If you are paying attention to the Real Estate market you had to have seen how many ads are being displayed for "WE PAY CASH FOR YOUR HOME". They will even go on to say that it is a fair offer. Very subjective. These "we pay cash" buyers have been around for a long time and is not going to go away. What is a little different, is that since the market has been so hot recently, there are more of these companies showing up. I know you have seen the ads. Now, you are seeing big names get into the game....Major Corporate names getting involved. Why not right?
Instead of the "cash buyer" theme, we are now seeing "iBuyers". iBuyers stand for 'instant buyer'. Sounds better marketing wise......
That is what it is all about. I can't say I disagree with the concept. It sounds really enticing to have someone walk in your home and just write a cash offer. BUT, some don't even see your home, they just look at the numbers, compare size and age to other homes close by, send you the offer and you are under contract. Then, you MAY have them come back a few days later and say....oh, by the way, we need to adjust our offer because of the condition of your home. Some companies do come in and look at your home and make you an offer. You say 'no' and viola, they say, "OK, I know you don't like our offer, but now let us list your home for the price you think it is worth". JEDI Mind Trick??? Maybe. Maybe it's right for some. I don't know, but talking to more than one Real Estate Firm is worth it's weight in 'equity'.
As noted previously, the cash buyer thing is nothing new. What is new is the big names coming in and making an offer and then saying, "OK....then let us list it for your price". In my opinion this is brilliant marketing and nothing wrong with it. At the same time, most people are smart enough to read between the lines. You are intrigued by the thought of a quick cash offer, get the company in your house for "that offer", you don't like "that offer", then they say they can list your home for "that offer" you want. Again, this may work for some, but one should always think things through. Is this best for you? Maybe.
The one thing I can say for sure is there is definitely a market for this business model and again, there is nothing wrong with it in my opinion. The ideal candidate for this model would be someone who has not kept the house up over the years...it's called 'deferred maintenance'. They really just want to get out as they may or may not have a lot of equity, may or may not have a lot of time for the sale to happen, and frankly, just as the ads say, they don't want to deal with the traditional process of selling a home. There is the flip side to that scenario, a homeowner that wants their house marketed professionally to show off how awesome their house really is and to get top market dollar for what they have rightfully earned.
Just be informed. Make prudent decisions. Choose an agent you trust. It is, obviously, what is best for you!