You've probably been hearing a lot about so-called "iBuyers" and are wondering what's involved. An iBuyer is a company that will buy your home for cash, so you can then go and purchase your next home without a contingency. 
These companies claim to "accelerate the buying and selling of homes, making the process easier and immediately profitable for sellers who want to get their hands on the cash sooner than later."
Sound too good to be true? It IS!
If you're in a hurry to sell, and don't care how much money you get for your house, or how much it costs you, then go for it!
But if you want to get the most out of your home's equity, then you're MUCH better off by selling with a REALTOR.
Selling to an iBuyer is all about convenience. But what is the actual COST for that convenience?
First, the iBuyer is going to charge you 6%-7%. Yes, this is similar (or MORE) than what a REALTOR will charge you to list & market your home, but that commission gets split between listing agent & buyer's agent. An iBuyer pockets 100% of that fee.
Second -- and this is a key point -- the iBuyer is NOT going to pay you fair market value for your home. They are going to give you a lowball offer, possibly as much as 10% below fair market value.
Here is a real world example of an offer from Perch.com. They made an offer of $458K (which, coincidentally, was the AVERAGE selling price in the neighborhood). This did not take into account things like bedrooms, bathrooms, square footage, lot size, location, schools, or UPDATES! If I were to list that home today I'd list it for $495K.
What is "Fair Market Value"? Basically, it's what a ready, willing and able buyer is going to pay for your home on the open market, and is often based on what similar properties have been selling for in recent months.
Third, the iBuyer isn't looking out for your best interests. They are just looking to make some quick cash.
Here is a real world example of how the numbers add up:
If you're thinking of selling, you'll want to look at ALL factors involved. If getting top dollar for your home is your number one priority, then selling to an iBuyer is NOT the way to go.
But if you're looking for a quick sale without the "hassle" of listing your home traditionally, then selling to an iBuyer might be a good option for you.
If you're curious to know what the Fair Market Value is of your home, I'd be happy to perform a FREE market analysis so you can see the numbers yourself!