In this episode of the OfferMarket Podcast, Daniel discusses turnkey rental properties and walks you through a recent deal. Subscribe and enjoy!

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Episode 3: Turnkey Rentals Brain Drain | OfferMarket

OfferMarket Podcast, Episode 3: Turnkey Rental Properties Brain Drain 

Small houses are not necessarily hard to sell, though it depends on a few factors:

 

## Is it priced to sell?

 

The #1 home selling mistake we see is when a home is not priced appropriately. Listing too high will result in many would-be-buyers not even inquiring. Many will wait for possible price drops or keep looking at other options. What's more, many buyers have firm maximum price limits and won't even consider or be altered to your listing. 

 

To sell your house fast, you need to price it at an attractive point to draw in as many buyers as possible. This means carefully analyzing [comps](https://www.offermarket.us/real-estate-glossary/comps).

 

## How small are we talking?

 

In your local there are likely many people looking for houses for sale with 1 to 2 bedrooms and 1 bathroom. But if we're talking about a tiny house (100 to 400 square feet), then the market of prospective home buyers is probably also tiny.

 

### How unique is the house?

 

If your house is designed in a manner that very few people find appealing, then you would need to reduce your asking price in order to sell in a timely manner.

Are small houses hard to sell? Not necessarily, it depends on a few factors. There's more to learn at OfferMarket. 

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Are small houses hard to sell? - OfferMarket

Are small houses hard to sell?

## Zillow Offers competitors include:

 

- Opendoor
- Offerpad
- RedfinNow
- OfferMarket

 

| Service | Type | Offer Competitiveness |
|:-------------:|:---------------------------------------:|:---------------------:|
| Zillow Offers | iBuyer | Low |
| Opendoor | iBuyer | Low |
| Offerpad | iBuyer | Low |
| RedfinNow | iBuyer | Low |
| OfferMarket | Marketplace | High |

 

## What is Zillow Offers?

 

​Zillow Offers is an "iBuyer" (short for "instant buyer") of single family homes. [iBuying](https://www.offermarket.us/real-estate-glossary/ibuying) is a new home sales model where you receive a cash offer to sell your home fast. While there is an incredible convenience factor in play, the iBuying model comes with some drawbacks that we feel are important to know. If you're looking to sell your home fast and looking for Zillow Offers competitors, this article aims to detail your options.

 

## Things to know about the iBuyer model

 

- Service is available in limited markets
- Not all houses receive an offer
- You will receive a lower offer than you would in a competitive sale
- You will pay service fees of 6% - 10% (not including repairs)
​
 

## How does Zillow Offers work?

 

1. Check to see if Zillow Offers is available in your area and if your house is eligible to receive an offer.
2. Submit your application
3. Review your estimated Zillow Offers sale price ("market value")
4. Schedule your home evaluation during which repair costs will be estimated and deducted from your market value estimated sales price
5. Review your final offer, if you accept you choose a closing date
​
 

## How does Zillow Offers determine their offer price?

 

Zillow Offers uses a combination of comparable analysis, home-specific information, local broker feedback and machine learning in order to prepare their offer. Your official offer will factor in your in-home evaluation visit to adjust for required repairs.

 

## Where is Zillow Offers available?

 

Zillow Offers is currently available in select cities across 12 states including Arizona, California, Colorado, Florida, Georgia, Minnesota, Nevada, North Carolina, Ohio, Oregon, Tennessee, Texas. 

Arizona 
​Phoenix, AZ 
Tucson, AZ 

 

California 
Los Angeles, CA 
Riverside, CA 
Sacramento, CA 
San Diego, CA 

 

Colorado 
Colorado Springs, CO 
Denver, CO 
Fort Collins, CO 

 

Florida 
Jacksonville, FL 
Orlando, FL 
Miami, FL 
Tampa, FL 

 

Georgia 
Atlanta, GA 

 

Minnesota 
Minneapolis-St. Paul, MN 

 

Nevada 
Las Vegas, NV 

 

North Carolina 
Charlotte, NC 
Raleigh, NC 

 

Ohio 
Cincinnati, OH 

 

Oregon 
Portland, OR 

 

Tennessee 
Nashville, TN 

 

Texas 
Austin, TX 
Dallas-Fort Worth, TX 
Houston, TX 
San Antonio, TX 

 

## Zillow Offers vs OfferMarket

 

| Comparison | OfferMarket | Zillow Offers |
|:-----------------:|:---------------------------------------:|:---------------------------:|
| Service fee | 0% | 8.5% |
| Repairs | $0 (as is) | deducted from initial offer |
| House type | Any | Selective |
| Closing timeframe | 15 - 45 days | 7 - 90 days |
| Markets | Nationwide | Limited cities in 12 states |

 

## How much does Zillow Offers cost?

 

| Comparison | OfferMarket | Zillow Offers |
|:--------------:|:-----------:|:-------------:|
| Purchase price | $100,000 | $100,000 |
| Service fee | $0 | $8,500 |
| Repairs | $0 | $0 |
| Closing cots | $1,500* | $1,500* |
| Net proceeds | $98,500 | $90,000 |

 

## [Sell your house fast and competitively with OfferMarket](https://www.offermarket.us/sell?ref=blog-zillow-offers-competitors)

 

## Related comparisons:

 

- [Offerpad Competitors](https://www.offermarket.us/blog/offerpad-competitors)
- [Opendoor Competitors](https://www.offermarket.us/blog/opendoor-competitors)
- [RedfinNow Competitors](https://www.offermarket.us/blog/redfinnow-competitors)

Learn about Zillow Offers competitors and how the iBuying service compares to Opendoor, RedfinNow, Offerpad and OfferMarket.

Zillow Offers Competitors - Opendoor - RedfinNow - OfferMarket

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Zillow Offers Competitors - Real Estate Blogs - OfferMarket

Zillow Offers Competitors

Grow your real estate investing business with the most competitive DSCR loan product. OfferMarket provides DSCR rental loans, bridge loans, hard money, fix and flip, slow flip, and ground up construction loans.

Private Lending | OfferMarket

Private Lending

Requiring proof of funds from prospective buyers is a critical qualification step and filter to protect you from wasted time and unnecessary headaches. The last thing you want to be doing is wasting time with a buyer who is not qualified or even purposely misleading you.

 

### Valid proof of funds:

 

- Online banking screenshot
- Bank account statement
- Brokerage account screenshot
- Brokerage account statement
- Pre-approval or pre-qualification letter from lender
- Commitment letter from hard money lender or private lender

 

It is understandable for prospective buyers to resist sending proof of funds due to lack of trust. When verifying proof of funds, we encourage buyers to redact any information they deem sensitive. Requiring proof of funds will eliminate [wholesalers](https://www.offermarket.us/real-estate-glossary/wholesale-properties) who tell you they are cash buyers but they really don't have money or intention to buy your property.

 

### Additional Verification: Credit Report

 

To go one step further with buyer verification, in order to ensure a prospective buyer is qualified to purchase without delays or significant risk of breaching the contract, you can require buyers to provide a credit report. This is especially helpful if the buyer will be using a lender and their pre-approval or pre-qualification letter lacks credibility.

Requiring proof of funds from prospective buyers is an important qualification step and filter to protect you from wasted time and unnecessary headaches.

*Quote takes 1 minute, no credit pull

*1 quote from 40+ carriers

*New listings daily

What is Proof Of Funds in real estate?

Valid proof of funds:

* Takes 2 minutes, no credit pull