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An Explanation of How iBuyers Work

Tuesday, November 19, 2019   /   by Burnice Villanueva

An Explanation of How iBuyers Work

What are iBuyers, and should you consider selling your home to one? I’ll help you answer both questions today

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iBuyers are relatively new to our real estate world. They’re companies that will make you an immediate cash offer to buy your home. Prominent companies like Offerpad and Knock have reached different parts of our market, and they offer a quick home sale for a low price.

As a real estate professional, my job is to help my clients prepare their homes to sell for the most amount of money that today’s market will bear. In other words, the exact opposite of what iBuyers are trying to do.

Think of it as selling wholesale versus resale. iBuyers want to purchase your property at a wholesale price so that they can turn around and rent it out or sell it for a profit. Our job is to sell your home for top market value on the resale market.

With an iBuyer, you can skip the preparation process and simply pick your closing date. Our job as agents is to educate you to price correctly so you don’t leave any money on the table and cast a wide marketing net to ensure that as many buyers as possible see your property when it’s listed.

iBuyers want to purchase your property at a wholesale price.

Is one option better than the other? It depends. In today’s market, inventory is still relatively low and buyers are abundant. More buyers and fewer sellers means less competition for you as a seller.

If you’re thinking of taking an offer from an iBuyer, reach out to us first and we can help you weigh the pros and cons of this kind of sale versus a traditional one.

If you have any questions about this or any other real estate topics, please reach out to us via phone or email today. It’s our pleasure to serve you.

  home selling