Updated over 5 years ago on . Most recent reply
Can Wholesalers work with iBuyers?
Have any of you wholesalers reached out or figured a way we can work with Zillow Offers or OpenDoor?
Most Popular Reply
@Greg Scott So if you noticed, OpenDoor, Zillow, and OfferPad all shut down temporarily during the COVID market dip. That's because a model where a company owning real estate they have no business owning isn't sustainable in a recession (just like banks aren't in the biz of owning the homes of their clients).
It differs from just being an agent connected to a few investors. As an express offers certified agent, when I log in to express offers, there are tens of "buy boxes" for my state. So I can actively look for on and off MLS properties that meet those buy box criteria for those investor companies and submit them. I can also advertise to potential sellers that I can represent them on the open market AND for cash offers.
If the property IS sold to a flipping investor, the agent gets to re-represent the property on the sale of the renovated property as well.
Those other platforms are sellers working directly with companies. Oddly, sellers end up paying so many fees at closing that they may as well have hired an agent. With Express Offers, they pay half commission and can close in 7 days. So the value for sellers is no holding period of expenses and half the agent fees.
Additionally, investor companies that join the program can have access to an extra deal stream of properties.
Lots of cool stuf!
- Charlie Cameron
