The rise of iBuyers is having a dramatic effect on the real estate market. 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 Miami!
The Reality of Selling to an iBuyer in Miami.
Applying for an offer from an iBuyer is all done online. While at first, this might seem convenient and helpful; the truth is that this simplified selling process is impersonal, distant, and cold. Unlike a professional real estate agent or house buyer, an iBuyer won’t get to know you or the specifics of your situation.
iBuyers are at their core computer-generated offers spat at you via an algorithm that doesn’t take into consideration many of the key selling features of your home. This leads us to our next point!
As mentioned above, an iBuyer will not take the time to learn about what your property has to offer. Instead, they use automated software to determine the value of your home. While computers can do this pretty well, it’s obvious that key selling features will be overlooked. In the majority of cases, iBuyers will make blanket offers for homes in a specific region.
Our advice? Don’t commit to an iBuyer for your house in Miami until you explore all of your selling options. Surely working with a local professional such as our team at Sunshine State Buyers who genuinely knows the area would be a better solution! Run the numbers by getting a no-obligation offer from our team today!
We will make you an offer, plus we can help you understand what to expect if you’re considering working with a Miami agent or iBuyer instead. Our goal is to provide you with the information you need so you can make the best decision for you and your family.
iBuyers typically buy houses nationwide, making it nearly impossible for them to understand what makes you local community a great place to live. Luckily, as local home buyers, we understand the real estate market in Miami better than anyone.
We will always pay you a fair price and close on a schedule that suits you. When you accept an offer from an iBuyer, you have to work around their schedule. Plus, they might even ask you to hire a professional cleaner before you leave.
Less Wiggle Room
If you decide to work with a professional buyer or a Miami real estate agent, there will be a little bit of wiggle room when it comes to negotiations. This is not true for iBuyers! When they make an offer, more often than not, that’s it. There’s no going back to the drawing board.
Obviously, this works in the buyer’s favor, not the sellers. If you care about selling fast but want to find a price that works for you and the buyer, consider working with our team at Sunshine State Buyers. Unlike an iBuyer, we’re invested in making you an offer than benefits all parties involved. We’re not going to make an unfairly low offer without viewing your home as most iBuyers do!
A real estate agent in Miami will typically charge around 6% in commissions. Of course, in this instance, you could easily argue that this fee covers all their work involved, showings, negotiations, paperwork, etc. So, in some ways, it’s understandable that you have to pay your agent for their time and hard work.
Unfortunately, it’s impossible to argue this case for an iBuyer. For reasons beyond justification, iBuyers charge around 7.5-11.5% in commission fees. That is a fortune!
What To Do Instead
Selling to an iBuyer can be risky. Although it can be a fast solution for an old or run-down property, it comes with significant drawbacks.