Zillow Offers and RedfinNow announced this week that they are going to resume their iBuying. What is an iBuyer? Should you consider an iBuyer when selling your home? In this video, I discuss what an ibuyer is and why you should NOT consider them an option when trying to sell your home for Top Dollar.
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What is an ibuyer? ibuyer stands for internet buyer. These are typically companies, not people who buy a home directly from a seller. These companies typically use technology to make an instant offer on your home without ever viewing it.
Should you consider selling your home to an ibuyer?
No, if you want top dollar for your home, you should NOT consider selling your home to an ibuyer. Ibuyers will not only charge you more fees than a traditional real estate agent but they will also offer you significantly less money for your home than you could likely sell it for by listing it with a real estate agent.
Companies like Zillow, Redfin, Opendoor and the list goes are not in the business of paying top dollar for your home as they have a goal to relist the home after it’s purchase and sell it. They typically want to purchase your home for less money than it’s worth so they can turn and resale the home for a profit. Yes, they will pay cash and allow a flexible time frame in most cases but I still encourage you to have a conversation with a real estate professional as they may be able to provide you a similar option with less fees or even a higher price.
If you would like more information about ibuying or want further explanation as to why you shouldn’t consider these companies, please comment below or reach out to me directly.
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