iBuyers continue to be a topic of conversation in real estate circles large and small throughout the U.S. While the term "iBuyer" used to be synonymous with "disruption," today, it's more about opportunity than anything else.
During RISMedia's recent webinar—"Turning iBuyers Into Leads"—panelists Lee Tessier, team leader of The Lee Tessier Team of Tessier Real Estate; and Cleve Gaddis, coach with Workman Success Systems and team leader with Gaddis Partners, RE/MAX Center in Atlanta, Georgia, shared their tried-and-true tips for leveraging the iBuyer model to their advantage.
Moderated by Verl Workman, founder and CEO of Workman Success Systems, and sponsored by Homes.com, the webinar focused on what real estate professionals can do to stay ahead of the game.
"We’ve all heard about iBuyers, and while the name is really catchy, a lot of us have questions as to what it's all about," said David Paris, national broker consultant at Homes.com, who challenged attendees to think of iBuyers as wholesale vs. retail.
"Buying wholesale is great, but if you're a seller selling for wholesale prices, not everybody wants to do that," explained Paris.
As the iBuyer business continues to grow and evolve, it's more important than ever that real estate professionals provide their clients options.
While the iBuyer hasn’t yet landed in Maryland, Tessier is keeping his ear to the ground and giving his clients options to get out of their home without having to worry about taking care of repairs and fixing up the property.
"The more options you give clients, the better off you are," said Tessier, who has come up with an Instant Offer program, a Guaranteed Sale program and a Sale Price Closing Date Peace of Mind program—all of which were designed to take the stress out of the equation and provide greater flexibility for clients.
For Tessier, more than anything else, it all boils down to thinking outside the box.
"I think people are looking to real estate professionals to see what they're doing to differentiate themselves," explained Tessier, who is always looking to do the things that others aren’t.
"Go above and beyond for your client by giving them what they want, not what you think they want," he added.
Gaddis is driven by this same philosophy, underscoring the importance of sitting down with sellers and having a conversation about what they actually want.
"We have to get out of our heads," explained Gaddis, who truly believes that if you can't beat them, join them.
Working in a market that has a significant amount of iBuyer competition, Gaddis continued the conversation by explaining why a seller would be interested in selling to an iBuyer rather than going the traditional route.
"It all boils down to the fact that the average consumer fees like selling a home is too stressful—and they're so nervous that they don’t know where to begin in order to get repairs done," said Gaddis.
To that end, it's important to understand that iBuyers are selling speed, certainty and convenience.
"If you know they're selling these things, and they're taking business away from you, maybe you should begin selling speed, certainty and convenience. Maybe you need to be selling the same thing they're selling," said Gaddis.
Working with a third-party vendor who collects offers on the big iBuying platforms, Gaddis and his team provide an Instant Offer program that allows them to present a variety of offers to their sellers.
"You as an agent are connecting sellers to iBuyers doing business in your market area, which makes you look like the hero," said Gaddis.
"In the end, when it comes to understanding what an iBuyer is, it's simply giving people the option of being able to move forward with peace of mind no matter what happens," concluded Workman. "The way we overcomplicate it leads to us being afraid of it, but it doesn’t have to be that way."
Watch the full webinar below:
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