Transcript for How apps are helping people sell their homes virtually
We're going to turn to real estate going virtual. The new ways to sale it from your smarttone. We saw it first in "Usa today" and Rebecca Jarvis has it. Good morning, Rebecca. Reporter: Hey, George, good morning. Yeah, a lot of people are thinking about selling their homes right now but anyone who has sold a house knows it can be time consuming and costly and that's where this new technology comes in. You put a few details about your house on the internet, you upload some pictures and within a matter of a few days you should have an offer. When Brian Westerman decided to sell this Tennessee home in January he didn't hire an agent, host an open house or make any he uploaded a few pictures and information to open door an online real estate platform that flips homes and had an offer in less than 48 hours. When that first initial offer walked through, here's what we think repairs are and net proceeds. Reporter: It's a new trend called ibuyers or instant buyers. It bills itself as a way to skip the hard parts of selling your home. For those sellers looking for a fast and streamlined process. It's those customers really looking for certainty and simplicity that want to avoid the hassle of prepping their home, of dealing with showings of their homes, of going through the financing. Reporter: Open door has bought more than 90,000 homes since 2014 in 30 markets across the country and charge a transaction fee that varies but is currently around 5% of the sale price. We believe we can price these homes really competitively and make great offers to sellers. And we're willing to take that risk of what that resale is going to be. Reporter: Other companies like zillow and redfin offer similar services and while the pandemic may have helped spur on the practice of doing business virtually, experts say it may not be right for everyone. There's something to be said about working with a human who comes with a world of experience who can hold your hand through the process. Reporter: Open door purchased Westerman's house for $335,000 after an inspection. Then sold it last month for 348,000. We closed in two weeks and I walked to a title company and signed paperwork and the min was in my account literally three weeks later. Reporter: One way to gut check this, decide whether it's right for you, have a broker take a look at your house and let you know how much they think they could sell it for, also just do a little digging, what are houses in your area selling for? That way you will know whether the ibuyer amount is worth it to you. Makes a difference. Thanks very much.
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