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homebldr Launches iBuying Solution
Homebldr's new property reports leverage multiple data sources to help real estate professionals generate more transactions while home sales fall.
HOMEBLDR Property Reports provide traditional real estate professionals with a turnkey solution for starting their own iBuying programs and empowering their clients to successfully renovate and flip houses. The reports are property-level PDF reports that include the data, underwriting, and financing necessary to maximize the ROI for iBuying programs, fix & flip investments, and home renovation projects.
"From mid-2020 to mid-2022, it was an extraordinary time to sell a house. The housing market had record low inventory, record low average days on market, contingencies and showings were almost nonexistent, and many markets experienced all-cash bidding wars exceeding $100K over list price. That type of market makes instant cash offers from iBuyers much less valuable, and yet, iBuyers nearly tripled their market share in that time period," said Adam Eldibany, Founder of homebldr. "Now, houses aren't selling as quickly, bidding wars are less common, showings are necessary to receive offers, offers include contingencies, and buyers are backing out of contracts at a record pace. In a market with these characteristics, instant cash offers become much more attractive."
homebldr has observed that sellers are more than 2x as likely to accept an instant cash offer when it is presented by a local agent as opposed to coming directly from an iBuyer. In other words, homeowners like the product that iBuyers are offering, but they want to use it with their trusted, local agent. According to a study conducted by Clever Real Estate, 65% of homeowners are open to selling via the instant sale process, but 72% of homeowners still want to work with a local agent when going through with the transaction. The same study identified that the average homeowner is willing to accept $45,400 less for their house to sell instantly and to choose their closing date.
"As we enter a 'Slowcession' in 2023, homeowners are going to become desperate for liquidity and real estate professionals will be searching for ways to generate more transactions. This is going to cause both homeowners and real estate professionals to look towards the instant sale transaction process," said Adam.
homebldr is on a mission to drive the evolution of the real estate professional and to keep real estate professionals at the center of the real estate transaction process.
For more information on homebldr, visit: homebldrai.com
homebldr is an Austin-based proptech and fintech company that provides technology and capital solutions to real estate professionals so that they, and their investor clients, can tap into the growing segment of the housing market that demands the alternative selling process being popularized by iBuyers. homebldr helps real estate professionals, and their investor clients, start their own in-house iBuying programs.
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