iBuyer Platforms

For those that may not know, the term “ibuyer” is used to describe companies such as OpenDoor, Knock, and Offerpad to name a few. In certain scenarios, these can be great resources for a buyer who has an absolute deadline to get out of the home whether it be job relocation, bankruptcy, or whatever the case may be. However, in a more traditional scenario….THOUSANDS of dollars are being left on the table. The different companies will pitch you on not paying commissions, but instead they call their fee a “convenience fee” or “experience fee”. Let’s just think about it for a second…if a platform is going to buy your home and then sell it, there in it to make a profit…right? So how could they buy it from you at fair market price and then sell it and be profitable. They can’t…that’s why they offer much less than fair market value. Again, every scenario is different but this is just another reason why it’s important to work with local professionals.