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HomeBldr, a company that helps real estate brokerages and investors offer homesellers cash offers, has launched a financial analysis feature to help its clients make smarter buying decisions.
Called “HomeBldr Property Reports,” the mechanism calculates for users a number of return-on-investment scenarios, taking into account market conditions, available financing and any need for renovations and improvements.
Homebldr Founder Adam Eldibany said in a statement that sellers want the efficiency and security of a cash offer, but market changes have made them harder to come by.
“That type of market makes instant cash offers from iBuyers much less valuable, and yet, iBuyers nearly tripled their market share in that time period,” he said. “Now, houses aren’t selling as quickly, bidding wars are less common, showings are necessary to receive offers, offers include contingencies, and buyers are backing outof contracts at a record pace. In a market with these characteristics, instant cash offers become much more attractive.”
In a Inman review, HomeBldr was described as a home search tool that favors homes with renovation potential. It pairs that experience with a list of local lending partners that offer quick-cash financing to ensure a more efficient deal. It also provides users a list of local service providers who can provide final project quotes and potentially be of service, broken down room-by-room or by project specialties, such as those best for decks or roofs.
The new feature provides a spreadsheet-like chart of various “iBuying” and investing scenarios based on number of years a home is held, calculating down payments, fees, estimated sales price, loan amounts and other basic deal terms used to determine if a property is a worthy investment.
The report can provide agents a solid common source of information when considering how to move forward on a home. It also offers a “deal grade” to help rank how sale scenarios stack up against others.
“As we enter a ‘slowcession’ in 2023, homeowners are going to become desperate for liquidity and real estate professionals will be searching for ways to generate more transactions,” Eldibany said. “This is going to cause both homeowners and real estate professionals to look towards the instant sale transaction process.”
A number of companies have looked to integrate aspects of the iBuying approach into technology offerings, mainly from the standpoint of comparing benefits to the seller. Zavvie and Zoodealio are prime examples, the former recently partnering with Windemere Real Estate to deliver a custom product to its brokers and agents, Windemere Offers.
Windemere Offers “helps sellers compare and choose between an instant sale, an iBuyer, a buy-before-you-sell modern bridge solution or listing their home on the open market,” according to a statement.
Zoodealio’s software swiftly compares a range of purchase options in a sharp, dynamic user experience, as well as leveraging integrations with renovation-minded apps, Curbio and Revive, to provide a “Fix It Then List It” program.
Have a technology product you would like to discuss? Email Craig Rowe
Craig C. Rowe started in commercial real estate at the dawn of the dot-com boom, helping an array of commercial real estate companies fortify their online presence and analyze internal software decisions. He now helps agents with technology decisions and marketing through reviewing software and tech for Inman.