Selling to an Instant Offer Company: What are the Pros and Cons?

**Should You Sell to an Instant Offer Company?**

Hey y'all, let's talk about something new in the real estate world: iBuyers.

iBuyers, or instant buyers, are companies that make you an offer on your home almost instantly. Ever heard of Opendoor, Offerpad, Redfin, or Zillow Offers? These are some of the big names. They promise to give you an offer within a couple of days and can close the deal in one to two weeks. Unlike the usual house flippers, iBuyers aren’t on the hunt for fixer-uppers. They’re looking for moderately-priced homes that need a little sprucing up before they’re relisted.

Now, let’s get real for a second. One downside to selling to an iBuyer is that you won’t get top dollar for your home. These companies need to make a profit, so they typically offer you about 10% less than the market value. They use online algorithms to value your home, like Zillow Offers often using their Zestimate price.

Also, keep in mind that iBuyers are quite picky. They accept only a small percentage of homes submitted. If they decide to make you an offer, they might send out an inspector to see what needs fixing. Be sure to read the fine print because you might have to cover some of those repair costs.

Yes, working with an iBuyer means you won’t have to pay the typical 5-7% real estate agent commission, but don't be too quick to celebrate. iBuyers have their own fees, usually between 6 to 9%. When you add up all the costs, it could be as much as 12-15% of your selling price.

So, who benefits from selling to an iBuyer? Mostly folks who need to sell quickly and don’t want to deal with the hassle of traditional marketing. If you’re okay with taking a bit less for your home in exchange for a faster sale, an iBuyer might be a good option for you.

Before you jump in, let’s chat about your options. I’d love to help you figure out what’s best for your situation. Give me a shout, and we’ll find the perfect solution for you!