iBuyers: What home sellers need to know about OpenDoor, Zillow Offers, & Redfin Now
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iBuyers: What home sellers need to know about OpenDoor, Zillow Offers, & Redfin Now


(upbeat music) – Hey, I’m Devin Ratoosh
and I’m a real estate agent in the East Bay, and for today’s video, I’m gonna talk about iBuyers, and iBuyers, it’s a new way of selling your home
that is just comin’ out and takin’ the real estate world by storm. Essentially what it is is
companies Zillow, Open Door, I think Keller Williams has started to try to dip into this market as well, and there’s a few others. They are providing a convenient option for sellers of properties
in that you don’t need to find a buyer for your home because they will buy
it directly from you. And I’ve seen it advertised
in a lot of different ways, some will charge a
convenience fee for doing it, somewhere between six
and 10% and they say, “Oh, you’re getting the market value, “you’re just paying the
convenience fee instead, “which an agent would charge you anyway.” I’m skeptical about that just in general, but I can get into that in another video. So, essentially, these
iBuyer’s are charging you for the convenience of
quickly selling your home and you won’t have to wait to find a buyer and you can move immediately,
but chances are with these, the convenience comes with a price. They need to make money doing this, and it’s been a really
good market recently, but when it’s a not so good market, there’s also the risk that a
property price will go down, and so they’re definitely
building in a margin to kinda secure themselves in
providing you the liquidity, and so just make sure that if you are considering this option
that you also speak to a local realtor who’s
familiar with your market, who can give you what they think would be the value of your home. Don’t just take their word for it, I mean you need to do your due diligence because this is just the same thing that you’ve seen for many years, there are investors who wanna
buy properties for cheap and fix them up and sell them for a profit and that’s essentially what an iBuyer is, it’s just iBuyer’s are on
a corporate level and yeah, there’s something that
rubs me the wrong way about corporations buying your home. I don’t think you’re doin’
the best for yourself when you put yourself in that situation. So if you have any questions,
always feel free to reach out. You can give me a call,
you can send me a text, or send me an email, I’m
always happy to help. (upbeat music)

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