iBuyers Guide Aaron Stelle - WEST
•Download as PPTX, PDF•
0 likes•12 views
This presentation on the affect of iBuyers on the real estate market and how Realtors can sell agains them. It is produced by Aaron Stelle, VP - Regional Marketing Technology Director with WEST, a Williston Financial Group Company.
Recommended
Recommended
More Related Content
Similar to iBuyers Guide Aaron Stelle - WEST
Similar to iBuyers Guide Aaron Stelle - WEST (20)
More from Aaron Stelle
More from Aaron Stelle (20)
Recently uploaded
Recently uploaded (20)
iBuyers Guide Aaron Stelle - WEST
- 1. A Realtor’s Guide to iBuyers Aaron Stelle, VP, Marketing Technology Director C 503 707 9244 astelle@poweredbywest.com | poweredbywest.com Aaron’s 2 Cents – Real Estate Marketing Mastermind
- 2. What is an iBuyer? west An iBuyer is a company that will make you an offer on your home within minutes (or days), sight unseen, based on a proprietary valuation model.
- 3. New Spin on Old Strategy west
- 5. Open Door Introduction west Launch Date: 2014 Markets Served: 20 markets including Atlanta, Austin, Charlotte, Dallas-Fort Worth, Denver, Houston, Jacksonville, Las Vegas, Los Angeles, Minneapolis-St. Paul, Nashville, Orlando, Phoenix, Portland, Raleigh-Durham, Riverside, Sacramento, San Antonio, Tampa, and Tucson
- 6. west Open Door Fees and Timeline Fees: Vary, but average 7.3% Closing time: 10-60 Days Repair Costs: Additional post inspection
- 7. west Offerpad Offerpad west Launch Date: 2015 Markets Served: 12 markets across the US, including Austin, Dallas/Fort Worth, Phoenix, Tucson, Orlando, Tampa, Atlanta, Las Vegas, Charlotte, Raleigh, Houston, and San Antonio.
- 8. west Offerpad Fees: 7.5% Closing time: Seller Picks Repair Costs: Additional post inspection
- 9. Zillow Instant Offers west Launch Date: 2018 Markets Served: 13 markets including Atlanta, Charlotte, Dallas, Houston, Las Vegas, Phoenix, Raleigh, Riverside, Miami, Minneapolis-St. Paul, Nashville, Orlando, and Portland.
- 10. west Zillow Instant Offers Fees and Timeline Fees: Unclear, but 7%+ Closing time: 7-90 Days Repair Costs: Additional post inspection
- 11. Redfin Now west Launch Date: 2017 Markets Served: 4 Markets, Inland Empire, San Diego, Orange County, and Dallas
- 12. Redfin Now west Fees: 7% Closing time: 7-60 Days Repair Costs: Additional post inspection
- 13. Knock west Launch Date: 2015 Markets Served: 7 markets including Atlanta, Charlotte, Raleigh, Durham, Dallas, Fort Worth, and Phoenix.
- 14. Knock Fees and Timeline west Fees: Built into Offer Price Closing time: Variable Difference: Knock setup as a ‘Trade in value’ for your home.
- 15. Ideal Buyers west • People Who Need to Close Quickly • Distressed Properties • Trusts or Out of State Owners • Estates
- 16. Pros west • Quick or Flexible Close • Limited or No Repair Costs • No Showings • No Staging
- 17. Cons west • Less Money • No Market Exposure • Limited or No Negotiations • Fees, Fees, Fees
- 18. west How to Sell Against iBuyers
- 19. Net to Sellers west iBuyers offers would net their customers, on average, 11% less than owners who choose to sell their homes on the open market – Market Watch
- 21. west Unique Homes Don’t Qualify iBuyers Won’t Buy • Expensive Homes <$500K • Old Homes <1960 • Acreage <.5 Acre • Homes in Poor Condition
- 22. Solid Market Conditions west In the current Portland Market, we are still seeing competing offers that are driving up prices. With an iBuyer, there is a single offer and then it is subtracted from with fees and repair costs.
- 23. Negotiations west • Fees • Timelines • Repairs • Price
- 24. west Total Market Share According to an iBuyer panel at Inman Connect Las Vegas as of July 2019 iBuyer transactions account for .04% of total transactions this year.
- 25. Become an iBuyer west • Team up with an investment group • Give 2 prices on each listing presentation
- 26. west In Summary
- 27. west There is a lot of Money in iBuyers Money Raised Offerpad: $1B in 3 Years OpenDoor: $500M in 2019 Perch: $220M in 2019 Redfin Now: $210M KW: $100M
- 28. west iBuyers Only Appeal to a Small Segment of the Population Most consumers want a standard process that they can follow and a trusted advisor to walk them down the path. Realtors are those trusted advisors.
- 30. Aaron Stelle Marketing Technology Director 503.707.9244 astelle@PoweredbyWest.com Aaron's 2 Cents Real Estate Marketing Mastermind
Editor's Notes
- Perch, Keller Williams
- Free
- Consumer ratings seem to average out around 4 stars, with sites like Yelp giving them a lower 3-star rating while reviews.io comes in with a much higher 4.5 star rating. Overall most customers seem to be happy but not overcome with excitement about their business with the company.
- ZESTIMATE ON HOME $508K
- $25 / user / month
- Also mention changing the locks on your car so just the drivers side opens
- Also mention changing the locks on your car so just the drivers side opens
- Also mention changing the locks on your car so just the drivers side opens
- Also mention changing the locks on your car so just the drivers side opens
- Also mention changing the locks on your car so just the drivers side opens