iBuyers & Power Buyers: How to Use Them to Your Advantage

iBuyers (or instant buyers) and Power Buyers are changing the traditional real estate game, but are they friend or foe?

As reported by Realtor.com, according to a recent survey from Clever Real Estate, while 65% of homeowners are open to selling their home with an iBuyer, 72% of would still prefer to work with a real estate agent when requesting offers from iBuyers. That’s good news for agents everywhere, but what’s the best way to capitalize on this opportunity?

A New Type of Lead Source

Stuart Sim of Chime discussed this question and more with Tristian Ahumada recently and what he offers may surprise you. According to Sim, the best thing to do this is embrace an iBuyer and label it as another lead source for your business. A nuanced lead source, but still an opportunity, nonetheless. Notably, Tristan stressed the importance of going in with your eyes wide open when working with an iBuyer, recognizing that these sources, while valuable, are looking to take a significantly larger cut of the transaction.

Why An iBuyer?

Successful agents need to continue to build their lead pipelines. That requires access to multiple lead sources such as social media, Google PPC, traditional marketing outreach like fliers and bus signs, and more. iBuyers are another lead source to add into the mix as you continue to round out your pipeline. The trick is to understand which iBuyer is best for you and your business to partner with for the long term.

When evaluating iBuyers two things are most important 1) understanding the ROI model and 2) the quality of the lead. For example, leads from your iBuyer should be prequalified. If they aren’t and that conversation becomes difficult, then it’s likely not the right fit for you.

Chime has a partnership with iBuyer, HomeLight. The company facilitates billions of dollars of real estate on its platform every year and partners with top real estate agents on every step of the real estate journey. With two organizations that are focused on delivering innovative technology, Chime and HomeLight can help agents leverage iBuyer leads and nurture them to close. 

Position Yourself For Long-Term Success

Today’s real estate market is likely to continue to fluctuate and iBuyers are not going away anytime soon. To ride the wave and set your business up for long-term success, focus on building your pipeline as much as you can and incorporate iBuyer leads into your lead sources. Then let Chime and its all-in-one platform leverage the power of AI and automation to convert those leads for you and take your business to the next level. 

To learn more, check out our latest webinar on demand with LCA.

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