NAR’s president created a presidential advisory group (PAG) to study cryptocurrency’s growing real estate influence, suggesting, “We should consider our own platform.”

WASHINGTON – In March, National Association of Realtors® (NAR) President Leslie Rouda Smith created a presidential advisory group (PAG) to examine the effect of cryptocurrency on real estate. The PAG will meet May 24-25 and is tasked with writing a report of its findings and presenting it to Rouda Smith.

NAR spokesperson Mantill Williams said the PAG will “recommend the most effective approaches for educating Realtors® and advocating on their and their clients’ behalf within this evolving environment.”

“We should consider our own platform for this and let the Realtors invest.”  “Give us the first, second and third round seed of investing and that gives us vested interest.”

However, “creating a cryptocurrency is not within the realm of the PAG’s charge.”

NAR’s venture capital arm, Second Century Ventures, has invested in a company called Propy that wants to digitize the transaction process and allow buying or selling in any global currency, including cryptocurrency.

 

Source: Inman (05/06/22) Brambila, Andrea V.

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