Are iBuyers For Real?

You’ve probably seen ads or heard about companies like Offerpad, Knock and Opendoor who advertise a more convenient way to sell your home through instant offers and streamlined selling. They have become known as “iBuyers” and are for-profit investors who use automated valuation models based on tax records and neighborhood sales data to make expedited offers on homes and resell them.

Recently, a Keller Williams colleague in Atlanta put Offerpad, Knock and Opendoor to the test by comparing their offers for the same properties with traditional methods of home valuation. He received markedly different results! You can quickly eyeball the findings below but I encourage you to read the details here. Very interesting!

Industry experts think there may be a market for this service, but mostly for 1. financially distressed sellers or 2. owners who are willing to sacrifice equity to get cash quickly or need to move out without delay.

Let me know if you have any questions about this real estate trend!