Should you work with or consider an offer from an iBuyer?
iBuyers are also known as internet buyers or instant buyers. The iBuyers of today’s market are companies like Zillow, Opendoor, Offerpad, and several other prominent names. Since I’ve worked with most of them, here are some things to consider when contemplating whether to work with iBuyers:
iBuyers are so enticing because they will bring you a cash offer. Often they will close within a three- to four-week period or sooner. They may purchase the property in as-is condition. So the convenience of those offers is an extra value.
However, these companies are usually purchasing properties between 10% to 20% under market value. So when you work with an iBuyer you will not net the most money off of your home sale.
Many of my clients call and say they’re considering this offer, and I am glad to go on the MLS for you, look at the property, and see what we can list and sell it for. I’ve done this hundreds of times. I’ll look at commissions, inspections, and how much you’ll net if you work with me compared to an iBuyer. Often I’m seeing that we’re able to net clients anywhere between $10,000 to $25,000 thousand more selling it though me as opposed to the iBuyer.
Don’t be too hasty to take those quick offers, do your due diligence. If it makes sense, I will let you know to go ahead and move forward with those iBuyers. But allow me to do the free due diligence for you first.
If you would like me to look over an iBuyer’s offer or you have any other questions, email or call me, I would be happy to help you.