Even before the pandemic, homebuyers and sellers were experimenting with a new, online model of real estate — instant buying, or “iBuying.” However, do-it-yourself home-buying and selling can be overwhelming because buyers and sellers are inundated with information without knowing what to do with it. Hiring an expert is still preferred, and, in a 2020 study, more than half of buyers said that real estate agents helped them glean more information than they otherwise would have from online portals, saving significant amounts of time, money, and stress.
What is iBuying?
iBuying (or instant buying) is the buying and selling of property via platforms such as Opendoor and Redfin. Platforms like these have become especially prominent during the pandemic for homebuyers and sellers, taking transactions completely online without in-person visits.
For instance, instead of on-site tours of a property, interested parties can take part in virtual, 3D tours of homes, moving everything (including the final closing paperwork) completely online without a single physical step in the actual home. This has been especially prevalent over the past year and a half since the global pandemic has affected every industry, including real estate.
But these online options for buying and selling homes inundate users with more information regarding the property than they can typically digest, and — without much experience — this can be an intimidating and bewildering process without the help of a professional real estate agent.
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How Can Real Estate Agents Help Online Buyers and Sellers?
Before purchasing a home, a potential buyer typically wants to learn as much as they can about the property before sealing the deal. But while having so much accessible information can be a blessing, it can just as well prove to be a curse without the direction of a professionally trained real estate…