On the heels of our first-ever Agent Appreciation month, Inman is leaping into February with our Residential Finance theme month. Join us as we investigate how buying and selling a home is changing, from companies backing consumers in new ways to integrated services that handle the entire transaction.
Pulse is a recurring column where we ask for readers’ takes on varying topics in a weekly survey and report back with our findings.
Last week, we asked readers how they’ve tweaked their listing presentations in response to the rise of iBuyers, startups that use technology to quickly buy and resell homes.
One takeaway from the responses is that, despite all the hype, iBuyers have had a limited impact so far. Nearly half of respondents said iBuyers aren’t operating in their market, and a quarter said they don’t present alternatives to a traditional service offering.
The other quarter, however, has made some adjustments. Some are bringing real iBuyer offers to presentations and casting them as a legitimate option. Others are providing estimates of iBuyer bids that make listing with them on the open market look superior.
Here’s what readers had to say:
- I offer iBuyer alternatives with Keller Offers. I’ve found the iBuyer is a good alternative if timing is more important than money.
- Phoenix has a strong iBuyer presence (5 percent). I offer sellers a choice: the high road with a traditional agent like myself or the low road to fast cash with high costs. IBuyers can help show the difference between wholesale and retail.
- I provide a comparison of sellers’ net based upon nationwide charges of iBuying programs, contrast that to my comparably low 6 percent commission and then show them how I can match the quick sales they desire and net them significantly more money without taking very much additional time. IBuying is Wall Street, it and works to gain investors massive profits; I work for the sellers, and they win.
- I show them they can sell it now at this price if they do no work. But if they do some improvements, they could sell for this price.
- I bring buyer quotes to the table.
- We present offer comparisons and let the seller choose what’s best.
- I’ve added content about my social media strategies.
- Just had my first contract from an iBuyer. I presented it to the seller. With multiple offers, we chose one where the buyers had actually seen the property.
- I am a certified iBuyer agent for Keller Williams and Offerpad. I present both options to sellers.
Editor’s note: These responses were given anonymously and, therefore, are not attributed to anyone specifically. Responses were also edited for grammar and clarity. Inman doesn’t endorse any specific method and regulations may vary from state to state.
