These days, iBuyers have become a hot topic in our metro Phoenix area market; but what are iBuyers, and what impact have they had on local real estate? Allow us to explain.
First of all, an iBuyer is essentially a real estate investment company that will make an outright, all-cash offer on a seller’s home. These companies claim that the experience of selling to them is more convenient than listing on the open market. And this isn’t a new phenomenon. Remember those “We Buy Houses” signs you still sometimes see along the side of the street? The companies that put those up are iBuyers.
Here in Phoenix, sales to iBuyers represent 5% to 6% of all transactions every month. This is more iBuyer activity than in the Dallas, Orlando, and Raleigh markets combined. But does this prevalence mean agents should be fighting against iBuyers?
Actually, no. The key is to learn how to develop a strategy for working alongside iBuyers and incorporating them into your business.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.