October 4, 2020
3 MINUTE READ
Recently, there has been a lot of buzz and hype around one of the newer trends in real estate tech — iBuying. For an industry that has historically remained traditional and even “old school” in the face of major digital disruption, this rapid rise of innovative home buying companies is huge. Armed with unique algorithms, these programs are designed to seek out deals and purchase properties utilizing technology.
Of course, as with any new trend, the long term effects of iBuying remain yet to be seen or understood. However, this much we know: iBuying has the potential to unlock tremendous value for the home seller, as it immediately adds liquidity to any real estate holdings.
Instant doesn’t always mean better, but it does mean easier — and we’re here to argue that iBuying represents an exciting, and long overdue, shift in the real estate industry.
What is iBuying?
An iBuyer is a company that utilizes technology to instantly (or, at the very least, quickly) make an offer on your home. iBuyers assume all the burden of owning, marketing, and then reselling your home. There are a number of different platforms that offer this type of service, each with its own unique benefits.
But is using an iBuyer right for you? How do you know? Here are # reasons we think that getting a quote from an iBuyer is always a good idea.
An iBuyer allows you to know where you stand (almost) instantly
There’s no better — or faster — way to get an idea of where you stand in today’s market. Getting a quote from an iBuyer allows you to have an idea of what you can get for your home almost instantly. This can help you know where you stand and also help with planning your next move and purchasing your next home.
You can’t beat the convenience and speed
When you’re selling your home, some of the biggest headaches can come from staging, marketing, and showing your home. Thankfully, using an iBuyer allows you to cut out this part of the sales process, saving you time (and also possibly your sanity). Additionally, if you choose to work with an iBuyer, you won’t have to wait weeks or even months for the home inspection, loan underwriting, and closing process to wrap up; rather, you can be on your way in a matter of days. If you need to relocate quickly, or if you just don’t want to deal with the open market, this can be an ideal solution.
Other things to consider
Of course, as with anything else, there are both benefits and drawbacks to any service. When considering working with an iBuyer, it’s important that you decide what matters the most to you. If you’re in a rush to sell your home quickly — say, if you’re relocating — iBuying could be an interesting option for you.
On the other hand, if you have more time to prepare your home for the market, listing your home for sale on the open market could actually result in more money in your pocket, in the long run. Only you can decide if the ease and convenience of iBuying outweigh the premium you’ll pay to have an iBuyer purchase your home.
Selling your home and purchasing a new home simultaneously is stressful for anyone. And, in this situation, neither working with an iBuyer or getting a traditional offer will help you much. To help alleviate this stress, we have launched a new program called Reali Cash Offer, designed to provide buyers with stronger, all-cash offers to help streamline the home buying process. Learn more about our Cash Offer program, which boasts a higher win rate, faster closings, and an overall streamlined process.
We’d love to talk to you about buying or selling your home. Contact us to get started today.