By: P. Dennis Connelly at CRS Long & Foster Real Estate
Special Item of Value: iBuyers
If you’re thinking about selling, you might be considering an iBuyer—companies that provide nearly instant purchase offers on homes. iBuyers bring the certainty of a specific sale date and relieve you of making home improvements or opening your house to buyers. But when it comes to selling your home—often the largest investment most people ever make, is the convenience worth the cost?
As with most financial decisions, it’s best to evaluate your options before selecting the path forward. That’s why I wanted to share with you a few things to remember when selling your home—no matter if it’s to an iBuyer or via the traditional sales process.
Know your home’s worth. iBuyers present an offer on your home based on an algorithm, but that might not consider more-difficult-to-measure features, such as the amount of natural sunlight or your views. Working with a professional like me, we can evaluate your property against current homes for sale, noting your house’s specific amenities, to get a more accurate market value. Once you understand your home’s true worth, you can fairly assess the iBuyer offer.
Consider your upfront costs. Recent research by Collateral Analytics compared the fees associated with iBuyers and traditional real estate sales. They found the total cost of working with an iBuyer comes to 13-15% of the sales price, compared to 5-7% for a traditional sale.
Determine your goals. Do you need a quick transaction? Want a specific closing date? Or simply to maximize your profits? Once you establish your goals, I can help you achieve them. Depending on market conditions, a speedy sale could be secured on the open market or an iBuyer might be the better route. With my insights and support, we’ll put you on the path to success.
If you’re ready to sell your home, let me know. I’m here to help you fully assess all your options and share with you my real estate expertise and local market knowledge.
Dennis Connelly GRI, CRS