Why Sell With a Realtor vs. an iBuyer?
There are four major iBuyer companies in the market: Redfin, Zillow, Offerpad, and Opendoor. These companies are spending a lot of money on advertising in their attempts to disrupt the market. In the 18 major markets that these companies operate within, they hold about a 3.1% market share.
As real estate professionals, we’re able to get you more money than you’d get by selling to iBuyers. We sell homes on the open market at a retail price; iBuyers want to undercut the value of your home and charge you higher fees. The premise is that they’ll pay you in cash and allow you to close quickly, but they have to purchase your property at a substantial discount price to make a profit.
iBuyers may be good for people who need to sell quickly and can’t or don’t want to do a lot of work to prepare the home for sale, but a study from Marketwatch shows that iBuyers get sellers around 11% less for their homes on average compared to what Realtors get them. That’s accounting for fees, the price sellers pay, the repairs that iBuyers want them to do, or the discounts they’re trying to get.
Since a Realtor can get you 11% more on average, how would that look? On a $400,000 home, that amounts to $44,000 you could lose by selling to an iBuyer instead of a Realtor.
Convenience is the other promise of iBuyers, but let me explain why not even that is a solid reason to choose an iBuyer over a Realtor: As professionals, we’ll help you through the process from A to Z. If you do need a quick cash sale, we can shop your home to iBuyers; if we can’t get you the price you want, we can see what the iBuyer can offer.
That’s why you owe it to yourself to speak with a Realtor. They’ll walk you through the process from beginning to end and negotiate in your best interest to get you the most money in a retail open market.
If you’re thinking about selling your home, contact us here at the Robert Little Group. I can meet with you, help you figure out how much your home is worth on the open market, and also help you see what iBuyers would be willing to offer you for your home. I’ve sold close to 600 homes over my career, and my goal has always been to get you the most money possible for your home. We’d love to work with you.