More Brokerages Step Into the iBuying Business

To compete against the growing list of firms in the iBuyer world, brokerages are entering into the race of instant offers. Keller Williams plans to launch its own iBuying service next month called Keller Offers.

Keller Offers will first launch in the Dallas-Fort Worth market, and then expand to six to eight “major” markets by the end of the year, MarketWatch reports. The company plans to devote $100 million on instant offers in 2019.

“We see iBuying as an important additional offering for our agents to offer to home sellers,” the company has stated. 

Unlike several other iBuying programs, consumers will have a fiduciary (a Keller Williams real estate agent) serving them in selling their home using the instant offer route. “While we believe the addressable market for iBuyers represents less than 10 percent of the overall market, we do see this as an important additional option for KW agents to be able to offer their sellers,” said Keller Williams spokesman Darryl Frost in a statement. “Our goal is to minimize the cost to the consumer.”

The iBuying movement has caught the attention of the real estate industry. Wall Street has invested in millions to buoy startups in the space. These growing firms are using technology to make instant cash offers to sellers who want a quicker, more convenient sale and bypass selling the home publicly on the MLS…..READ MORE