Thursday, May 30, 2019 / by Derek Gutting
SELLING YOUR HOME VIA iBUYER PROGRAM vs TRADITIONAL SALE
There are benefits to each method of selling your home as well as downsides. Your current real estate situation will likely dictate which is the best method for you.
Numerous companies have begun advertising their iBuyer programs including many national real estate firms (in select markets) and other real estate related companies such as Zillow, Knock, Redfin Now, Offerpad and Open Door. Even real estate agents/teams have their own iBuyer programs, such as The Gutting Group of Keller Williams Realty in Indianapolis, IN.
So what is this iBuyer thing all about? Essentially, the company offering this service will give you an offer for your home within 24 to 48 hours. Typically cash and as-is, but some concessions may be asked for based on inspections or condition.
What are the benefits to the iBuyer Program? Sellers do not have to list the home and show to prospective buyers, No need to put money into the home to get it ready for the market, speed of the sale, simplicity, certainty (very little fall out with this type of buyer) and convenience.
Sounds too good to be true, whats the catch? Each iBuyer program is slightly different in how they operate. Generally speaking, the offer being presented is net of a 6 to 8% fee. Potentially a convenience fee will be charged as well which varies.
The iBuyer program has real value to sellers that need to sell fast, need convenience and simplicity or who simply have a strong desire not to get the home ready for the market and or show the home to prospects.
Advertising your home through a professional real estate agent.
Whats the benefit to selling traditionally through an agent? Allows for maximum exposure to the market. The greater the exposure means more opportunity for prospects to view the home which means greater opportunity for offers.. even multiple offers. Resulting in an offer that should represent true market value.
Whats the downside to a traditional sale? Keeping the home neat and tidy for every showing, being inconvenienced while you leave the home during showings, strangers roaming through your home, potentially putting money into the home to get it ready for the market with no certainty when and if it will even sell.
If speed, convenience,certainty and simplicity are not of high importance, selling through a traditional sale using a professional real estate agent is typically the most popular option. While there may be a few more headaches involved, the end result should put more money in the sellers pocket, but at the end of that day, that is not always what the sellers are interested, which is why the iBuyer programs were created for.
Its all about giving the homeowners OPTIONS. Having options is a great thing. Which is why The Gutting Group decided to offer the iBuyer program to our clients. Of course, we have some restrictions in which some homes do not qualify for the iBuyer program.
We offer other options as well, including rental services for homeowners to rent their homes.
If you have further interest in learning more about your selling options, please do not hesitate to call our Indianapolis office at (317)8464888.