One question we hear so often from many of our clients is “what is an iBuyer?” In this post, we bring some light on the subject to help you decide if you should work with one or not! There are many things to know about and we want to make sure you have all of the information you need!
iBuyers like Zillow and OpenDoor are the latest trend in the real estate world. While their services allow you to sell your house relatively quickly, you may end up receiving far less than had you sold in a different manner. Once you factor in all of the fees they charge, the amount you receive will be even less. Below, we offer answers to some of the most frequently asked questions we hear from homeowners who want to sell a house fast in Greenville and are curious if they should use an iBuyer, sell directly to a professional home buyer, or put their house on the MLS with a Greenville real estate agent! Keep reading to decide which selling option will work best for you and your unwanted house in Greenville and the surrounding areas of South Carolina!
What Is An iBuyer?
iBuyers are companies that purchases properties sight unseen, often for much less than market value. There are many major companies getting involved with iBuying, which is quickly changing how houses are bought and sold. iBuyers use technology to make you an offer for your house almost instantly. After all, the “i” in iBuyer stands for instant. They can simplify the home selling process which is very appealing for people who need to sell a house fast in Greenville. However, working with an iBuyer can come with some serious cons. You will likely receive much less for your house, not to mention all of the costs and fees. In many cases, home sellers will miss out on thousands of dollars which usually isn’t worth it. Working with an agent or a Greenville cash home buyer such as House Hub Real Estate Solutions will help you to save time and money on the home selling process. Our offers are fast, easy, always fair and we are local so we know the local real estate market!
How Are Their Offers Determined?
Typically, the offers an iBuyer company makes are pretty general. Of course some property information will be calculated into the offer, but otherwise, the offer is often based on geography and the size of your house. Agents and property buyers use what is called a comparative market analysis which uses the data of recently sold homes in your area to determine what your house is currently worth. iBuyers use what is called an automated valuation model, or AVM, which is similar to a CMA, but it uses technology to evaluate the property as opposed to a real live person running the numbers. A lot is often missed using this process and home sellers aren’t typically able to negotiate with iBuyers. In many cases, the iBuyers offer is simply take it or leave it.
Does Their Process Work?
Although the process is pretty simple, you need to keep in mind that you get what you pay for. First, you submit the details of your property. The computer will run a few numbers, quickly spitting out an offer for you. It can be difficult for a computer to accurately calculate all of the attributes of your home, leaving you with a standard price that will be used for many properties in your area. The process can work for some home sellers in Greenville, however, working with an agent or a professional buyer will likely get you more cash for your house, because of the human touch.
What Do They Charge?
The costs of working with an iBuyer can be pretty hefty! According to Marketwatch, an iBuyer will charge up to 11.5% in commissions and fees. That is just about double what an average agent will charge you in commissions, plus your offer will typically be much lower than what you would be able to get on the MLS. If you need to sell your house fast, for a great price, without any cost whatsoever, House Hub Real Estate Solutions will buy your house outright. In most the team at House Hub Real Estate Solutions will discuss what your goals are and present you an offer that is fair and meets your needs.
How Is House Hub Real Estate Solutions So Different?
At House Hub Real Estate Solutions, we work with local Greenville home sellers, helping them to reach all of their selling goals. We buy houses directly, always for fair and honest prices. We handle all of the details and will close on the property at your convenience, we are typically ready to go in only about 7 to 14 days. When you work with our team at House Hub Real Estate Solutions, you won’t have to worry about expensive fees or hidden charges. Our process is fast, simple, and will help you with any unwanted property in the Greenville area. Don’t agree to sell to an iBuyer in Greenville until you learn more about the services we can offer you! A simple phone call can put more money in your pocket.