Author Topic: Anyone pitted a corporate home buying firm against another?  (Read 260 times)

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Offline Soylent Green Is People

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Many of us have seen videos of Hey Google, Alexa, and Siri hold automated conversations between each other. The purchase market is becoming more and more automated every day, although a good Realtor will always perform better than these corporate agents might. As families and individual buyers are being crowded out of the real estate market by corporate home buying firms, I wonder if anyone has pitted an OpenDoor against a OfferPad/RedfinNow/Zillow to buy their home, or any other mixed set to see which company would bid the highest? If so, how was the experience?
« Last Edit: June 18, 2021, 12:43:56 PM by Soylent Green Is People »
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Offline marmott

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Re: Anyone pitted a corporate home buying firm against another?
« Reply #1 on: June 18, 2021, 02:49:46 PM »
Never try pitting them against each other but I have an investment property near Sacramento and I looked up what OpenDoor would offer for it earlier this year. Since then they send me updated offers on a regular basis:
- Feb 22: $639K
- Mar 28: $679K
- Apr 06: $694K
- Apr 18: $705K
- Jun 04: $693K
- Jun 18: $708K

It looks like they scan the nearby closings for similar homes to adjust pricing. I don't think they go very deep on comparing houses, view or larger lot doesn't seem to be picked up by their algorithm but I guess it would be at the next step once a human gets involved.

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Offline Soylent Green Is People

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Re: Anyone pitted a corporate home buying firm against another?
« Reply #2 on: June 19, 2021, 10:24:42 AM »
Has a non-Corporate iBuyer Realtor given you any market data about what the home might sell for? Would be interesting for me at least to see what the computers say at the start versus someone more real time/boots on the ground might say is a fair list price.
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