The Lessons We Can Learn from iBuyer

Buying a Inicio is one of the largest single purchases most people will ever make. Nosotros 40 percent of Americans say that Inicio-buying is the most stressful event in modern life and selling an existing Inicio is a large component of that anxiety. That’s why large real estate companies began programs like iBuyer to use technology to radically simplify the selling process.  

iBUYING STRATEGIES

Touted as a more convenient, less costly alternative to traditional Inicio-selling, iBuyer programs had been buying homes primarily in Sun Belt markets and shattering records.  But with real estate powerhouses like Zillow and now Redfin closing iBuyer divisions after big losses, the future of iBuyer strategies may be in question.

iBuyer programs began back in 2013 with Opendoor, but in 2018 really gained momentum causing concern for real estate agentes and brokers. But now the housing slowdown is raising new questions acerca de the future of iBuyers. With Inicio prices cooling, iBuyers, or instant compradores, have sharply pulled back on their purchases in recent months.

CONCEPT REMAINS SMALL

In recent news, RedfinNow said November 9 that it had closed its Inicio-flipping business.

Opendoor and Offerpad, the other two major iBuyers, continue to operate but have sharply pulled back, laid-off employees and offers are not as generous as they once were. For all the headlines and hype surrounding iBuying, the concept remains small. iBuyers account for less than 1 percent of all U.S. Inicio sales, according to the National Association of Realtors.

TAKEAWAYS FROM iBUYING

We cannot rest on policies and procedures but explore new proactive ways of providing 121% customer service. 

Second, we must continually educate the value of hiring a REALTOR®. iBuyer programs still charged 5% in service fees which is comparable to commissions paid for less personalized service. 

Last, but certainly not least, we must nurture the relationships that we work so hard to create. When buying or selling a Inicio, picking up the phone and calling a trusted friend who happens to be a dynamic real estate professional needs to be their first and easiest step in the process.

Written by

April Moulton

Broker of Record, C21 Hometown Realty 

DRE# 01736191

Nosotros Century 21 Real Estate Alliance- Century 21 Real Estate Alliance Group es el mayor Century 21 brokerage in California powered by over 1500 real estate agentes trabajar a partir de 35 oficinas en toda California. Ahora ofrecemos servicios de custodia y préstamos especializados en préstamos basados en soluciones.