Are you thinking about selling to an iBuyer in Omaha? It works well for some but it’s important to understand other valuable alternatives as well.
The rise of iBuyers is making a big impact on the real estate market. iBuyers are companies that use technology, like automated valuation models, to determine what your house is worth and then quickly make a sight-unseen offer on it. There are some definite pluses – like no staging and no open houses. But while the convenience can be appealing, there are ways to sell that are just as easy, without costing you a fortune in costs or fees. Keep reading to learn more about iBuyers and the risks they pose to home sellers in Omaha and elsewhere.
When you work with an iBuyer to sell your house the process will likely be more impersonal than when you work with an Omaha agent or a local home buyer such as Anna Buys Houses. An iBuyer won’t be able to take the time to get to know you, discuss your goals, or talk about any specific challenges you’re concerned about in selling your house. Usually, they’ll just make a quick offer and move onto the next house. In many cases, you are just a number to them.
An iBuyer won’t be able to take time to learn about your property’s unique benefits. Instead, they use automated software to determine the home’s value. While computers can do this relatively well, they can often miss things that affect your home value. iBuyers often make blanket offers to homeowners in a specific region. While the price might work for some, it may not work for you. It can often be more beneficial to work with someone with their feet on the ground as opposed to relying on what a computer has to say about your property.
Not Usually Local
Knowing the metro Omaha area and the various neighborhoods can really help buyers offer fair prices for homes. iBuyer companies typically buy houses nationwide, making it nearly impossible for them to understand every nuance of the local real estate market. As local home buyers, we understand the Omaha market. We will always offer and pay a fair price, and close on a day that works best for you. When you work with an iBuyer, you’ll need to operate according to their schedule, and possibly even clean up before you go.
Less Wiggle Room in Negotiations
When you work with a professional home buyer or an Omaha real estate agent, you will have a little more wiggle room when it comes to the negotiations. With iBuyers, they make you an offer and that’s pretty much it! If you want to negotiate, they may just decide they don’t want to do that and simply move onto the next property seller. With investors like Anna Buys Houses, we want to work with you to find the price that makes the most sense for both you and us. We aren’t trying to buy your house at the lowest price possible, but rather want to work with Omaha homeowners one-on-one to find the offer price that meets both your needs and ours.
Higher Fees Than Agents
Working with a real estate agent will typically cost about 6% in commissions. Working with an iBuyer can cost anywhere from 7.5-11.5% of the sale price. So, as an example, let’s say you sell your home to an iBuyer for $200k. That may cost you $23,000 in fees and closing costs. And their offer may be lower than what you would receive on the open market. If you want to avoid ALL agent fees and commissions, selling to a private, professional buyer is a good way to go. You won’t make as much as you would selling through a local real estate agent, but professional home buyers typically don’t ask for repairs to be made or any sort of cleanout. Working with a company like Anna Buys Houses will ensure you receive a fair price without any of the red-tape or fees.