What’s the deal with instant offer companies that seem to be popping up all over the place lately? These companies, also known as “iBuyers,” may be a viable option for some, but before you take the plunge into such an arrangement, there are a few points to consider.
Opendoor, Zillow, and OfferPad are some of the most prominent companies behind this trend, but it’s important not to conflate brand recognition with trustworthiness. In short, just because you’ve heard of Zillow, that doesn’t mean selling to them is a good idea.
So what exactly are instant offer companies doing? In short, they buy homes for between 10% and 20% below market value (on average), claiming that this arrangement is more convenient for sellers than listing on the open market.
The truth is that these iBuyers are really just looking to make a quick buck. Their plan is to offer you a “convenient” arrangement at a cost. Sure, by selling to an iBuyer you get to avoid the listing process, but is that worth the inordinately low price you’ll earn for your home as a result?
Unless you’re interested in throwing away money, then no. You’re almost always better off pursuing a traditional selling experience. If you’d like to learn more about how easy and convenient the listing process can be when you work with our team, don’t hesitate to reach out.
As always, 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.