When you’ve been waiting at a stoplight at a busy intersection, perhaps you’ve noticed a handwritten sign tacked to a telephone pole with the promise of: “We Buy Houses For Cash!” or “We’ll Pay Cash For Your Home!”.
Obviously, there’s something interesting about roadside signs like this but they also hint at a larger and very legitimate need. Some people want to sell their homes quickly and conveniently and are willing to offer a discount to someone who can make that happen.
At Tru Wholesale, a division of Tru Realty, we offer a similar kind of service. Our agents have the ability to give their sellers a cash offer for their home if the seller needs to move quickly or wants a more on demand level of service to sell their home. In fact, we’ve been in the wholesaling business far longer than the technology based real estate iBuyers. Tru Realty has been one of the top local wholesalers for almost a decade.
It’s important to know the difference between Tru Wholesale and the iBuyers of the world.
Small scale iBuyers are real estate companies that offer homeowners cash for their houses and flip properties as fast as they can. These companies typically do minor repairs and try to quickly re-list the home to sell it for a profit. For anyone who has seen one of those roadside signs or who knows a home flipper this all sounds like a familiar story.
The large iBuyers have the same model but are funded by millions of dollars of venture capital and/or are part of large, publicly traded companies. It’s massive amounts of funding that allow companies the ability to do enough volume to be viable a business. The margins are skinny though, so the large iBuyers like Opendoor, Offerpad, Zillow Offers, and the newest platform Knock could potentially lose profit with a small market shift.
This funding has also made it possible for those companies to build technology platforms that streamline the buying and selling process. This type of technology is also what sets iBuying apart from other more traditional wholesaling models like we provide at Tru Realty. Their technology includes both apps and websites, which typically give the consumer an offer within 48 hours or less. These companies are also servicing the on demand needs of the consumer. However, the largest complaint of the consumer is that they are forced to deal with a platform, in most cases, when they would rather experience a more personalized approach to selling their home for cash.
If a seller chooses to sell with Tru Wholesale they are getting a hands on approach to selling their home quickly. An agent will come to their house to assess the pricing, complete a detailed analysis of the home, give a cost breakdown of the repairs, and provide a full market value report of the home after the rehabilitation is complete. Additionally, Tru Wholesale is willing to look at all properties of all shapes, sizes and conditions. An iBuyer is only looking to acquire a home with minimal repairs if any. Tru Realty is able to take on much larger projects and align them with a seasoned investor who is not only looking for profit but also looking to update and improve the surrounding neighborhood.
Tru Realty can give you all the convenience and benefits of an iBuying experience with one significant difference. We’ll make it an easy, pleasant experience with a personal touch. Want to learn more? Contact me at Sarah@trurealty.com or call the office at 480.327.6700.
Sarah C. Richardson is one of the preeminent leaders of residential real estate in Arizona. As the CEO and founder of Tru Realty, she is responsible for both the daily operations and oversight of the multiple growth strategies that the brokerage carries out. Sarah launched Tru Realty in 2010 as a way to serve a marketplace that was seeing a shift from auction centric fix/flips to an MLS flow. She is now rethinking the way her brokerage uses technology to better serve clients and agents alike.