Les leçons à tirer d'iBuyer

Buying a domicile is one of the largest single purchases most people will ever make. A propos de 40 percent of Americans say that domicile-buying is the most stressful event in modern life and selling an existing domicile 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 domicile-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 agents and brokers. But now the housing slowdown is raising new questions à propos de the future of iBuyers. With domicile prices cooling, iBuyers, or instant acheteurs, 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 domicile-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. domicile 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 domicile, 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

A propos de Century 21 Real Estate Alliance- Century 21 Real Estate Alliance Group is the largest Century 21 brokerage in California powered by over 1500 real estate agents working from 35 bureaux throughout California. Now offering Escrow and Lending services specializing in solutions-based lending.