We are excited to be having some more guest bloggers on our site this week! Today's article is brought to you by our favorite group, Happy Writers Co. They've written an article for us about iBuyers and the pros and cons about using iBuyers like Zillow, Opendoor, etc.
Selling a home in today’s real estate market is painfully complex. The idea of a more convenient way to purchase real estate has led to a new figure – iBuyers. For some realtors, iBuying is redefining the way we look at selling properties. Still, as we look into the future of real estate, we must consider the pros and cons of these more technology-driven processes.
What is an iBuyer?
An iBuyer is a company or person that uses technology to make an offer on a home automatically. iBuyers operate in different ways, but overall they tap into data and artificial intelligence to estimate the value of a property and make an offer. The idea is that this new process will eliminate the burden of trying to price and negotiate the value of properties, making it easier and faster for all parties involved.
Pros of iBuyers
Those in favor of iBuyers and technology taking over the home selling and buying process believe that it has many advantages, including:
Of course, selling or working with an iBuyer isn’t for everyone. Some real estate agents are talking about the disadvantages of iBuyers, including:
Geraldine Orentas is a writer from Happy Writers, Co. in partnership with Italian linen retailer, Linoto.