Keller Williams is likely going to launch its own iBuyer program during the second quarter of the year.
Gary Keller, who recently returned to his namesake firm as CEO, said during a presentation of Keller Williams’ technology plans for 2019 that the company would probably launch the initiative in Arizona, Inman reported.
He said he was reluctant to do it but feels like there isn’t another option.
“I feel like I have no choice now,” he said. “I can’t allow Opendoor or Zillow to go out and be the only player in the iBuyer space and then begin to dictate terms and build brand around ‘they buy houses.’”
He had talked with Opendoor about getting agents with Keller Williams exclusive access to the platform, but negotiations fell through. Instead, Opendoor will provide leads to buyers who don’t accept Opendoor’s offer, and KW agents will be allowed to put up signs on properties Opendoor is selling.
iBuyer programs offer direct-to-consumer home-buying and selling platforms. They generally provide sellers with quick all-cash offers and then do some minor renovations to the home to get it ready for a quick resale.
Keller Williams had been testing an iBuyer program last year and completed almost 100 deals through it as of September. [Inman] – Eddie Small