These days, “iBuyer” has become a hot-button word in our real estate market. What are iBuyers, though, and should you work with one?
Before we get into whether selling to such an entity is a good idea, let’s first clear up what they are.
In short, iBuyers are investors who leverage technology platforms and use venture capital to purchase properties outright from home sellers. If you’ve ever seen those “We Buy Homes for Cash” billboards, then all you need to know is that an iBuyer is the modern equivalent of the companies behind those ads. Some of the top iBuyers in the game right now are Zillow, Offerpad, and Opendoor.
So, with that out of the way, should you work with an iBuyer? The answer depends on your goals and circumstances. If you want to net the highest amount for your home, it’s typically best to work with a Realtor on a traditional home sale. However, if you want a more expedient option, then selling directly to an iBuyer may be a good alternative. Since iBuyers offers are done in cash and are free of contingencies, selling to one tends to work well for those who care more about convenience than overall profit.
This is why our team lets every seller we work with know about this option. Even if you don’t want to go the traditional home selling route, our team would still be happy to help connect you with an iBuyer and guide you to getting the best possible offer from them. Sellers who partner with an agent or team of agents when selling to an iBuyer tend to walk away with much more in their pocket than those who strike up this kind of deal on their own. The best part is that working with an agent to achieve such a sale won’t cost you a thing.
Whatever your real estate goals, our team would be happy to have a conversation about what’s right for you.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.