Are you thinking about selling to an iBuyer in Long Island? Learn why the process can be risky and what alternatives you have instead in our latest post!
The rise of iBuyers is having a dramatic effect on the real estate market. While the convenience can be appealing, there are ways to sell that are just as easy, without costing you a fortune in costs or fees. Keep reading to learn more about iBuyers and the risks they pose to home sellers in Long Island!
Less Personal
When you work with an iBuyer to sell your house in Long Island, the process won’t be nearly as personal as working with a local agent or a local home buyer such as CoMax Properties. An iBuyer isn’t going to take the time to get to know you and your personal situation. iBuyers will typically throw out an offer and move onto the next house. In many cases, you are just a number to them!
Low Offers
An iBuyer is not going to take the time to learn about all of the property’s benefits. Instead, they use automated software to determine the value of your home. While computers can do this pretty well, they will often miss out on things that affect your home value. iBuyers will often make blanket offers to homeowners in a specific region. While the price might work for some people, it may not work for you. It can be much more beneficial to work with someone with their feet on the ground as opposed to relying on what a computer has to say about your property. Don’t commit to an iBuyer for your house in Long Island until you explore all of your selling options. Run the numbers by getting a no-obligation offer from our team today! We will make you an offer, plus we can help you understand what to expect if you should go with an agent. Our goal is to provide you with the information you need to you can make the best decision about how to sell your house in Long Island!
Not Local
From knowing the neighborhood to understanding what is possible with the property, iBuyers just aren’t going to get it. iBuyers typically buy houses nationwide, making it nearly impossible for them to understand every nuance of your local real estate market. As local home buyers, we understand the local market better than anyone. We will always pay you a fair price, closing on the day that is best for you. When you work with an iBuyer, you will be on their schedule, possibly even asked to clean up before you go. As CoMax Properties, we make things as simple as possible for you, even handling all of the clean-up.
Less Wiggle Room
When you work with a professional buyer of a Long Island real estate agent, you will have some wiggle room when it comes to the negotiations. You will usually be able to strike a deal when working with somebody more local. With iBuyers, they make you an offer and that’s it. There is no going back to the drawing board. If you want to negotiate, the iBuyer is likely just going to move onto the next property seller. At CoMax Properties, we want to work with you to find the price that makes the most sense. We aren’t trying to buy your house at the lowest price possible, rather we want to work with Long Island homeowners one on one to find the offer price that makes the most sense! We want to help you reach all of your selling goals!
High Fees
Working with an agent will typically cost you around 6% in commissions. Working with an iBuyer can cost anywhere from 7.5-11.5% of the sale price! So let’s say you sell to an iBuyer for $200k. You could lose out on $23,000 in fees and costs! That is a fortune! Plus your offer will likely be much lower than what you would receive on the open market. If you want to avoid ALL agent fees and commissions, selling to a private, professional buyer is the way to go! Working with CoMax Properties will ensure you receive a fair price without any of the red-tape or fees.
What To Do Instead
Selling to an iBuyer can be risky. Many people see it as a fast solution for an old or run-down property, which it can be, but it comes with a cost. While the process may be fast, you will likely receive much less when all is said and done. Working with a professional and local homebuyer will likely put more cash in your pocket while saving you time. We understand the local real estate market and what is possible with houses in this area. We will always pay you a fair price, customized to your personal property!
Hi! I am Joe Cordes and I am the owner of CoMax Properties, a local Long Island Home Buying company. If you need to sell an unwanted house in Long Island call me at 516-704-7025 or fill out the form below to get a no obligation CASH Offer.