New Competition from iBuyers

NEW COMPETITOR FOR INVESTORS OUR SERVICE PROVIDERS

Zillow became an iBuyer iin 2018. Rather than marketing for motivated sellers, they just turn on their huge marketing platform and inform sellers of homes, that they can buy their house. Using an automated valuation model or AVM, they make an instant offer based on data. They are evaluating homes based on comparables, not necessarily the house.

Redfin Now has a simple online form asking for basics and then they send in a professional to do an inspection of the home. After crunching numbers on value and cost to repair, they make a full cash offer that can close in 7 days. Then the iBuyer will make repairs and resell the home.

Most articles about the iBuyer come make it seem that this is something totally new, not a service that the real estate investment community has offered for years.

In other reports, Real Estate Investors hungry for inventory have been turning to the iBuyers like Opendoor, Offerpad anad Knock.