One question we hear from many of our clients is “what is an iBuyer?” In this post, we shed some light on the subject to help you determine if you should work with one or not! There are many things to be aware of and we want to make sure you have all of the information you need!
iBuyers have emerged as a popular choice in the real estate industry. Although they offer speed in selling your house, the final sale price may be lower compared to other selling methods. After considering all associated fees, your net proceeds could be further reduced. Here, we address common queries from homeowners looking to sell their house quickly in Kansas City. Should you opt for an iBuyer, sell directly to a professional home buyer, or list your property on the MLS with a Kansas City real estate agent? Continue reading to determine the most suitable selling approach for your property in Kansas City and its neighboring areas!
What Is An iBuyer?
Have you heard of iBuyers? These innovative companies purchase properties without physically inspecting them, typically offering lower prices than retail. The real estate market in Kansas City is witnessing a surge of iBuyer activity, revolutionizing traditional buying and selling practices. Leveraging advanced technology, iBuyers extend instant house purchase offers, streamlining the selling process for those in need of quick sales. While the “i” in iBuyer signifies instant offers, it’s essential to weigh the cons. Selling to an iBuyer often results in lower sale prices due to associated costs and fees, potentially causing sellers to miss out on substantial profits. Opting to work with a reputable agent or professional home buyer like Faithful Home Buyers KC LLC can ensure a more lucrative and efficient selling experience. Discover how our swift, transparent, and equitable offers can save you time and money!
How Are Their Offers Determined?
When dealing with an iBuyer, offers are usually quite generic. While some property characteristics are factored into the offer, it primarily relies on the location and size of your home. Real estate agents and buyers utilize a comparative market analysis (CMA) that examines recently sold properties in your area to establish your home’s current market value. On the other hand, iBuyers employ an automated valuation model (AVM) which is akin to a CMA but uses technology to assess the property instead of manual analysis. This method may overlook important aspects, and sellers often have limited room for negotiation with iBuyers. In many instances, the offer presented by iBuyers is non-negotiable, leaving sellers with a “take it or leave it” scenario.
Whether you should work with an iBuyer in Kansas City depends on your specific circumstances and priorities. If speed and convenience are your top priorities, and you’re willing to accept a potentially lower sale price for these benefits, an iBuyer could be a good option.
Does Their Process Work?
While the process may seem straightforward, it’s essential to remember that quality often comes at a cost. Here’s how it works: Begin by providing the specifics of your property. Next, a computer algorithm will generate an offer based on a set of calculations. However, a computer might overlook certain unique features of your home, resulting in a generic valuation that is typically applied to similar properties in your area. Although this process can be beneficial for some property owners in Kansas City, partnering with a real estate agent or a professional buyer is more likely to yield a higher selling price for your home.
What Are the Fees?
The expenses associated with partnering with an iBuyer can be significant! As per Marketwatch, an iBuyer may impose fees and commissions of up to 11.5%. This amount is nearly double the typical charges levied by an average agent. Additionally, the offer you receive is likely to be lower than what you could secure through the MLS. If you are seeking to sell your property swiftly, at a competitive price, and with no expenses on your end, Faithful Home Buyers KC LLC stands ready to purchase your home outright.
What Sets Faithful Home Buyers KC LLC Apart in Kansas City?
Looking to sell your home in Kansas City? Partner with us at Faithful Home Buyers KC LLC for a stress-free experience. We specialize in direct house purchases at fair prices, ensuring a transparent and seamless process. With quick closings in as little as 7 days, we take care of all the details at your convenience. Say goodbye to hidden charges and costly fees when you choose to work with our team in Kansas City. Before settling for an iBuyer in Kansas City, discover the tailored solutions we have for you!