What is an iBuyer? This is a big buzz word in real estate right now, iBuyers are essentially companies that purchase real estate from property owners at a heavy discount. Does this seem like something you would be interested in? Likely not, as most home owners prefer to get top dollar for their investment, but in some cases an iBuyer can be the best solution. Some names that may ring a bell are Zillow, Homeward, Orchard, Offerpad & HomeLight. One thing to keep in mind is that all iBuyers are not created equal.
Let’s go over the pros and cons shall we? Pros include a quick process, no need to show your home and no need to pay REALTOR® commissions. Cons are a discounted purchase price and heavy transaction fees. This is probably an oversimplification, but make sure you review all the details.
While the iBuyer solution may be the best route for some people, it’s very important to understand the fine print, and at very least consult a trusted REALTOR® to understand your true market value as well as the fees related with using an iBuyer and how they compare to hiring a Pro. For example, iBuyer transaction fees can be as high as 10% which is well above what a full commission would cost.
You may be wondering why a real estate broker would blog about iBuyers. Well, the truth is, they’re not really direct competition. As real estate agents we are here to make sure our clients get the best possible outcome, which usually includes a top market price and a smooth transaction process with guidance and support throughout. That being said, at Austin House Company, we have developed a partnership with HomeLight which allows us to offer amazing progress like Homelight Cash Offer and the HomeLight Trade-In programs. These programs help buyers make offers with confidence and also also for sellers to avoid the listing process, but still maximize the return on their sale. Please contact us to find out more about these unique offerings.
The market is hot, and it changes often, we’re here to help you navigate the ebbs and flows and end up on top.
If you have questions about filing a Homestead Exemption this year or any other property tax related question, don't hesitate to reach out to us. You can also call our office at (512) 412-3564 or message us on Facebook, Instagram, or Twitter.