iBuyer Growth Continues to Steamroll
Hi Guys, Great Show as always, however I’m with the above in that the FB page can not be found
So I have an idea why this might be so successful. I personally HATE having to be a member of all the different Realtor(with an R) boards and all the different MLS’s that have control over inventory in small parts of the community. For Example, I work Reno/Sparks MLS, there is another one for Carson City/Minden (less than 15 minute drive) there are no less than 4 different ones around Lake Tahoe. In the greater Sacramento area, all 3 counties banded together and have one MLS and you can be a member of any one of the 3 county boards plus we get access to at least search most Bay Area MLS’s but if we need key access once again we pay an additional fee. WHY NOT HAVE ONE NATIONAL MLS? OR
Sorry, that got posted before I was finished…How about ONE MLS and Board per state? WHY allow all these little kingdoms. Clients don’t care or understand why, Realtors that I talk to HATE it and feel like they pay through the nose for absolutely no benefit to themselves so to me maybe ibuyers are a good thing? Maybe this is a move to a national MLS where agents can truly serve their clients without geographical boundry’s. Yeah I know there are local disclosures and things that are important to know, but why not make those available to any agent licensed in that state under regional disclosures and make it part of the education requirements if you sell in multiple areas? We have a very archaic way of doing business thus the emergence of ibuyers…I personally would like to be an iagent!
This buyer craze is adding more grief into my appraisal business as their initial purchase prior to flip if under market is now a data point. Maybe that is why they raised the deminimus level and waivers are being issued. No one seems to care. Which I find interesting as we year 12 after the 2008, recession. If the 10 year treasury moves back above 2%. (Geez did I just that), the sellers will get an increase in desperation and a willingness to sale ibuyer. Should be interesting. Oh yea based on previous post Y’all wasn’t this expected especially in Arizona where they are actually above the law. Interesting. Great job guys.
What am I missing here? Your message says that iBuyers made up roughly 10% of all home sales in 2018 yet the graphic shows a total of less than 14,000 total between Opendoor, Offerpad and Zillow. Where are the other 600,000 homes iBuyers bought to get to 10% of the 6.12 million homes sold in the US in 2018?
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