What is an iBuyer and should you use one?

Increasingly, we’re hearing of home sellers being approached by iBuyers – those companies who purchase your home quickly without you having to list and have showings. The largest iBuyers include Zillow, Opendoor, Offerpad, Simple Sale and Redfin Now. It’s a tempting approach for many appearing to be simple and fast, but is it really worth it? I know from experience that working with an iBuyer can mean that you’re leaving money on the table. If you have questions about iBuyers, contact me and I can tell you more.

For some basic information about today’s iBuyers, check out the article below from Nerdwallet.

An iBuyer, or “instant buyer,” is a real estate company that uses algorithms and technology to buy and resell homes quickly. When selling a home to an iBuyer, you may get a cash offer in as little as 24 hours without the hassle of staging and repeatedly showing the home.

You can also buy a home from an iBuyer. The companies’ websites or apps let home buyers view available properties, schedule tours and request information to get started. Closing may occur more quickly with an iBuyer because you don’t have to accommodate a traditional seller’s timeline.