FOX 35 investigates how cryptocurrency is changing how people buy and sell real estate in Central Florida | FOX 35 Orlando
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FOX 35 investigates how cryptocurrency is changing how people buy and sell real estate in Central Florida

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Published  February 26, 2025 6:49pm EST
FOX 35 Investigates
FOX 35 Orlando

Using Bitcoin to buy a home

Some real estate agents are now accepting digital currency like Bitcoin as a form of payment when purchasing a home. FOX 35's Esther Bower spoke to an agent in Melbourne that has the certifications to do so.

The Brief

    • Real estate agents in Central Florida are beginning to accept cryptocurrency for home purchases, with some sellers seeing it as an opportunity to attract more buyers and speed up transactions.
    • Experts warn that while crypto transactions can be fast and efficient, the volatility of bitcoin poses risks for buyers, especially those using crypto-backed mortgages.

BREVARD COUNTY, Fla. - FOX 35 investigates a new way to buy homes in Central Florida. Cryptocurrency is changing the real estate game, and local agents are getting certified to accept crypto offers as some people ditch cash for digital currency.

Using Bitcoin to buy a home?

What they're saying:

"Normally, we exchange fiat, dollar to dollar. This is digital. It’s coin to coin," said Blake Underhill, who’s a blockchain-certified specialist.

Jesse Burlew is one of the first real estate agents in Brevard County who’s crypto-certified. This means he can accept offers from people who want to buy homes with bitcoin.

"As a seller, you don’t need to understand what cryptocurrency or bitcoin is. You can just accept it," said Burlew. "It’s another form of cash payment, and then the title company will transfer it to U.S. dollars before closing."

Burlew says he doesn’t have many properties accepting crypto here on the Space Coast because this is still so new, but he does have a home for sale on Crown Boulevard in Melbourne that’s ahead of the trend and currently accepting crypto.

"It’s great for my sellers," said the agent. "I’m giving them more opportunities. They’re able to accept more offers, generate different types of people to buy their homes."

Crypto+real estate+time

Dig deeper:

Burlew says another perk of using crypto in real estate is time.

"It’s just a lot quicker. It’s an instant transaction, kind of like Venmo. It’s peer to peer," he noted.

He also thinks there’s less chance for problems with paperwork.

"There’s less room for human error. They use smart contracts and AI, so they’re able to catch anything wrong, anything missing immediately. That contract won’t get sent through, money won’t be exchanged until all the bullet points are met," said Burlew.

Still, using bitcoin instead of cash is met with questions even from people who think it’s the future of finance, like Underhill.

"We need clarity in the U.S. because there are entrepreneurs that are ready to do things now, but everybody’s scared," said the blockchain-certified specialist. "Everybody’s been trying to figure it out—courts, politicians. Nobody really knows what’s going on."

FOX 35 wanted to fully investigate the new trend and asked the question: Should the average person make the biggest investment of their life—their home—with something like bitcoin?

"There’s a lot of just unknown risk in that transaction," said Dr. Abram Walton, who’s a professor of management at Florida Tech.

Walton says there's so much variability in cryptocurrency, and the values of bitcoins are constantly changing. This means if the market falls before you close on a home, you could have to fork over more bitcoin if you’re the buyer.

"If bitcoin takes a dip before the day of execution, then the person selling the bitcoin has to liquidate more bitcoin in order to achieve the $400,000 mark," said the professor.

He says the currency is best used if someone is buying a home at full price, like a cash offer, and doesn’t need a mortgage.

Crypto-backed mortgages are out there, but those will also fluctuate, which he says is risky for most.

"Over 20 or 30 years, you have a lot of variation. I think you’re going to have a lot of analogous issues to these 5- to 10-year adjustable-rate mortgages when we had the crash," said Walton.

For someone selling their home who just wants cash in hand, Walton says accepting a bitcoin buyer isn’t too much of a risk.

"If it began its life in bitcoin and it transferred through an agency, and I got $400,000 for my house—no problem here," added Walton.

Real estate may be the beginning of a new era for crypto, and experts are expecting even more growth under the Trump administration.

"We do see this as the future, so I’m glad to get in front of it," concluded Burlew.

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The Source: The information in this article comes from reporting done by FOX 35's Esther Bower. 

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