eXp Realty Expands iBuyer Program to 12 More States
December 19, 2019
Another real estate brokerage is broadening its instant cash offers to home sellers. eXp Realty, a cloud brokerage, announced this week that its home buying and selling platform, Express Offers, will be expanded from just one state to 13.
The brokerage-led program allows sellers to request an offer online and work with an eXp Realty agent to submit it to a number of institutional buyers who are interested in purchasing homes in that market. Sellers who receive an instant offer are able to bypass showings and any perceived hassles of listing a home publicly. With Express Offers, properties are submitted to more than one buyer, which could potentially provide sellers with multiple cash offers within two business days. There is no obligation for sellers to accept the offer, and they can still choose to list publicly with an eXp agent on the MLS.
Several real estate brokerages have begun offering their own iBuying platforms this year, after the growth of Wall Street–backed firms like Opendoor and Offerpad. In 2019, Realogy launched RealSure in conjunction with Home Partners of America that allows sellers to receive a cash offer on their home that is valid for 45 days while also publicly listing their home with a Realogy agent. Keller Williams launched Keller Offers and partnered with the iBuying platform Offerpad in select markets to expand the option to more sellers. Redfin partnered with Opendoor to widen standard iBuying offerings through its Redfin Now program.
Express Offers has expanded to include Arizona, Colorado, Florida, Georgia, Idaho, Illinois, Nebraska, Nevada, New Mexico, Texas, Utah and Virginia. Express Offers is also available in California.
“Express Offers’ rapid expansion from one state to 13 in just three months offers home sellers another choice in how they sell their home while still working with a local real estate expert to ensure their best interests every step of the way,” says Ted Laatz, eXp World Holdings’ vice president of affiliated services. “Since launching in California in October, we are seeing positive early signs of adoption and are excited to expand Express Offers to all 50 U.S. states in the near future.”
Updated: May 07, 2021