While reading some additional ibuyer articles in active rain I ran across a google ad for Opendoor that read Sell Your Home to Opendoor - A Free Cash Offer in 24 Hours, and this made me think what do consumers/homeowners think when they see these iBuyer websites and ads.
Through the last few years and many conversations, homeowners believe they are getting a final offer when they start the iBuyer process no matter who the company is (Offerpad, Opendoor, Zillow, etc). They think they are avoiding the commission and hitting easy street realty. The fact is the iBuyers are like staying at the Ritz Carlton and most sellers in the iBuyer buy boxes do not stay at the Ritz. They stay more so at the Holliday Inn. The Ritz is super expensive and a crazy amazing experience where the Holliday Inn is clean, comfortable, and gets the job one on a reasonable budget like a traditional MLS agent.
Then through the process, they discover their fees that are equal or higher to many commission structures and that their offer has concessions that sharply reduce their net proceeds. Real Estate Agents know the comparable sales in public records do not show convenience fees nor concessions.
With a lot of conversations with agents, I found many have taken a position of anti iBuyers because of what they do as mentioned above. Then I found a group that just ignores the iBuyer experience.
We have chosen to become super educated in the home selling process with the iBuyer industry, with the wholesaler industry, and to position ourselves as the local experts in communities to help consult our sphere, past clients, and future clients. We felt to think of the iBuyers as our enemy or to ignore the large elephant in the room is like thinking the same thing with new builders. It is just another transaction opportunity for our homeowners to use and they honestly do not have time nor unit transactions to be the experts in the business like we do. Hence, we have positioned ourselves to have value-adding conversations with our future sellers.
It took us about 18 months to have a smile on our face by properly branding ourselves and building deep experience in this niche. Since then we have built an amazing platform for real estate agents to use. Simply go to iBuyerSites.com to claim your city that you work in. It does not limit you to just that city. It builds you a website branded to you and iBuyers.
You then no different than you buyer websites have to get it out there via paid advertising. We use it in some of there areas
- Fliers at Open House
- Door knocking for our open houses
- Circle prospecting for our open houses
- Calling expired, canceled, and FSBOS
- Paid Facebook ads
- Google PPC ads
- Postcards to homes that make sense from companies like SmartZip after we find popular subdivisions the iBuyers are buying in
- Magazine ads
- eMail signatures
- Conversations with our SOI and past clients
When submitting offers to these iBuyers you need to think like their inspectors and take photos of odd things like a water heater, ac units, inside the dishwasher, etc. Otherwise, you will get high offers that come crashing down.
We list the home then go get these offers from iBuyers, Cash buyers, and net them all out to our go-to MLS offer and then consult the homeowners of all of their options and help them make the best decision for their household. This is about them and we are here to provide them the best possible consultation and guidance.
The best success of the website is when you add your local cash buyers and keep adding them to the backend of the website and when you add all of your go to vendors. The more offers you can get will help you find the highest cash offer, and if they are going to MLS giving them the vendors you use will help them clean their houses up to get the best offer.