bitcoin. Walls claims that he would need a team of lawyers present before having any association with bitcoin, if he were to use it. He adds that he prefers bank cleared funds for his business.

Bitcoin in Real Estate

Forsyth Real Estate isn’t the first agency to welcome bitcoin. Realtors all over the world have begun to take a liking towards the digital currency. Earlier this year, British Columbia, Canada firm, Quantum Properties, allowed for property payments to made in bitcoin.

The Canadian agency specializes in building residential and commercial buildings, and was founded in 2000. CEO of Quantum Properties, Diane Delves, says:

“For accepting deposits, bitcoin payments actually works very fast for us. We can be assured of the deposit within an hour while we finish our customer’s paperwork. Bitcoin also carries no to very low transaction fees which is a nice bonus.”

The realty industry continues to add towards bitcoin’s momentum, all the while adding a new base of clientele. Skeptics such as Walls may not be skeptics for too much longer if this trend truly kicks off.

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