Wait, What’s an iBuyer?

Selling your house to a iBuyer who says they’ll buy your home today is tempting. With the evolution of technology and the growing demand for instant gratification, it’s easy to see why iBuyers like Opendoor or Offerpad are active in some markets.

Wait.

What’s an iBuyer?

Lovingly nicknamed iBuyers (likely because of their use of technology), these are real estate companies that offer cash prices for homes instantly. When you break it down to bare bones, they’re a house flipper. They usually buy homes for cash at lower than market values, fix them up and then resell them for a profit.

These buyers charge a service fee (typically around 6-14% of the home purchase price*) in place of the traditional Buyer’s Agent Commission (BAC) or seller concessions.

Opendoor and Offerpad are iBuyers that make cash offers to homeowners to buy their home.

Is Homie an iBuyer?

No, and we’re not a traditional real estate brokerage either. Homie utilizes the best of both the iBuyer world and traditional brokerage worlds. When it comes to selling your home, Homie allows you to take advantage of tech while not spending an arm and a leg to get there.

The Difference

table with comparisons of traditional agents, ibuyers and homie

What Homie Offers

Full-Service

From listing to close, Homie offers full-service real estate transaction services. We don’t want to buy your home off of you or stick you with a DIY home sale. We want to empower, inform, and celebrate with you as we help you sell your home. From list to close, we’re there every step of the way!

We’re on Your Team

Each Homie seller gets a dedicated listing agent who is on a mission to sell their home for top dollar as quickly as possible. Each listing starts with a Comparative Market Analysis to help with pricing the home. Once your listing is live, we’ll market your home on social media and make sure it hits the Multiple Listing Service (MLS) and all the top home selling sites.

Tech for Days

iBuyers aren’t the only ones utilizing tech. We have an easy-to-use app and website where you can list your home, review offers, sign documents, and communicate with your agent all from your smartphone.

Stacks of Savings

We charge a fixed fee to list your home. That’s it. That fixed fee gets you a dedicated, local real estate agent who will help you list, market, and close on your home sale. You’ll save thousands when compared to working with a traditional agent (on average Homie sellers save about $10k*), and we are selling homes faster than the market average.

Easy Peasy

Selling a home isn’t rocket science, and it shouldn’t be treated like it is. Our agents make selling your home simple and satisfying. Don’t believe us? We’ve got the reviews to prove it.

What iBuyers Offer

Cash Offers

This is clearly the biggest draw that iBuyers offer. It’s important to keep in mind that even though you’re getting a cash offer, it’s likely going to be quite a bit lower than what you would’ve listed for or even what your home is worth.

Technology

iBuyers have made the process convenient through technology. You can get on their website to get an offer for your home. The transaction will take place entirely online.

Speed

Because you don’t have to market your home or allow tours, the sale of your home to an iBuyer is quicker than to a private buyer. Just remember, it might mean that you get a cheaper amount for your home than you would have by selling to a person instead of a company. The fact is if you price your home right and have just a little patience (just over a month on average with Homie*) you could get way more for your home.

Now You Know the Difference

We see how it can be easy to lump us with iBuyers, but the differences are clear. If you want to get the most out of your home, all while having experts to guide you along the way, start listing your home now.

*29 days on market average for Homie, 51 days on market industry average in Arizona. Based on information from the Arizona Regional Multiple Listing Service for the period April 1st-April 30th 2020.

Homie LLC (an Arizona Limited Liability Company), Homie LLC (a Nevada Limited Liability Company NV License #: B.144145), and Homie We’ve Got Your Back LLC (a Utah Limited Liability Company) have a business relationship in that all are owned by the same persons.

*Data taken directly from iBuyer websites.

*Calculated based on the difference of Homie LLCs (an Arizona LLC) and Homie We’ve Got Your Back LLC (a Utah LLC) flat fee versus 3% of sold price and the average buyer agent commission paid versus 3% of the sold price. Arizona transactions from January 2018 through February 2020, Utah transactions from January 2016 – June 2020. Homie LLC (Arizona), Homie We’ve Got Your Back (LLC) and Homie LLC (Nevada) are separate but affiliated entities. Results may vary.

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