What You Need to Know About iBuyers

iBuyers are coming to our market sooner rather than later, so here’s what you need to know about them.

Buying a Jonesboro home?  Get a Full Home Search

Selling your Jonesboro home? Get a Free Home Price Evaluation

These days, everything is internet-driven. If you want to know the answer to any question, it’s right there at your fingertips.

The real estate industry is no different, and some of the bigger companies (e.g., Zillow) now have iBuyers, or “internet buyers.” iBuyers will make an offer on your home without ever having seen it. 

“

This trend hasn’t really affected our market, but it’s coming sooner rather than later. 

”

How does this work? A ton of information is dumped into Zillow daily—information that gets pulled from the MLS. They see the most recent listings and sales, and based on that information, they buy houses across the country. This trend hasn’t really affected our market, but it’s coming sooner rather than later, and when it does, it’ll be interesting.

If you’re wondering why I bring up this topic (Won’t iBuyers end up cutting me out of a transaction?), I’ll say this: At the end of the day, we’re here to serve all of your real estate needs. Whether my team’s sign is in your yard or not is irrelevant as long as you’re happy with the transaction.

I’ve talked to agents across the country who come from markets where iBuyers are prevalent. I’ve heard of some offering to list a person’s home, only to have an iBuyer offer to buy it for the same price. I’ve also heard of iBuyers offering to buy homes for less than what they’re worth.

If you decide to sell to an iBuyer, I still recommend reaching out to a professional agent so they can give you a market analysis.

As always, if you’re thinking of buying or selling soon or would like to know the value of your property, don’t hesitate to reach out to me.