Reputation and branding can seem like they’re everything these days. That’s as true for real estate investing as it is for any other industry. And if you’re looking to sell your house fast, you want to make absolutely certain that the house buying company you choose is as reputable as they are fair in their estimate.
But how do you know they’re going to give you the best offer?
Well, the “best offer” can be quite subjective to ones circumstances and situation. But overall, the best offer really is what everyone wants…the highest price possible. For you to personally know if you are getting the best offer though, it will take a combination of market research and trust in the reputation the house buying company has established over time.
But what’s true for you can also be true for a house buying company. As blunt as it may seem, they’re looking to make a profit too. And sometimes, for less than reputable house buying companies, the desire for profit can take priority over treating the customer right. So do your research. It will pay off. But let’s talk about some national and local house buying companies and which is better.
iBuyers And Regional Experience
By now, you’ve probably seen no small share of signs and billboards stating “We Buy Houses.” But we live in an increasingly digital world, which has given rise to a new breed of house buying companies—iBuyers.
iBuyers work much like any other house buying company, only it’s strictly online. You enter some details about your home and within minutes, you can receive an estimate. It’s fast. It’s convenient. And if it sounds too good to be true… that’s because it usually is.
iBuyers tend to be centralized in the Northwest and California, although they frequently will have regional representatives who offer to assess the condition of your home in person. But that initial estimate you received? It’s frequently based on an algorithm and may not reflect the actual offer you’ll receive. And that regional representative may have no real estate experience at all.
That’s because they’re digital investors, not experienced real estate professionals. They know you’re looking to sell your home fast and can give you a tempting offer. But in most circumstances they don’t know the highs and lows of the Utah housing market locally. They don’t know local historic trends. They don’t know the local neighborhoods. And they’re certainly not looking out for your best interests.
What Are The Benefits Of A National House Buying Company?
Reputation, for one. Regardless of how suspicious their marketing campaigns might seem, many national house buying companies have been in business for over twenty years. And they’ve helped thousands of homeowners get out from under mortgage debt and foreclosure, quickly and without hassle. They’re not fly by night operations sitting behind a computer screen. They help their clients; and in the process, help local businesses by hiring contractors, plumbers and carpenters.
But just how well do they know your local housing market? They might be able to help you out of a tight situation, but are they optimizing your sale—or are they optimizing their own investment? How extensive is their local expertise? And just what is the actual extent of their real estate background in general?
How Credible Are Local House Buying Companies?
The truth is that most house buying companies, local or national, are entirely credible. But they should have some history that’s traceable. It could be their web presence and BBB history. It could be incorporation papers you can look up on Utah’s Division of Corporations and Commercial Code. It could be customer testimonials. But never take them for granted. Ask questions—lots of questions. Simply taking a house buying company’s word regarding their background is nothing short of potentially victimizing yourself.
Particularly if they’re asking for fees upfront. Or fail to provide a detailed contract outlining the exact amount you can expect and what fees are involved. Or if they offer to pay in installments. Or if they offer to pay cash in full, only to suggest the option of unsecured seller financing in lieu of their full offer. All of which are some of the most common signs of scams we personally hear about far too often..
But even more specifically, you want a Utah based company that knows the area. One that’s sold and renovated hundreds of properties over the years. And one that understands the needs of Utahns. Their values and their dreams. And that’s where we come in. We’re Gary Buys Houses and for over ten years, we’ve been helping homeowners create win-win situations with selling their houses quickly and honestly, at a fair cost with no hidden fees or obligations. We may not have the marketing budget of a national house buying company, but we know Utah its great people and the housing market which empowers us to make you the best possible offer for your house for your specific circumstances.
And in the end, isn’t that what matters?