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iBuying has stopped, which means the iSeller may be stuck

You have heard of the Guaranteed Offer, the iOffer, from so many companies like Zillow, Opendoor and Redfin and many of the other different internet offers that so many sellers were counting on, came to an abrupt end last week when many of the iBuyers stopped buying.  Some of the iSellers were listing at 1%-1.5% and ceased selling in some cases due to the current national event.

It is unfortunate that potentially millions of sellers are abandoned with unresolved problems that are still in need of resolution.  When we mean problem, we mean a couple of things:

  • You have a new job and start in three days, your iBuyer contract is on hold.
  • You had the home up for sale through one of the programs as part of your estate, and now both your estate and the buyers are on hold.
  • Your home sale was part of an overall divorce settlement, and now it extended that for a longer period.

What YOU need to know is that in-person real estate brokers have been using electronic signatures for nearly two months in order to facilitate the sales.   This includes Sale Contracts, Disclosures, Buyer Contracts, Notary Requirements, and attorneys all have been using electronic signatures.   And when the mortgage companies complete their processing, they too deliver electronically everything that you need to move into your new house.

A recently published factoid from Wake County Register of Deeds says There was $2.19 billion worth of transactions in the core market. The core market comprises transactions valued at one million or less.

There is value in having a REALTOR who is working for you in that their job is to represent you and to stay on top of things to ensure a successful transaction.   That is something that the internet transactions do not offer other than convenience.

So wrapping this up, when you are seeking someone to list your property or to work with buyers to sell your property – do you prefer convenience or a problem solved?

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