LK Marketing and Real Estate

iBuyers bring more speed and certainty to a complex and traditionally stressful process.

Even though there are fees for convenience, the ability to skip house showings and zoom straight to closing is priceless to some sellers. Here are some of the main motivations to choose the iBuyer method.

Reason #1: Your priorities align with what an iBuyer can deliver.

One Realtor frequently explores the possibility of an iBuyer sale in early meetings with his clients. “That would be a conversation with the homeowner where you identify what is the most important part of the process for moving and selling for this client,” he says.

He recalls a recent client who bluntly said, “I don’t need to get every dollar out of the home. I just want to pack my stuff, get out of here, and know my check is going to be there when I’m done packing.”

Another top real estate agent in Florida often approaches iBuyers immediately after listing a house on the market. For many of her clients, the biggest advantage is the ability to get a quick offer.

Reason #2: You need funds from your existing home to buy a new one.

Having cash immediately available can help a seller more easily coordinate the purchase of their new home. Some iBuyer programs are specifically designed to help sellers trade in their home, similar to the way they would trade in a car.

Reason #3: You’re selling a house from a distance.

The iBuyer route is also convenient for homeowners who are selling from out of town or have tenants living in their properties, as there’s no need to juggle showings or worry about a water pipe bursting while the home sits vacant for an extended period of time.

Reason #4: Your house isn’t ‘move-in’ ready.

Inspections are usually less of a hassle when selling to an iBuyer. “Generally, an institutional buyer is just looking to make sure the home is safe and a good fit for who will be living there,” says Cowan.

HomeLight’s Simple Sale platform, for example, provides cash offers for homes in almost any condition. By contrast, many traditional buyers want a turnkey home. According to a survey from Coldwell Banker, 80% of Americans say they would prefer to buy a move-in ready home over one that requires renovations.

In summary, you might benefit from an iBuyer sale, if you:

• Live in an area where iBuyers are operational
• Need to move quickly due to a relocation, divorce, urgent need for cash, or another circumstance
• Prioritize your privacy, time, and convenience over huge profit
• Have a home that has been recently updated and is in good condition
• Have health concerns —  particularly with COVID-19 and other highly transmissible illnesses — and want to avoid people entering the home for showings and open houses
• Have made a contingent offer on another home and need to sell quickly
• Understand what your home is likely to sell for in a traditional sale

*Info provided by Homelight.com