What is an instant offer?
Instant offer real estate deals, in which buyers use information about your home and data about recent nearby real estate transactions to make a quick offer on your house, can be a good solution to these types of situations.
It's all about finding a way to communicate with the other parties and find out what they want. The way to do that is through the instantaneous delivery system.
The five stages of the Instant Offer System include:
1. Build rapport with the broker or seller
2. Establish an up-front Agreement
3. Build the broker`s or seller`s motivation level for selling
4. Determine the financial details of the deal
5. Find the critical pieces to winning deal
One of the simplest and most difficult things to do is to act as a reluctant buyer. This is easy because the concept is so straightforward. You just need to ensure that you seem more reluctant to move forward on the deal than the seller or broker. On the other hand, the reason it can be so difficult is that when an agreement appears to be coming to fruition, it’s hard not to show excitement and even more reluctance.
What are the pros and cons?
Henderson states that you first need to examine your current situation to find the best option and instant offer real estate deals for you. Thus, you should be aware of some of the potential benefits and drawbacks of instant offer real estate deals.
Benefits. Instant offers real estate transactions that come with the benefits of speed, convenience, and flexibility. If you need to move quickly or need cash fast, then instant cash offers would speak to your goals.
You can also choose to skip repairs if you do not have the time, energy, or money for them. This is useful for properties that have fallen into disrepair, are inherited, or are not physically close to you.
Drawbacks. A possible downside of an instant offer real estate deal is that you could be selling your home for less compared to if it were on the traditional open market and you were working with a top agent.
There is also less possibility for negotiation than with traditional open market sales, which means that there is more room for potential buyers to inflate their repair costs. This risk may be increased if you do not have a real estate agent to comb through the costs, according to Henderson. There is also a possibility of getting scammed or working with buyers who may not be forthright about their buying abilities.
If you’re interested to find out how the process works when you sell to us or are ready to request an offer on your home, connect with our agents.