Opendoor, Offerpad, Knock, Zillow What’s All The Hype

Hey everybody It’s Brian Bain here with The
Ramsey Group at Keller Williams Realty and I’m here for March’s monthly market update. And boy do we have a fun topic to talk about
today. Have you ever heard the term Opendoor or Knock
or maybe Offerpad and probably Zillow lately. Have you gotten a flyer in the mail asking
you to sell your home to them. Well we like to call them is ibuyers and effectively
what they’re doing is making an offer to buy your home as is coming in and fixing up the
property after you leave and then they’re selling it for a profit. Now that’s a general term. Each company has their own nuances but where
do you think that profit comes from? Well it comes from you. And your earned equity in the property. They like to market it as convenience but
really what they’re doing is they are buying your home at a lower price then you could
sell it for and then making a profit on the back end. And they charge a lot of fees for it. For example, Opendoor if you look at their
website it says that their average cost is 7.4% but if you look at their fine line details
in the bottom it says their average fees are between 6 and 13%. Now why is it different? Well what happens is they get you under contract
they come and inspect the home and if there is more repairs then they expected well they
are either gonna ask you to fix it up so that they can then flip your house and make a profit
bigger or they are gonna ask you to take a hit on your contract price and your already
so far down the line it’s too late to turn back. So your not really getting convenience. What we want to help you with at The Ramsey
Group don’t sign anything until we have had a chance to talk to you. Let us review your contract for you and help
you make the right decision. Maybe it is a fair offer and by all means
take it. But if it’s not, let The Ramsey Group help
you. Our convenience is just as strong as theirs. For example our days on market for most homes
is less than 20. So it’s just as convenient to sell with us. We only charge 6% and that includes photography,
marketing, staging and we are going to net you more money for sure. You’re going to get to keep that equity in
your pocket. So please before you sign anything let us
help you. And you know the old saying something is too
goood to be true, it probably is. It’s possible that that’s the case here too. Let us help you out. We can’t wait to work with you. Call us at The Ramsey Group has a team of
buyer’s standing by we have 4 buyer’s agents on our team looking to buy the next home. They are just waiting for you. So if you want to sell your home, we will
sell it for you quickly and we’ll net you the most money. Look forward to talking to you next month. Bye

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