Fast Home Sales: iBuyers vs. Realtors
Making the Right Choice for You
When deciding whether to list with a realtor or sell to an iBuyer, it's important to consider the specific advantages of each option. iBuyers, such as Opendoor, Mark Spain, and Offerpad, offer speed, convenience, and certainty to sellers. They provide all-cash offers, eliminate the financing contingency, and can be more flexible about a home's condition.
This can be advantageous in situations where a quick sale is needed or when the property requires significant repairs. However, it's essential to highlight that selling to an iBuyer can realistically cost between 10% and 15% plus repair costs, which is higher than the costs associated with a traditional real estate transaction.
On the other hand, listing with a real estate agent provides invaluable insight into the market and selling process, and offers more flexibility in terms of pricing, negotiations, and final sale price. While a traditional real estate transaction may take longer, it can result in a higher dollar amount for the seller, even after accounting for the brokers' commission. Additionally, real estate agents have a responsibility to represent the seller and get the best price for their home, which may not be the case with iBuyer programs.
In the Atlanta market, both iBuyers and real estate agents play a significant role. Homeowners should carefully consider their specific needs and the condition of their property when deciding between the two options. While iBuyers offer speed and convenience, the personalized experience, guidance, and potentially higher net proceeds associated with listing with a real estate agent make it the recommended choice for the majority of clients.
If you're considering selling your home, I can help you navigate the iBuyer process and ensure that you make an informed decision. Contact me today to benefit from my expertise in working with both iBuyers and traditional real estate transactions. Let's work together to analyze your specific needs and find the best approach for selling your home.
My Recent Experience with iBuyers
Location: Hampton
Initial Net Offer: $235,900
Final Net Sales Price: $260,300
Despite the need for significant repairs and updates, a major iBuyer initially offered our client $235,900 for their home, built in 2007 with a new roof. However, leveraging our negotiation skills, we secured an increased offer of $260,300 and closed the deal in just 8 days. This swift transaction enabled our client to proceed with their new construction purchase and targeted move date, ensuring a seamless transition.
My Recent Experience with iBuyers
Location: Hampton
Initial Net Purchase Offer: $235,900
Final Net Purchase Sales Price: $260,300
Despite the need for significant repairs and updates, a major iBuyer initially offered our client $235,900 for their home, built in 2007 with a new roof. However, leveraging our negotiation skills, we secured an increased offer of $260,300 and closed the deal in just 8 days. This swift transaction enabled our client to proceed with their new construction purchase and targeted move date, ensuring a seamless transition.
Location: Avondale Estates
iBuyer Offer: $350,600 (prior to inspection, fees or repairs)
Final Listing Sales Price: $409,700
The leading iBuyer presented an attractive offer of $350,600 before factoring in inspection, repairs, and fees. Anticipated fees stood at 15%, with repair costs estimated at $35,000. Despite incurring repair expenses of $15,000, which could be settled at the time of closing, my client leveraged my proven marketing strategies and expertise to secure a sale at $409,700. This resulted in my client pocketing nearly $125,000 more.