If you’re looking to sell your home and avoid people tromping through your living room at open houses, there’s a new option that’s becoming popular in many parts of the country. Companies called iBuyers, or instant buyers, use computer algorithms to make you an offer, often within a day.
These types of sales are growing very quickly, according to new data out Wednesday. The way it works is that companies such as Redfin, Zillow, Opendoor and Offerpad, will make you an almost instant offer over the Internet. They then send an inspector to take a closer look. Their sales pitch is they’ll move very quickly and buy a house with very little hassle.
“In Raleigh, more than 7% of sales in 2019 were iBuyer sales so it’s becoming quite prevalent there,” says Daryl Fairweather, the chief economist for Redfin, which is releasing a report on the iBuying industry.
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