How To Compete With iBuyers – San Diego Real Estate Agent

How To Compete With iBuyers – San Diego Real Estate Agent

[Narrator] Next question. How do you compete? Like what can help you in your business for the next six months
or maybe the future with people like the Zillows, Redfin? Yeah I mean the main thing to understand, they’re coming and they’ve
got a shit ton of money and they’re not going away. So in a lot of these other
markets where they’re coming in everybody wants
to fight against them. It’s probably the worst
thing that you can do. You’re not going to beat them. I saw somebody post on a
Facebook group recently like does anybody have a good attorney? I need to sue Amazon. Like, are you stupid? (laughing) Like, just don’t. Just save yourself the time and don’t. So the way that you feel about that person that wants to sue Amazon
don’t be that person and try to fight against the iBuyers. They’re coming. They’re not going away. They’re going to be here so figure out how you can align with them. The only one that’s here
right now is Redfin. So Redfin, if you guys aren’t aware, they’re not public about it in San Diego, but if you sign up on Redfin’s site, you say has I own 123 Main Street, it’s going to send you a value every month and tell you hey your home
is worth 300,000 dollars. Oh, by the way we’ll buy your
home for somewhere between 270 and 295 thousand dollars. Call us. So Redfin is already doing it. They’re the only one that’s
currently in San Diego. Zillow is interviewing agents right now and they’re coming into San Diego in Q4. So they will be the second
entrant into San Diego. I don’t know if Offerpad
or Opendoor are coming yet but I can tell you I’m already
working those relationships so that if they do come here, I can figure out how I can
be a part of their network as opposed to the dumbass
who’s trying to tell people how stupid iBuyers are. They’re going to come to
your market so what a lot of our friends are doing in other markets that’s working for them is
you’ve got to think that what can I do that they can’t? What they can’t do, is present
somebody multiple offers. Opendoor can come in and Opendoor can present Opendoor’s offer. Offerpad can come in and Offerpad can present Offerpad’s offer. And there’s another company called Knock is the other big one, Knock can come in and Knock can present Knock’s offer but none of them, right
Opendoor’s not going to show you Offerpad’s offer and Offerpad’s not going
to show you Knock’s offer but if you partner with those guys, you can now come in there and
present all of those offers. And the majority of those
offers are typically in the 90 to 95% of market value is kind of where they’re playing. Well, if you go in there let’s say it’s a million dollar property, if they’re only offering these
guys 95% of market value, that’s a 50,000 dollar discount
on what their home is worth. What they found is typically
only about 3% of people are actually accepting the offer
that these guys are making. That means 97% aren’t. So if you go out and you
partner with these guys, and now you’ve put that out
there to your community, hey call us and we’ll come
present four offers to you in 72 hours and you come
in there and you’re like here is what Opendoor’s willing to pay, here is what Offerpad’s willing to pay, here is what Knock’s willing to pay, those don’t work, cool list with us and this is what we can get you. So, you leverage those
guys to get your foot in the door ’cause 97 out of 100 people aren’t going to take their offer. This is your way to get in front of them with something that none of
those guys can individually do.

2 thoughts on “How To Compete With iBuyers – San Diego Real Estate Agent

  1. This is a great response! Thanks for the insight!

  2. I'm a new agent. What exactly do you mean by partnering with them? Thanks!

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