Real estate technology provider zavvie recently announced it is launching the first nationwide “Verified Buyer Map.”
“There is a misconception that sophisticated, consumer-friendly home-purchasing firms making instant cash offers are only available in a few markets around the country,” said Lane Hornung, CEO and co-founder of zavvie. “The fact is that cash offers are available practically everywhere.”
Zavvie’s Verified Buyer” map reportedly shows the availability of new selling options and alternatives to listing on the open market. The map is available at zavvie.com and charts nearly two dozen iBuyer, bridge and institutional home purchasing firms in 132 markets across the nation.
Zavvie has partnered with leading brokerages in 40 different states to create the map. According to Hornung, zavvie initially crafted the map as “an internal tool to keep track of where all the various buyers we work with are operating.”
“By putting the Verified Buyer map on our website, we aim to bring attention to the emergence of the new types of institutional buyers offering solutions that can be a good fit for a wide range of home sellers,” Hornung explained.
The Verified Buyers on the map include:
– Bridge buyers that enable sellers to buy a new home before selling their current house on the open market
– National retail iBuyers
– Institutional buyers specializing in the purchase of properties needing renovation
All buyers on the map have been individually verified by zavvie as reliable options for home sellers seeking alternatives to listing on the open market.
Hornung notes that the rapid growth of new buyers as an alternative to traditional listing was the impetus for creating the Verified Buyer map. For example, the “buy before you sell” bridge programs expanded significantly in 2020 and are now available in all 50 states, the company said. iBuyers are currently operating in 34 market areas, and other institutional buyers cover practically every major real estate market across the country.
Hornung added, “We believe sellers should be able to access all their options easily; and that it is the agent’s role to represent the seller, regardless of which form of selling they choose. That’s why we call zavvie an ‘All Options’ platform.”
zavvie notes that demand for its All Options platform isn’t limited to the most active iBuyer markets such as Phoenix, Raleigh and Atlanta. In fact, zavvie has received the most interest in the past several months from Ohio brokerages serving markets where iBuyers aren’t present and haven’t announced plans to enter.
“What that tells us is that sellers in those markets are asking their agents about the new ways of selling,” said Hornung, “and brokerages are transmitting that demand signal to us. Brokerages are using our platform to turn homeowners into sellers.”
“We are adding new Verified Buyers quickly in response to demand from our partner brokerages,” Hornung said. “We’re certainly interested in connecting with other entities that are actively purchasing properties, even in small markets.”
For more information, please visit www.zavvie.com.