Low inventory and high demand have created a seller’s market. Investors eager to turn a profit are using cold calls and texts to get their hands on houses. Many of these offers are legitimate, but they probably won’t get you top dollar for your home.
If your phone is buzzing with calls and texts from random numbers trying to buy your house, you’re not alone. Unsolicited offers to buy homes are rising, leaving many homeowners frustrated, confused, and wondering: “Why do I keep getting offers to buy my house?”
This can be especially confusing for homeowners who aren’t interested in selling. If you’re getting texts about selling your house, read on to understand where these calls are coming from and what you can do about them.
Cold calling is an old sales trick, but you’re experiencing it more than ever because of the state of the housing market.
It’s not news that the market is hot, but just how hot is it? Freddie Mac estimates a housing deficit of more than 3 million homes, making it more competitive than ever to buy a house. Sale prices reflect this: The National Association of Realtors reports that the median existing-home sales price rose to $375,300, an increase of 15% from one year ago.
All signs point to the seller’s market persisting in 2022. With so little inventory and so much money to be made, players looking to make it in the real estate game are resorting to old-school sales tactics (like cold calling) to solicit unlisted houses.
It might not seem like it, but there’s a person on the other side of the phone. So who are the anonymous buyers behind the texts about selling your house? In all likelihood, they fall in one of the following categories of buyers:
Real estate is a solid investment. Climbing home prices and shrinking inventory have made ample opportunities for investors to turn big profits. The same factors driving profits for investors have also pushed more Americans to rent, doubling the opportunity for investor gains.
Investors have taken note and account for a whopping 22% of all home sales in January 2022, an increase of seven points in just one year.
But not all home investors have the same aim. The following are some of the most common types:
Homebuyers will sometimes partner with real estate agents to send unsolicited offers to homeowners to try and make an off-market deal. This type of deal is advantageous to homebuyers looking to avoid bidding wars in especially competitive markets.
Since the homebuyers these agents represent are highly invested in living in your area — or even your home, specifically — they may be open to negotiating a deal that’s favorable to you.
The answer is probably both. While most of these offers are likely legitimate, it’s important to evaluate them with a healthy dose of skepticism. If you decide to sell your home, you’ll want to ensure that the deal will make you top dollar while protecting yourself from predatory scams.
Protect yourself with the following steps:
You may be getting texts to buy your house even if it isn’t listed. This can be disturbing for homeowners, especially when the offers are persistent and come from multiple sources.
We live in the information age, and unfortunately, much of our private and personally-identifying information is available online. If investors are specifically interested in your home or neighborhood, they may be able to use contextual clues to find your information online.
More often than not, though, investors buy lists with the information of homeowners who live in their target markets. They can purchase or rent these lists from other companies who already have your information.
Unfortunately, there’s no simple solution to halt unsolicited offers on your home. But if you’re looking for some peace and quiet, you may be able to ease the bombardment of calls and texts.
Here’s how to slow — if not entirely stop — unsolicited offers to buy your house:
If you’ve vetted the offer and determined it’s from a legitimate source, you could be in luck – many investors will offer you cash with no contingencies for your home. If you’re looking to sell your house fast, taking one of these offers could be a quick and easy solution.
But it’s probably not the best deal. Remember, investors are looking to turn a profit, so they are offering you far less than your home’s true worth. Plus, in a seller’s market, it’s generally not a good idea to accept the first offer on your home.
You’re better off listing your home if you want to make the biggest profit on your home sale. But you don’t have to put up with the hassle of traditional real estate to do so. For example, when you list with Orchard, you get stress-free home prep that can include value-boosting updates at no upfront cost. You can even opt in to a guaranteed sale with an optional cash offer. Get started here.
These days, homeowners looking to sell hold all the cards — getting texts to buy your house is just another reminder of just how powerful homeowners are in the current market. Whether you decide to accept one of these offers, list with Orchard, or pursue a traditional real estate path, be empowered in your choice.
Orchard guarantees your home will sell, so you can buy your next one worry-free.
We provide peace of mind that your home will sell, plus list your home on the market to maximize your earnings.
Use our home sale calculator to estimate your net proceeds.
Our Home Advisors are experienced local agents who know how to sell for top dollar and help win your dream home.
All Orchard Home Advisors are experienced agents who know your local market inside and out. Request a consult today.
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