iBuyers Are Knocking at Our Door - Part II
Tom Blefko • September 23, 2019
In Part I of this blog post which you can read about here, we reviewed what an iBuyer was, how they operate and what type of seller would want to utilize their services. When agents learn about iBuyers for the first time, they have a tendency to think, “How can I compete with this?” After all, these companies can hand sellers a proceeds check in as little as two weeks with no hassle.
The emergence of iBuyers has actually provided agents with a great opportunity to evolve and strengthen their business.
Here are six strategies for agents to not only beat iBuyers but also to grow their business:
- Nurture your database and sphere of influence. If you don’t have one, start one. If you do have one, start taking it more seriously. Agents need to start fishing for the consumer further upstream before they hit the national portals; because once they latch onto a site like Zillow.com, it may be too late. Touch your database on a continuous basis and differentiate yourself by offering better service, more personalized care and a stronger one-on-one relationship. If they know, like and trust you, you’re more likely to earn their business.
- Spend some time determining your Unique Selling Proposition (USP). What sets you apart from other agents and iBuyers? If you can’t answer that question, you need to spend some time figuring it out. What service(s) do you offer that others don’t? What makes you special? If you can answer these questions, you’re well on your way to creating a USP. But you’re not done yet. You need to continuously communicate it to your database and sphere of influence (see #1).
- Embrace technology and utilize it to your advantage. Stop making the excuse that you don’t have time to learn a Customer Relationship Management (CRM) system. Find the time. Automate your systems so that you can contact more people in less time. Find ways to use technology so that existing clients have more control and visibility over transactions. The more clients know what is going on in a transaction, the less fear and uncertainty they will experience.
- Hop on the bandwagon with iBuyers. Don’t act like they are the enemy. Take the time to learn how their models work so that you can be ready to explain the points of difference between your service and theirs. Oh by the way, many iBuyers utilize agents when reselling the homes that they purchase. Some will even pay referral fees to an agent’s brokerage for recommendations. The more you know about how iBuyers operate, the more you will be able to compete and even profit.
- Market hyper-locally. The big iBuyer players need to advertise on a national scale. They’re throwing a large net into the ocean trying to catch a few fish. Agents on the other hand have an advantage because they don’t have to try and attract clients outside of their market area which is usually geographically confined. If you haven’t learned how to advertise on Facebook, Google or Instagram, start now. These platforms allow you to target market at a very reasonable cost.
- Become an expert at navigating the complex transaction. The only thing I can say for sure is that the real estate transaction isn’t getting any easier. The agreement of sale continues to grow in length; more and more addendums are added to the PAR standard library of forms every year; and governmental regulatory disclosures seem to increase with each passing decade. Your clients are looking for certainty and security. Take the time and become a student of the transaction so you can guide clients through the storm that is a real estate transaction.
iBuyers may not appear on our doorstep tomorrow; but they are coming. Prepare now to arm yourself and be ready . . . there has never been a better time to up your game.
Tom Blefko, Berkshire Hathaway HomeServices HomeSale Realty
Facts, opinions and information expressed in the Closing Comments Blog represent the work of the author and are believed to be accurate, but are not guaranteed. The Lancaster County Association of Realtors® is not liable for any potential errors, omissions or outdated information. If errors are noted within a post, please notify the Association. Posts represent the author’s opinion and are not necessarily the opinion of the Association.
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As a member of the Pennsylvania Association of Realtors (PAR) , you have access to a wide range of resources to support your real estate career. Here’s what’s included with your membership: Legal Support & Resources • Legal Hotline: Have a legal or regulatory question? PAR’s Legal Hotline provides information to support your clients. Submit a form online to verify your membership or call 800-555-3390 to receive the hotline number. Access the Legal Hotline here: https://www.parealtors.org/legal-hotline/ • Legal Help Articles: PAR offers an extensive library of Legal Help Articles for members. Browse the articles here (member login required): https://www.parealtors.org/legal-help-articles/ Market Data & Industry Reports • Pennsylvania Housing Market Report: In addition to LCAR's market reports, this monthly report provides insights into housing trends across the state. (Temporarily suspended as discrepancies in reporting are being corrected.) View the latest reports here: https://www.parealtors.org/housing-report/ Governance & Industry Involvement • Committees, Councils & Feedback Panels: Get involved with PAR leadership and decision-making by joining a committee or council. Apply for an appointment here: https://www.parealtors.org/governance/ Education & Professional Development • Webinars & Events: Stay informed with industry courses, webinars, and events designed to help you grow professionally. Find upcoming events here: https://www.parealtors.org/events/ • Triple Play Convention & Trade Expo: A joint convention for Pennsylvania, New Jersey, and New York Realtors, held annually in Atlantic City, NJ. The 2025 event takes place December 8-11. Advocacy & Political Action • RPAC (Realtors Political Action Committee): RPAC helps influence government decisions that impact the real estate industry, homeowners, and commercial businesses. Learn more about RPAC and advocacy efforts here: https://www.parealtors.org/advocacy/ Standard Forms & Transaction Tools • Standard Forms: PAR provides up-to-date standard forms used daily by real estate professionals. Members receive free access to fillable, electronic forms through Lone Wolf Transactions (zipForm edition). Access forms here: https://www.parealtors.org/resources/electronic-forms/ News & Industry Updates • JustListed Blog: Stay updated with the latest real estate news and trends. Subscribe to JustListed here: https://www.parealtors.org/blog/ Exclusive Discounts & Savings • Member Discounts on Products & Services : Take advantage of preferred partner savings on business and personal products. Explore membership savings here (login required): https://www.parealtors.org/membership-savings/ Your PAR membership is packed with valuable tools and resources to help you stay informed, supported, and successful. Take advantage of everything included and make the most of your membership! -Copyright © It's Included! - Your PAR Membership Benefits, Lisa Naples, Berkshire Hathaway HomeServices Homesale Realty. 2025. All Rights Reserved. Facts, opinions and information expressed in the Blog represent the work of the author and are believed to be accurate, but are not guaranteed. The Lancaster County Association of Realtors is not liable for any potential errors, omissions or outdated information. If errors are noted within a post, please notify the Association. Posts represent the author's opinion and are not necessarily the opinion of the Association.
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