iBuyers are here to stay in our real estate market, but they’re not a good option for every home seller. Here’s what you need to know about them.
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Today we’re going to talk about all about iBuyers, what they offer to homeowners, and whether you should consider using one when you want to sell your home.
We’re living in a really exciting environment in real estate, and it’s ok if you’re a little bit confused about all this. To be honest, I was confused at first when I saw all of these iBuyer companies pop up and start looking to buy homes. From Zillow to Opendoor to Offerpad, along with local mom and pop investors, there’s no shortage of homebuyers out there today.
What does this mean for you? First and foremost, it means you have options. For most consumers, the best option for selling your home is fixing it up yourself, marketing it properly online, and creating a fantastic environment for buyers to fall in love with your home. This is how you net the most money on your sale. At the same time, it’s the least convenient option because you have to invest a lot of time and money into it. You also have to find a good agent.
We’re living in an exciting environment in real estate.
With iBuyers and other investors, you may get the idea that all they’re going to do is make you a lowball offer. However, we’re starting to see that that’s not necessarily the case. One service we provide for home sellers is helping them shop their home around to all the different investors to see what they’re willing to offer you. Sometimes it might make sense to pocket that money, have a more convenient sale, and not have to invest the time and money in preparing it yourself. We don't know the right answer until we look at your specific situation.
One fun fact to know is that last year in Phoenix, iBuyers accounted for 10.5% to 11% of all of their sales. Many are giving offers that are similar to fair market value if you were to sell the home as is.
Occasionally, we encounter folks with a distressed rental or an inherited property where it might make sense to sell to an iBuyer. If it makes sense, we can use our network to help you find the right iBuyer. It comes down to price and convenience. If you want a high price, the convenience will be low. If you want high convenience, the price will be lower.
If you have any questions for me about this topic or real estate in general, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.