What happened to iBuyers and how it affects your real estate plans.
What’s happening to iBuyers as our market slows? Interest rates are rising, and the market is calming down a bit. iBuyers were everywhere when the market was hot, so what are they doing now?
In case you didn’t know, iBuyers are cash buyers who usually provide instant offers, hedge funds, or similar investors. Some iBuyers have completely backed out of the market. Others are still in the game, but they’re offering less than they were a few months ago.
“No matter which side of the market you’re on, it’s critical you work with a skilled agent.”
This means buyers have more inventory at a lower price, and they don’t have to deal with as much competition for those homes, which is fantastic news. For sellers, this shift means they should not just take those instant offers. A year ago, these companies were making incredibly competitive offers, but today that’s not always the case.
You should work with an agent who knows how to work with traditional buyers and investors. Look for someone who can show you both retail offers and low-risk iBuyer ones. If you’re buying, you need to work with a person who can help you see homes quickly and ensure your offer stands out. No matter which side of the market you’re on, it’s critical you work with a skilled agent.
If you need any help with your buying or selling plans, call me at (770) 634-9710. I promise you’ll be glad you did.