We’ve all seen the TV ads, postcards, billboard signs, social media posts, etc. . Get a guaranteed offer on your home. You would think from all the advertisements this is a popular option.
The reality is nationwide only 1.3% of all home sales were purchased in this fashion. It is called iBuyer, which stands for instant buyer, and many companies and some agents have offered it. Why isn’t the iBuyer concept more popular?
Some agents use iBuyer as a listing lead source. They really do not want to purchase your home, but it gets sellers to make the call. Sellers are naturally curious what they can sell a home for with no hassles. It isn’t until they receive the instant price that they are turned off, but the agent is there and can offer them a better solution. The agent also has a full-value program whereby they list the home on the open market and fetch a much better price. If it doesn’t sell, the seller always has the fallback option of the lower instant offer.
Keep in mind, the agent may never wish to buy the home. They use this as a listing lead source to get in the door. And, if they ever do have to buy a home, for darned sure they want to make money off it. So, who loses? Typically, the seller. The seller may be so worn down after a lengthy listing process that they agree to take the lower instant offer. In fact, they might be convinced that the market was never as high as they believed and the instant offer is the fair market value, which may not be true.
Guaranteed Offer on Your Home is a Lead Generation Tactic
I know of an agent in another state that has offered this program. I asked him how many homes he has bought, and he said none. The program is a listing lead generation program.
True iBuyers wish to purchase your home at a discount and sell it for more money in hopes of making a profit. Generally, the home must meet certain parameters. iBuyers like homes that are in good condition and have established neighborhood data. They like homes to be in certain sellable price ranges, usually less that $500-$600k, and not require much remodeling or repairs. They are similar to flippers, except some flippers are willing to remodel and improve the home if they can buy it right.
A Better Faster Way
Many sellers do not know that there may be a better option for them. We became aware of a system that attracts top dollar for homes and sells the home in 8 days, so the amount of time showing is limited. One thing sellers do not like is having their home on the market for months and keeping their home show-ready all that time. Plus, the longer a home sits on the market the more buyers wonder what is wrong with it.
The Ellis Team invested time and money learning this new system, and so far the results have been amazing. We used the new system on 4 listings and 3 out of the 4 indeed sold within 8 days or so. Two sold at full price or better, and the third was close but had significant hurricane damage so the price was adjusted. The 4th is close to selling as well but has gone over the 8 days. This is significant because in each case the seller has done better than the market. Listing inventory is growing in SW Florida and traditionally marketed homes aren’t receiving multiple offers like they were last year. Many of our listings using this new system are receiving multiple offers.
If you are thinking of selling, give Sande or Brett at call at 239-310-6500. We’d love to sit down with you and show you how you can maximize your home sale and do it quickly. We do have investors that are buying homes instantly. If an instant sale is your thing, we can look at that. The reality is, we can probably net you more money and have a fast sale. Call us and we’ll talk.
Good luck and happy selling!
Coming Soon Listing in Eagle Reserve
4 Bed, 3 Bath Pool Home on the Lake-Gated Community