We want to make buying a new home and selling an existing one as easy as trading in an old car.
Concerned about timing the sale of your current home, and the purchase of your new home and the potential risk of being forced to carry to properties, a double move, or being forced to find a new home quickly after your current home goes into contract? Perhaps you’re having a hard time selling your current home, or would you simply prefer not to deal with the expense or hassle of the traditional sales model? Our Columbus and Central Ohio Home Trade-In Program makes buying and selling a home faster and smoother than ever before!
How Our Home Trade In Program Works
We will send our Trade-In Representative to meet with you at your home to preview the property, assess its value, and prepare an offer that represents the property’s fair market value. You will receive an offer within days, and there is no cost or obligation and you can accept or reject our offer.
We buy homes “as-is,” so there is no need to worry about costly repairs and updates. You also won’t have to worry about expensive bridge loans, double mortgages, home sale contingencies that reduce your negotiating leverage, being rushed to find your next home as soon as your current homes goes into contract so as to time your transactions and avoid the need for temporary housing while we work to find the perfect home for you. Furthermore, if you decide to accept our offer and agree to buy your next home through us (a service that is free to you as sellers pay real estate commissions), we will waive the real estate commissions associated with the sale of your current home.
Once you’ve accepted our offer we will then assist you in finding your replacement home. There are no limitations here and you have the option of considering: pre-owned existing homes, already completed new homes, or even building a brand new fully custom home. As it relates to builders and communities, again there are no restrictions as we work throughout the greater Central Ohio region and with every local builder. Once we’ve found your perfect home and negotiated the sale, we will coordinate back-to-back closings for your sale and purchase.
Not Interested in Buying a Replacement Home
No problem. We will make an offer to purchase your home however, a 2% real estate commission will apply. You will receive an offer within days and avoid the hassle of listing your home.
**Some restrictions apply
How Our Home Trade in Program Compares
In recent months Zillow has introduced it’s iBuying program, Zillow Offers. The real-estate listing website has inked partnership deals with multiple home builders that will allow home buyers who buy a newly constructed home from one of these builders, to sell their current house to Zillow’s iBuying arm, Zillow Offers.
Zillow reports this program was designed to make it easier for buyers as they manage overseeing the construction of a new home while still living in their old one, however, there are some issues with their program and in fact it’s nothing more than an opportunity for the company to generate additional revenue for itself and it’s Premier Agents.
As mentioned there are some major caveats for homeowner considering Zillow Offers. When Zillow buys a home, the company said it aims “to present an offer that reflects the current market value” of the property. Zillow deducts a service fee (7% or higher) and estimated repair and closing costs from the purchase price.
Furthermore, while Zillow says they’ll take care of repairs, these will be priced above market value, meaning you’ll be paying more than if you hired a contractor yourself. Zillow isn’t a builder or a general contractor, they lack experience in this arena (and thus over estimate expenses to protect themselves from their inexperience), and do not currently have the infrastructure in place to generate cost savings on the repair / renovations side of the business.
We’ve also heard complaints of unexpected and absurdly high expenses popping up at closing, these for things like taking out the trash, this oversight cost a seller and netted the iBuyer an additional $400!
This program will only be available in the markets where Zillow Offers operates. By mid-2020, Zillow expects to have launched Zillow Offers in 26 cities across the U.S. Right now it’s available in Phoenix, Atlanta and Dallas, among many cities.
In the wider iBuyer arena, including companies like Opendoor and Offerpad, it is not uncommon for homeowners to pay more than 10% in fees. This is significantly higher than the industry standard for real estate commissions, which typically amount to about 6% for the seller.
On average, customers who sold their homes to an iBuyer netted 11% less than people who sold their homes on the open market. These companies need to generate a profit and are looking to do so on the front end through the purchase and sale of your property, where as with our program we typically earn nothing from the purchase and sale of your property, but generate a commission from the purchase of your replacement home, a commission which is paid by the home’s listing agent (see Who Pays the Real Estate Agent for an explanation on this).
Recap: What Are the Downsides of Zillow Offers?
- Offers likely to be significantly lower than market value
- Unclear as to how much agent fees will amount to
- iBuyers often charge more than 10% in selling fees
- No comparative market analysis (CMA)
- Lower sale price
- Inflated repair / renovation costs
- Zillow requires a closing date within 7 days and 8 months (it takes the average builder 9 months to build home from start to finish)
- Zillow Offers is only available in Atlanta, Charlotte, Dallas, Denver, Houston, Las Vegas, Minneapolis-St. Paul, Orlando, Phoenix, Raleigh & Riverside, CA
Sell Your How Fast and For Top Dollar
We understand that there is an array of reasons why you might wish to avoid the stress and hassles associated with the traditional model of selling a home, or why you might need to sell your home fast. Whether you’re looking to avoid the hassles of the standard model, or it’s because you need to relocate for work or you’re experiencing financial hardship, a fast sale doesn’t have to result in a lowball offer.
The best course of action is to use an experienced, full-service Columbus Ohio real estate agent. We have access to a wide range of resources and typically, a robust professional network in their area of operation, meaning they’ll be able to find a qualified buyer quickly.
However, the key difference is that when you work with an agent, they work for you and have a fiduciary obligation to look out for your interest and will help you get better offers and negotiate on your behalf. Zillow has no such obligation and is only looking out for itself and its bottomline.
Recognizing the need for a cost-effective alternative to iBuyer’s offerings, we established our Home Trade In Program.
When you work with us, you’ll get all of the service and support you need, while avoiding the iBuyer fees and expenses.
Interested in Learning More… or Ready to Get Started, click here Columbus and Central Ohio Home Trade In Program