If you have a need to sell your home quickly the "Instant offer", better known as the "iBuyer", may work just fine for you. These offers require minimal listing preparation, the seller pays no commissions and the transaction is quick to close however do know it is going to cost you. Many studies suggest that the average instant offer makes the seller less money than selling their home on the open market. That is 13-15% less than the fair market even after paying out any real estate agent’s commissions.
These iBuyer companies that allow you to cash out quickly are relatively new to the industry. At this time, OpenDoor appears to be the most dominant iBuyer, however, there have been many other companies joining the ranks, such as Zillow Offers, Redfin Offers, OfferPad, Keller Offers as well as the lesser-known Knock, Realogy, CataLIST, and Perch.
You may wonder how do iBuyers make money and what are the benefits to the sellers? It is simple, they purchase your home at a significantly low price where they are able to relist it and sell it at a nice profit on the open market. The iBuyer knows he has built a nice margin of profit into their deal so their risk is minimal. As for the Seller, he/she gets to sell their home quickly, but that's about it.
Most Sellers want to maximize their profits on the sale of their home. So if this is your goal, then this is most definitely not the sales model for you.