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What You Need to Know About Companies Like Opendoor and Offerpad
You may have heard of Opendoor and Offerpad, but what do these kinds of companies actually offer you as a seller?
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Today, I’d like to share some information about two big players in the world of wholesaling and direct seller offers.
Right now, direct offers to sellers from institutional wholesale buyers are a big trend in real estate. There are two main companies pioneering this space: Offerpad and Opendoor.
You may have seen advertisements from either of these companies via direct mail, on TV, on the radio, or elsewhere. These companies boast that they will buy directly from sellers, targeting those who may be attracted to the convenience this kind of deal has to offer.
Some sellers may be attracted to the convenience a wholesale institutional buyer can offer.
However, while convenience is a positive aspect of this kind of transaction, there is a downside. Sellers on the open market will typically net more for their property than those who sell directly to a company like Offerpad or Opendoor, even after a fee of 6%.
There are ways that Realtors can work with these companies. So if you have any interest in this kind of transaction, feel free to get in touch. My team and I would be happy to discuss your options with you.
Ultimately, the best way to decide what is best for you and your property is to clearly understand which will earn you a higher net income.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.