iBuyers gatecrash the all-cash offers party

Some home buyers are leaning on so-called iBuying firms to better compete by offering all-cash on the properties they target. iBuyers can help buyers by making cash-backed offers on their behalf or by providing financing to help draw attention to their offer in a bidding war, experts say. The National Association of Realtors reported that

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iBuyers struggle as housing market booms

iBuying companies are seeing less business amid a booming real estate market, with homes selling in record time frames and at ever-growing prices. Many iBuyers paused their business operations in March amid fears the COVID-19 pandemic would stifle the housing market. But that proved to be the wrong assumption, and when iBuyers reopened, they saw

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iBuying transactions fall by half as traditional home sales accelerate

Home sales might be up during the COVID-19 pandemic, but iBuying companies are still suffering from a lack of activity. Indeed, it’s looking likely that the market share of iBuying activity will be around 50% less than what it was in 2019, according to one analyst. iBuyer companies such as Opendoor operate a business model

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iBuyers bounce back as COVID-19 continues

The so-called iBuying industry is facing its biggest challenge yet in the face of the COVID-19 pandemic, and it has responded by purchasing fewer homes than it has done in the last three years, according to research by Redfin. iBuying giants including Opendoor and Zillow Offers largely stopped making instant cash offers on homes when

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More iBuyers resume operations

Just days after Opendoor said it was resuming buying activity in some U.S. markets, several of its competitors have announced they too are making a comeback. The re-emergence of iBuyers comes just weeks after analysts said the model was likely to be one of the first major casualties of the COVID-19 pandemic within the real

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Report: iBuyers shut up shop as coronavirus fight continues

Some of America’s biggest iBuyers – or companies that make instant cash offers on people’s homes – are said to be suspending their services due to the coronavirus outbreak. The companies include Opendoor, the largest iBuyer in the U.S., as well as the iBuying businesses of brokerages such as Redfin and Realogy. Realogy said it

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iBuyers: What Agents Need to Know and How They Can Compete with Them

iBuyers are emerging in cities across the nation. As the trend grows, so does the concern among real estate agents worried that iBuyers will reduce the need for agents. An iBuyer is a company that uses technology to make sellers an offer on their home instantly. Their goal is to purchase a property quickly and

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Research shows iBuyers typically cost sellers 13% to 15% more

Consumers who choose to use an iBuyer to sell their home often end up paying much higher fees than they would have if they’d gone with a traditional real estate agent, according to new research from Collateral Analytics. iBuyers are companies that provide instant cash offers and quick closings on a home, which can be

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Rental giants embrace iBuyers in order to grow inventories

Single-family rental giants, such as Invitation Homes and American Homes 4 Rent, are in search of more homes to buy, and they’re increasingly turning to iBuyers to find inventory. iBuyers, like Opendoor, Offerpad, and Knock, are tech companies that buy homes from sellers with instant cash offers and then put the homes back on the

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