Kansas City has its first publicly announced real estate offering by a seller willing to accept payment in bitcoin (BTC). The goal is to attract a wider array of potential buyers for a $1 million-priced condo in the city’s upscale Country Club Plaza.
The property listed is a 2,223-square-foot condo with three bedrooms, 2.5 bathrooms and a private patio. John Moffitt & Associates Realtors is handling the sale.
CEO John Moffitt Jr. told ThirtyK that the seller isn’t an enthusiastic bitcoin advocate. “He just wanted to reach a more sophisticated and international market,” Moffitt said. “We thought this was a good path to take.” The seller, who prefers to remain anonymous, will accept full or partial payment in bitcoins.
Moffitt said he hopes other sellers will note the use of bitcoins in real estate transactions and join the movement. He saids he doesn’t know of any other Kansas City sellers who have taken a similar step since the condo was listed in late February.
“Ironically, we had a couple of realtors inquire about the process,” Moffitt said. “But that has not led to any showings as a direct result of the offering.”
Moffitt said he enlisted “my bitcoin expert,” Howard Gerson, founder and CEO of Mobile Currency LLC, to handle the transaction process if a sale occurred. The Overland Park, Kansas-based company is a merchant processor for bitcoin transactions.
Gerson told the Kansas City Business Journal that fluctuations in bitcoin value will have to be considered in a real estate transaction. Mobile Currency will determine how much bitcoin is worth at closing and then process the conversion the next day. The property was still on the market at the end of March.
For sellers concerned about security, Gerson noted that each bitcoin transaction is stored in blockchain, providing a record of the transaction.
Real estate sales in bitcoins or other cryptocurrencies have occurred in California, Texas and Florida.
Moffitt said it’s uncertain how prevalent bitcoin transactions will be in Kansas City and in other parts of the country. But he said offering to accept bitcoin is another way to get buyers to consider properties. Kansas City is a growing regional technology center with enthusiastic followers of blockchain and cryptocurrency.
Gerson said many bitcoin users are considering real estate purchases because of the increase in the value of their holdings.
“They enjoyed a good year, and many of them are looking to convert some of that currency into other opportunities, including real estate,” Gerson told the Kansas City Business Journal.

Terry Wooten
Terry Wooten is a veteran business journalist. He served as an editor for nearly eight years for Dow Jones Newswires. Earlier in his career, he was a bureau chief for UPI. He has supervised coverage of the global commodities markets and covered a range of other topics.