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What is an iBuyer?

Sawbridgeworth Property Market Adam Mackay 15th July 2021

Offerhive is the first UK agent-powered iBuyer platform, but what exactly is an iBuyer?

The term ‘iBuyer’ was adopted by many US technology firms who have blended technology with significant financial backing, to be able to offer customers the choice of having a concrete offer on their property that can close within a fast period.

“An iBuyer is a real estate investor that uses an automated valuation model (known as an AVM) and other technology to make cash offers on homes quickly” – Google. 


They represent a dramatic shift in the way people are buying and selling homes, offering in many cases, a simpler, more convenient outcome for customers that want a quick sale or need to repair a chain when a chain breaks down.

In short, for those who are new to the iBuyer model, Offerhive will use innovative technology to provide you with an offer range on your home instantly. Offerhive will match you to a certified network of experienced property professionals and provide you with a formal offer from one of our Property Buying Partners within 72 hours. If you accept the offer, a property inspection will take place to verify the condition of your home, you choose your moving date, and the Property Buying Partner buys your home. 

 

Why choose Offerhive?  

Offerhive is a simple, swift, and secure way to sell your property combining, technology and a certified network of experienced property professionals. 

Whether your sale has fallen through, and you do not want to miss out on your dream home, or you simply want a secure sale without inconvenience, Offerhive could give your sale a helping hand.

 

How does it work?  

Offerhive is the platform that connects the seller, with the estate agent by their side, to a certified Property Buying Partner. Offerhive will ensure an agent is part of each transaction, by matching every seller that expresses an interest in selling their home or completing their chain with our iBuyer, with a member of a certified network of experienced property professionals.

Based on the details provided about your property, Offerhive’s powerful algorithms will use data from market-leading sources to generate your Provisional Offer Range. But we look at more than just our powerful algorithm, we evaluate all factors about your property. Our Property Buying Partners' detailed review takes approximately 72 hours; once it is complete, your estate agent will contact you with the offer on your property. 

 

What is a Property Buying Partner?

A Property Buying Partner is a company that has funds to buy a property; put simply they are just a buyer, but a company rather than an individual.

All Property Buying Partners are vetted before working with Offerhive.

There are several checks and verifications that Offerhive require before going into a relationship with a Property Buying Partner that uses the Offerhive Platform. For example, ensuring that they are: 

-      a member of the National Association of Property Buyers 

-      a member of a recognised redress scheme, such as The Property Ombudsman 

 

iBuyer vs. traditional Estate Agents

It is important to us that we work with the right Estate Agents and include them throughout the Offerhive journey. Although Offerhive delivers a modern method of selling your home, the Estate Agent is integral to the process and therefore we use a certified Agent from The Guild of Property Professionals to support you through your selling journey.

 

How to use an iBuyer  

Once you have generated your offer range, your Estate Agent will discuss your Offerhive journey with you before progressing to request an Offer from our Property Buying Partner.

This will allow you to receive a formal offer on your property with no obligation to accept. If your home is suitable, you will receive an offer on your home within 72 hours.

Sleep on it

Take a few days to fully consider the Offer and determine whether this is the right choice for you. 

Make a decision

If you would like to accept the Offer, you can choose an appropriate moving date to get the ball rolling.  

It is that simple!  

 

Contact us

If you are looking to sell your home swiftly, efficiently and with security, request an offer today to get started. Call us on 01279 600 567 or email hello@mackayproperty.co.uk

Contact us
t: 01279 600 567

e: sales@mackayproperty.co.uk

Mackay Property HQ
25 Bell Street
Sawbridgeworth
CM21 9AR

 

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