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When selling a home, many dread the hassle of listings, showings and waiting for the right offer. Instant offer companies like Offerpad, Zillow and Open Door, also known as iBuyers, may offer to buy your home directly with a cash offer and save you time. While this is a convenient option, there are several factors to consider when deciding whether to put your house up on the market or accept a cash offer.
Benefits of Using iBuyers
Quick Move: If you are working on a narrow timeline, iBuyers provide the flexibility to accept a cash offer and immediately start looking for your next home within a matter of days.
Convenient: If you sell to an instant offer company, management of your sale can take place virtually, giving you more time to plan your move without listings and showings.
Competitive Offers: Instant offers are not always as lucrative as placing your home on the market, but there is less risk of financing falling through and rates are competitive.
Benefits of Open Market:
Top Dollar: If you decide to put your house up on the market, many buyers may compete for your home which will help ensure you get the highest market value.
No Hidden Fees: iBuyers claim to reduce fees by removing an agent's commission from the exchange, but instant offer companies still charge a commission percentage on top of holding and experience fees. This means you owe more for a potentially lower home offer.
Trusted Advice: Working with an agent ensures that you have a representative and an advocate who can leverage their knowledge and experience to get the best offer for you.
With the Instant Move program by Better Homes and Gardens Real Estate Metro Brokers, you can view all of your options before you sell. One of our experienced agents will compare offers from each instant offer company, contrast it with the price of putting your home on the market and present it to you for a more informed decision.
For more information on maximizing the return on your investment, view our seller's guide here, where you can also set up a consultation with one of our agents.