THE iBUYER CODE — Big Data keys to unlock the secrets of selling your home
Jan 29, 2020 Mike Casale | ibuyer.com
The iBuyer revolution is underway and it’s already reshaping how investors buy homes, how homeowners sell homes, how quickly real estate transactions happen, and the prices transactions happen at— which raises many questions: Is this a good thing for homeowners? When is the best time to sell to an iBuyer? What types of homes are iBuyers looking to buy? Are iBuyers paying a fair value? Perhaps more generally, can we decode the artificial intelligence which is driving their buying decisions?
Our research uncovers the fundamentals of the largest national iBuyers in real estate today: Do iBuyers like Opendoor and Zillow and Offerpad want a two bedroom home in Kansas? Do their ai models prefer purchasing homes in the Spring like human buyers, or do they exploit human behavior to purchase houses below market value, during different times of year, in different places, and for different reasons?
It’s All About the Data:
To provide answers, we dive deep into the data — reverse engineering the ai by analysing over 20,000 known iBuyer transactions during all of 2019 — drawing insights to put the power of Big Data in the hands of the little guy, homeowners.
