https://en.wikipedia.org/wiki/Instant_Buyer
The iBuyer process
iBuyer companies use computer-generated analysis of market data, information supplied by sellers, and in some cases input from local real estate agents, to make instant cash offers on residential properties.[9][10] Individuals wishing to sell their house are asked to enter basic information about the property on a company’s website. In a process largely driven by machine learning and automated data analysis, the property’s approximate value is determined and an initial offer is made.[1][3][4] If the offer is accepted by the seller, the company arranges an inspection of the property to ensure that the data supplied is concomitant with the actual condition of the building. From a seller’s perspective, the process of selling his or her property can take under two weeks.[2][7]
Once an iBuyer company has purchased a property, it arranges for any necessary repairs or modifications to be carried out in the building. The property is then re-sold.[4][10]
Businesses operating under the iBuyer transaction model make their profit on the fees incurred on the seller, which are typically marginally higher (1-4%) than those charged by traditional real estate companies.[1][11] From an Instant buyer company’s perspective, the higher fees cover the investment risk involved in holding the property for a potentially long period of time.[12] For a seller, the fees are paid in exchange for a much faster property-selling process than with a traditional real estate model and for avoiding the need to make repairs and improvements to the property prior to selling.[1][11]
You Enter Your Home Address Home Value by Address To provide you with a free home value estimate, we begin by pulling market value data in your area and accessing neighborhood statistics. Pull Real-Time Industry Data Proprietary algorithms, real estate insights, and access to big data from local and national iBuyers enables us to present you with the most accurate home value estimate in seconds. Get Your Home Value Estimate Home Value Assessment Find out what your home is worth based on fair market value assessments and see what iBuyers would be willing to pay for your house, if you choose to request a cash offer.
