iBuyers: Is the convenience worth the cost?

If you’re thinking about selling, you might be considering an iBuyer—companies that provide nearly instant purchase offers on homes. iBuyers bring the certainty of a specific sale date and

relieve you of making home improvements or opening your house to buyers. But when it comes

to selling your home, is the convenience worth the cost?

As with most financial decisions, it’s best to

evaluate your options before selecting the path forward. That’s why we wanted to share with you a few things to remember when selling your home—no matter if it’s to an iBuyer or via the traditional sales process.

Know your home’s worth. iBuyers present an offer on your home based on an algorithm, but that formula may not consider more-difficult-to-measure features, such as natural light or updates to your home that may incentivize a higher sales price. Alternatively, by working with real estate professionals like us, we can evaluate your property against current homes for sale, noting your house’s specific amenities, to get a more accurate market value. Once you understand your home’s true worth, you can fairly assess the iBuyer offer.

Consider your upfront costs. Recent research by Collateral Analytics compared the fees associated with iBuyers and traditional real estate sales. They found the total cost of working with an iBuyer comes to 13-15% of the sales price, compared to 5-7% for a traditional sale.

Determine your goals. Do you need a quick transaction? Want a specific closing date? Or do you want to maximize your profits? Once you establish your real estate goals, we can help you achieve or exceed them. Depending on market conditions, a speedy sale could be secured on the open market or an iBuyer might be the better route. With our insights and support, we’ll put you on the path to success.

If you’re ready to sell your home, let’s talk. We’re here to help you fully assess all of your options and share with you our real estate expertise and local market knowledge. Contact us at info@thetassateam.com for more information.