To iBuy or Not to iBuy? And Work with Corken + Company Instead

As an extension of our blog post last week, we wanted to dive more into iBuying: what it is and why it might be a questionable route to take when selling your home. We briefly shared our thoughts on iBuying services such as OpenDoor, Zillow Instant Offers, Offerpad, and RedfinNow, but it is worth revisiting. Especially in the wake of COVID, the convenience and simplicity of these options may seem more attractive than ever. But, we want to discuss the pitfalls of this streamlined process and urge you to work with a licensed, experienced broker, who has their seller’s best interest at heart.

Using an iBuying service is advertised as a quick and convenient way to sell your home on your own timeline. Without cleaning, staging, or marketing your home, these companies will give you a guaranteed all-cash offer on your home with flexible closing parameters. No showings, no hassle, no commissions, no closing costs. And all for one low price.

Or, so it may seem. Here are some very important reasons why working with a realtor is the right decision and why working with Corken + Company is an even better decision.

Our experience in conjunction with the various resources at our disposal ensure we are able to strategically price and market your home. This extra effort, research, and know-how directly translates to a higher sale price. While iBuying services make you a single offer on your home that is essentially “take it or leave it”, professionally preparing your home for sale and putting it on the open market at a strategic price should instead result in multiple and competing offers. This is especially true in a highly competitive and mobile market like Denver. iBuyers are in fact less prevalent in upwardly mobile markets for this reason. They are looking to mass produce home sales and minimize risk. At Corken + Company, we know your home sale is unlike any other and will treat it as such. Let’s get you the most value for your most valuable asset.

iBuying companies boast unparalleled convenience; apparently none of the hassle of selling your home with all of the benefits. At Corken + Company, our concierge style approach results in the same hassle-free experience but with an individualized approach. We will prep your home for sale as well as handle all marketing. Once under contract, we will guide you through all negotiations and closing procedures. And we will do it all while treating you like the human being you are. Selling a home is not a one size fits all matter. By nature, it is a complicated transaction, but also a highly rewarding one when conducted with the right parner by your side. Let us bear the burdens while you reap the benefits (some of which you may be sacrificing when settling for an iBuyer’s offer).

One of the advantages iBuying services claim, is a low-cost alternative to paying commissions and closing costs. But, not only will an iBuyer’s offer likely be lower than a regular offer, the services they provide are also not free. Between the service fees and potential cost of repairs required to secure their offer, you will likely pay the same if not more to close with an iBuying service.

Given the current social climate of COVID, one of the particularly relevant draws of iBuying is it’s virtual and low-contact structure. At Corken + Company, we have also gone virtual. With virtual showings available, you decide when and how potential buyers see your home. We offer real estate solutions without limits and even when those limits are tested, we improvise.

iBuying services are looking to profit from their home purchase. Their goal, like your own when buying and selling your home, is to purchase a home for the lowest price and then turnaround and sell that home for the highest price. A realtor, however is a third party with only your best interest at heart. Your sucess directly dictates our sucess. Corken + Company is your advocate and we are in your corner along with all of our resources and expertise.

While iBuying is a growing trend, stay informed and diligent. Selling your most valuable asset is not to be taken lightly. There are many benefits to at least consulting a professional and seeing exactly what it is they have to offer. Corken + Company would love to discuss your goals and continue this conversation.

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