A number of companies – like Offerpad, Opendoor, Zillow and Redfin – have launched iBuyer initiatives that present home sellers with an instant cash offer for their properties.
Now, publishing platform zavvie is launching a tool to help home sellers navigate these instant online bids.
It’s called the Offer Optimizer, and it enables sellers to view multiple offers instantly from leading iBuyers and compare them side by side with information on varying costs and fees as well as timeline expectations.
It also presents the seller with information to compare what their sale would look like if they chose a local iBuyer, national iBuyer, or put their property for sale on the open market.
"Instant offers are the biggest thing to happen to real estate since Zestimates," said zavvie Co-Founder and CEO Lane Hornung. "Zavvie puts instant offers on overdrive with Offer Optimizer, ensuring sellers squeeze every last dollar out of their home sale."
Zavvie said iBuyer offers represented just 0.2% – or 12,700 homes – of all sales in 2018, but that it this market is growing “exponentially,” citing Phoenix, where one in 20 homes are bought by an iBuyer company, as an example.
The company said the Offer Optimizer uses hyperlocalized iBuyer data to simplify the comparison process, and that it’s currently available in all major markets where there is iBuyer action.
"It's all about transparency," added Hornung. "The consumer thinks instant offers are all the same, but they are not. Sellers need an easy way to collect, compare and choose the best offer, and that's exactly what zavvie does."