How working with an iBuyer compares to working with an agent.
Should you work with an iBuyer? There’s no simple answer to this question, so today I’ll cover the pros and cons of working with iBuyers.
First, what is an iBuyer? They’re investors who want to buy your house to either flip or rent it. They’ll typically send you an email, a postcard, or a few texts. Sometimes agents will even work with iBuyers directly.
Deciding whether you should take their offer comes down to two things: convenience and price. Working with an iBuyer is easier than selling on the open market. You don’t have to stage your home or worry about people coming through to look at it. However, you’ll usually get a lower offer than if you had sold traditionally.
Most people assume they’re saving a commission fee by working with an iBuyer. That can be true, but most of them charge a convenience fee instead, which can be anywhere from 1% to 7% of the sales price. In addition, iBuyers will do an inspection just like any other buyer would, and they tend to ask for anywhere from $1,000 to $10,000 off the final price. How does this compare to working with an agent? Our job is to expose your property to a broader market by staging, marketing, and pricing it correctly. We want to create demand for your home and get you the highest price possible. However, that means there’s some work involved.
If you have any other questions about working with iBuyers or the real estate market in general, email or text me. Stay in touch!