“Bitcoin accepted”: the cure-all for an impossible listing?

An agent in Delaware is betting on crypto to get the job done

TRD WEEKEND EDITION /
Jan.January 27, 2018 11:58 AM

Stock photo of man with Bitcoin merchandise behind. (Credit: BTC Keychain/Flickr, back; Ryan Hyde/Flickr, front)

Wondering how to attract international buyers or get eyes on an off-beat listing? Agent Michael A. Kelczewski is betting on Bitcoin to draw them in.

Kelczewski, an agent with Brandywine Fine Properties Sotheby’s International Realty, is handling a $1.75 million listing of more than 4-acre estate in Newark, Delaware and telling potential buyers they can pay in the cryptocurrency, according to the New York Post.

“It’s not easy to purchases houses internationally,” he told local publication, The News Journal of Wilmington. “This is increasing its marketability.”

According to Kelczewski, the ability for a foreign buyer to forgo dealing with middlemen by essentially doing a direct transaction via Bitcoin, in combination with this being one of a handful of U.S. listings to nominally accept Bitcoin puts this 2013 mansion — located in state not known for its luxury market — on the map.

Late last December, the first Bitcoin-only real estate deal closed in Miami The Real Deal reported, however most listings that claim to accept Bitcoin ultimately convert the cryptocurrency into cash.

Kelczewski’s strategy seems to have worked from a publicity standpoint, but whether it will actually sell the 8,375-square-foot house remains to be seen. [NYP]Erin Hudson


Related Articles

arrow_forward_ios

Real estate stocks push up this week as U.S.-China trade tensions ease

416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case

Brokerage firms are strategizing ways to make up losses after the cost of application fees was capped at $20. (Credit: iStock)

Brokerages on rental application fee cap: “It hurts”

Alex Rodriguez (Photos by Guerin Blask)

A-Rod is coming for NYC and SoFla real estate

Joel Schreiber (Credit: Shir Stein and Wikipedia)

WeWork’s first investor used his stock as collateral. Now his lenders are suing him

There will be 70 agents based at the new office (Credit: iStock)

Compass opens Long Island City office as new-development sales surge

The Daily Digest - Tuesday

New life for Toys “R” Us, Masa Son is “embarrassed” with the Vision Fund: Daily digest

Nooklyn CEO Harley Courts (Credit: iStock)

Brokerage slashes agent commissions, delays payments after rent law change

arrow_forward_ios