The real estate market is constantly changing, and with the advent of technology, new players have entered the field. One of these players is the iBuyer or “Instant Buyers.” iBuyers are companies that use technology to make instant offers on homes and close quickly. These companies rely on algorithms and software to make purchases. They are known for their convenience, speed, and ability to offer cash for a home, but how do they differ from traditional real estate investors? In this blog, we’ll discuss seven ways an iBuyer is different from a Hattiesburg real estate investor.
1. Purpose
The primary purpose of an iBuyer is to buy and sell houses quickly. They use technology to provide instant offers and close quickly. On the other hand, traditional real estate investors, like MS Home Buyers, are focused on building relationships and helping people in difficult situations. We genuinely care about providing solutions for homeowners who need to sell their homes quickly due to financial, emotional, or other reasons. Peoples needs may be much broader than just selling the home quickly. Relationships with the sell is important to us. Also, we build relationships with many different companies and people within the real estate community. We offer a network or relationships to find creative solutions to your needs. Our goal is not just to make a quick profit, but to help people move on to the next chapter of their lives.
2. Financial Backing
iBuyers are often backed by large corporations and have access to significant financial resources. This allows them to make quick cash offers and close on a property in a matter of days. Traditional real estate investors, on the other hand, may not have the same financial resources, but they have the expertise to provide creative solutions to help homeowners sell their homes quickly. Creative financing is one of the areas that can provide benefit to the buyer and the seller.
3. Speed of Transactions
iBuyers are known for their speed. They use technology to provide instant offers and can close on a property in a matter of days. Traditional real estate investors may take longer to close on a property, but they can provide creative solutions to help homeowners sell their homes quickly. Selling directly to a cash buyer will be much quicker than working with a traditional real estate agent; however, it won’t be instant. The trade off for not being instant is the creative ways that companies like MS Home Buyers can bring work to meet the needs of your unique situation.
4. Offers
iBuyers offer cash for a home, which is appealing to homeowners who need to sell quickly. However, the offer is often lower than what a traditional real estate investor, like MS Home Buyers, would offer. MS Home Buyers takes the time to understand the homeowner’s situation and provides a fair offer that takes into account the current market conditions and the homeowner’s needs. There may be situations where the seller needs an instant offer but it won’t usually be the best offer.
5. Fees and Commissions
iBuyers charge fees and commissions that are often higher than what a traditional real estate investor would charge. This is because iBuyers offer convenience and speed, and homeowners are willing to pay for those services. Fees, commissions, and closing cost can will significantly effect what you can make when selling to an iBuyer. Traditional real estate investors, like MS Home Buyers, charge fair fees and commissions and are transparent about their costs.
6. Personal Touch
iBuyers rely on technology to provide instant offers and close on a property quickly. This means that there is little personal touch involved in the transaction. Traditional real estate investors, like MS Home Buyers, take the time to build relationships with homeowners and provide personalized solutions to help them sell their homes quickly.
7. Local Knowledge
iBuyers may not have the same local knowledge as a traditional real estate investor, like MS Home Buyers. MS Home Buyers is a local company that has been buying and selling homes in Hattiesburg for years. We understand the local market and can provide insights and expertise to help homeowners sell their homes quickly and for a fair price. Again, local knowledge is important but local relationships with individuals, investors, lenders, and many others make the difference. Creative solutions can be found when this network of relationships are utilized to work toward your needs.
iBuyers and traditional real estate investors differ in their purpose, financial backing, speed of transactions, offers, fees and commissions, personal touch, and local knowledge. While iBuyers offer convenience and speed, traditional real estate investors, like MS Home Buyers, offer personalized solutions and genuinely care about helping people in difficult situations. If you’re a homeowner in Hattiesburg and need to sell your home quickly, consider working with MS Home Buyers to get a fair offer and personalized service. If you need to sell your house in Hattiesburg, find out how MS Home Buyers can help. (601) 336-1835