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Why Selling to a Local Homebuyer Beats iBuyers Every Time

  • 4 min read

Have you ever needed to sell your house without the stress and hassle of selling with a realtor? In today’s market, iBuyers may seem like an appealing option. However, it’s important to understand how iBuyers operate and the potential drawbacks before making a decision.

Magnifying glass over the word iBuyer

An iBuyer, or “instant buyer”, is a real estate company that uses technology to make quick offers on homes. This allows homeowners to sell their properties rapidly and with minimal hassle. Major companies in the iBuyer market include Zillow, Opendoor, and Offerpad.

These companies operate by leveraging algorithms to determine a home’s value based on market data and recent sales. Once an offer is made, iBuyers often charge service fees and may deduct repair costs before providing the final payout to the homeowner. This offers a streamlined but sometimes lower-value selling process compared to traditional methods.

List of iBuyers Opendoor Offerpad Zillow Redfin Perch Zavvie Offer Depot Knock

iBuyers are appealing to many homeowners due to their promise of convenience and speed in the home-selling process.

  • Fast Closings – iBuyers offer the ability to close deals quickly, often within a matter of days. This is particularly attractive to sellers looking to move quickly or avoid the uncertainty of selling through a realtor. 
  • Easy Sale – iBuyers use savvy marketing tactics to emphasize their hassle-free approach. They will advertise that they eliminate the need for showings, open houses, and negotiations.

This combination of fast closings, backed by persuasive marketing, makes iBuyers a tempting option for those seeking a quick and straightforward home sale.

List of iBuyers displayed on a cell phone Opendoor Offerpad and Redfin

While iBuyers offer convenience, they often come with hidden costs that can significantly impact the final payout to homeowners.

  • Low Offers – One major drawback is that iBuyers tend to make lower offers compared to the property’s market value. They are aiming to quickly resell the home for a profit. 
  • Service Fees – Additionally, iBuyers charge substantial service fees, which can range from 5% to 10% of the sale price. This further reduces the amount of cash in a seller’s pocket. 
  • Repair Costs – After conducting inspections, iBuyers frequently deduct repair costs from their initial offer. This can lead to even lower final cash amount to the seller.

These hidden costs can make the seemingly easy and fast transaction less financially advantageous for homeowners.

iBuyer sold sign hanging in front of house that says Owned by Zillow

Opting for a local professional homebuyer offers several advantages over iBuyers.

  • Personalized Services – A reputable homebuyer in your area can provide personalized services tailored to meet your unique needs. Having these options available can ease your stress throughout the process of selling your home.
  • Higher Offers – Local buyers often provide better offers that reflect the true market value of the property. They are deeply familiar with the nuances of the local real estate market.

This more collaborative selling experience is not only more profitable but also less stressful for homeowners.

Kansas City local homebuyer Best Offer KC team members shaking hands with homeowners who sell their house

Are you trying to find a reputable professional homebuyer near you? Start your research by asking friends, family, or real estate professionals who have had positive experience with local buyers. If you live in the Kansas City metro area, reach out to Best Offer KC Homebuyer. We are a family-owned, local homebuyer located in Blue Springs, MO. We have helped over 2,000 families in Kansas City over the last 20 years. Learn how we help local homeowners by reading our reviews. We’d love to help make the process of selling your house smooth and stress-free for you. Please call or text us at 816-844-6224 Send Text or fill out this form to get started.