The Different Types of Buyers
The types of buyers in our real estate market are ever-changing. Frequently, the factors that are crucial to sellers will determine which type of buyer they choose. The highest-priced offer isn’t necessarily the one that wins, so you need to know the different types of buyers. There are currently four main types of buyers in our market:
1. iBuyers. That stands for instant buyer or internet buyer. They are huge companies that are well-capitalized that give you a cash offer, so there’s plenty of certainty and convenience with them. You can even choose your closing date, which is great if you’re going to buy another home. These buyers buy your home, then turn around and sell it.
2. Institutional investors. These are buy-and-hold buyers, meaning they’ll rent out your home to tenants. There are large national institutional buyers and smaller local ones.
3. Wholesalers. This is the smallest category of buyers; they often don’t even close. They get control of the property, then reassign the agreement for a fee. In our seller’s market these days, we aren’t seeing these buyers as much.
4. Owner-occupiers. These are the traditional buyers who have regular financing or pay in cash. They may inspect the home before living in it.
Getting the best deal as a seller may be determined by which type of buyer you select, depending on what you want or need out of the sale.
I’m here to help you get offers and pick the best one for your circumstances. If you want to buy or sell a home or have any questions, please let me know via instant message, phone, or email. If you’d like me to cover a specific topic in a future video, please let me know that as well. I’d love to help you.