Brevard County Real Estate: What Is an iBuyer?

Dated: November 16 2021

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Brevard County Real Estate: What Is an iBuyer?

When it comes to selling a home in Brevard County, most people choose to work with an experienced real estate agent to help them optimize their sales price. However, as technology advances, the traditional real estate model is facing disruption from another type of buyer— the "iBuyer." So, what is the difference between an iBuyer and a real estate agent? In this article, we're discussing the differences and how sellers in Brevard County can get the most out of their home sales. 

What Is an iBuyer?

iBuyers are typically venture-backed companies that buy and sell real estate in cash in very little time. This is because they use technology to estimate the value of your home, making it possible to present a cash offer around 24-48 hours and close in as little as two weeks. Of course, while this may sound like a dream buyer if you need to sell fast, there are other things to consider. 

iBuyers are in the business of buying and selling real estate, which means that profit is essential. Many iBuyers offer just below market value for your home to turn a profit when they sell. Before working with an iBuyer, be sure to understand what other fees you should expect in this process. For example, iBuyers often charge a myriad of service fees to homeowners. These vary wildly depending on the company but typically range anywhere from 5-15% of the agreed sales price. In addition, if you have a unique property or one with lots of high-end upgrades, an iBuyer may not accurately value your home based on their algorithm alone. In this instance, working with a knowledgeable real estate agent may be more beneficial.

Benefits of an iBuyer

Present offers in as little as 24 hours 

Can close quickly 

Often purchases As-Is 

Disadvantages of an iBuyer

Typically offer less than market value 

The transaction is often handled remotely

Not available in all markets 

Transaction fees range from 5%-15%

How Does A Real Estate Agent Differ From An iBuyer?

A real estate agent is a professional who facilitates the sale of your home to a buyer—rather than buying the house themselves. Real estate agents have a fiduciary responsibility to their sellers to secure them the highest price possible for their homes and to represent their best interests throughout. They handle everything from marketing and showing the property to negotiating with buyer's agents and helping you navigate the sales process to closing.  

Many sellers choose to work with real estate agents because they have experience in the local market, so they understand what appeals to buyers. Ultimately, selling and buying real estate is a social business built upon knowledge, integrity, and maintaining open lines of communication with all parties. 

Should You Sell Your Brevard County Home to an iBuyer?

If you're looking for a fast home sale, and don't mind receiving less money for your home than you would on the open market, then selling to an iBuyer might be a good option for you. Keep in mind that Brevard County is currently experiencing an unprecedented seller's market; homes are currently spending 52 days on the market, from listing to closing.  

However, if you want to sell your home for the best price possible, it's essential to explore all opportunities and weigh up your options. Typically, in a seller's market, homes that are listed on the open market attract more buyers and are likely to sell for a higher price. Be sure to take into account all associated service fees when considering offers to determine your bottom line.  

If you're thinking about selling your home in Brevard County, reach out to us now for a free, no-obligation, Comparative Analysis Report (CMA). 

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