Ready to be an iBuyer?
This is some of your iBuyer competition and their status in the market:
Reportedly selling 25 houses per day. Raising another $200 million at a $2 billion valuation. Operating in Phoenix, Dallas-Ft. Worth, Las Vegas, Atlanta, Orlando, and Raleigh-Durham — and to expand into new markets.
Real estate platform Zillow changed up its business model, announcing that it plans to purchase and sell homes in Las Vegas and Phoenix. Zillow says it is working with their “premier agents” to handle the listings.
OfferPad has raised $30 million in equity and $230 million in debt. Currently in Phoenix, Las Vegas, Los Angeles, Tampa, Orlando, Atlanta, Charlotte and Salt Lake City. Expanding into Nashville and Houston.
Knock raised $32.5 million in private equity. They have a “trade-in model” with a presence in Atlanta, Charlotte, Raleigh, Los Angeles, San Diego, Phoenix, Chicago, Miami, Orlando, Tampa and Denver.
Although investing in real estate is an old profession, there is a new twist that is changing the game for everyone. We all know that finding inventory to flip, hold or even reside in is hard these days. It will get even harder as iBuyers continue to expand their presences. If they’re not yet in your area, they may be soon. Zillow’s recent move reflects a trend that will make investing in residential real estate even more difficult. Zillow’s move into house flipping alone may mean the end of the line for many independent investors. How can you compete with an iBuyer like Zillow?? Then you have Opendoor, Offerpad and Knock who are expanding into new areas. The lines in the sand have been drawn and the game is on. Now you can fight back and become an iBuyer yourself. offerAI empowers any investor/buyer with the ability to create a unique URL for offerAI’s iBuyer site. As homeowners accept offers from the offerAI bot, you can be the one who gets the deals from your URL! The next question is: How do you and I promote your page? After all, if we’re going to compete with the big boys, we better get a jump on the sellers before they do. That’s why we offer campaign packages that put your page in front of your target market in your farm area. As you can image, the agents who create iBuyer pages to generate listing leads, will also have the occasional seller come through their page that accepts the offer. In those cases, someone will be able to take over the contract from offerAI. If you are the buyer who has a lock on that zip code, you’ll get the deal. Click here to find out more about getting the first look at deal(s) as they arise. Being an investor in real estate is a wise and honorable profession that provides a service to the community. You are increasing the value of the house you flip and all the houses around it.
All the best,
Jack Burns, Founder & CEO, offerAI, Inc.