Some buyers and sellers have begun using online services to handle everything for them, but that may not be the best route for everyone. To get a better look at how this choice could affect your next home purchase or sale, here are 3 reasons why you should work with a hybrid agent in Newark vs an iBuyer.
Hybrid Agent and iBuyer: What’s the Difference?
First, we need to understand what these two very different options are, and how they will impact your home buying or selling journey.
Hybrid agents — sometimes called agent-investors — are licensed real estate agents that do the regular thing of taking on clients to help those clients buy or sell a property. Additionally, they keep an eye out for stellar candidate properties that they can then purchase for themselves in order to put back on the market to sell for a profit.
Hybrid agents usually focus on a specific geographic area and quickly become experts on everything about that certain neighborhood or city.
An iBuyer is a company that operates an online platform with the entire goal of streamlining the buying and selling of homes to turn quick profits for shareholders. Their biggest selling point is they claim to remove all of the complications from the buying and selling process, but that often comes in the form of cutting corners. This can range from submitting shoddy paperwork to doing incomplete title searches or foregoing inspections for the sake of expediency.
A Proven Track Record
Hybrid agents, like all other real estate agents, build their entire career off their reputation and capability to get the job done to their client’s satisfaction. Years of participating in real estate transactions have honed their sales techniques, a database of contacts, and their all-important negotiation experience.
On the other hand, iBuyers may or may not work alongside a local real estate agent, and they’re almost certainly looking to use this individual agent as a dual agent — meaning an agent that represents both the buyer and seller in the transaction. Relying on a dual agent can leave you in a precarious position, as that agent is not there to back you up and fight for you when the chips are down.
The Hands-on Approach
When you hire the services of a hybrid agent, there is someone there for you from the beginning to the end of your home sale or search. They provide you with properties that fit your wants and needs, including homes that are part of their existing portfolio.
Keep in mind that, when a hybrid agent is offering up properties from their portfolio, they are looking to move the home quickly and without incident in order to make a reasonable profit without price gouging you. iBuyers are out to offer you too little or demand too much for properties in hopes of quickly getting in and out of the investment in the property.
Where a local hybrid agent has a level of personal investment in every property, the iBuyer has no ties to deal with once they’re free and clear of their investment in a property.
Take Advantage of Your Local Market
Every agent prides themselves on their knowledge of the local market, effective marketing strategies, and their ability to get their clients the best deals. iBuyers enter into every transaction with a lower level of market knowledge and then try their best to simply turn a profit — nothing else to it. If you choose to depend on an iBuyer you’re almost certainly leaving money on the table, and a hybrid agent can ensure that does not happen to you when buying or selling a home.
Your Hybrid Agent Partner in Newark
If you’re looking to work with a professional hybrid agent to buy or sell a Newark home, contact us today at (848) 299-4847!