For the past several years, the real estate market has been a twisted game for homebuyers. The ability to secure the perfect home constantly eludes them, as they get crushed by institutional buyers with all-cash hammers, pricked by sellers wielding their power to overprice homes, and sucked into a pipeline of precarious financing.
Stefan Peterson | Credit: LinkedIn
However, an emerging business model is helping homebuyers win the game — similar to the effect of a single Super Mushroom that transforms Mario from a dwarf to a looming giant; power buyers are imbuing everyday buyers with the capital needed to crush the competition and seal the deal.
“What power buyers do is make the buyer effectively a cash buyer, or as some folks have pointed out, they turn any buyer into an iBuyer,” Zavvie co-founder and Chief Data Officer Stefan Peterson said of the model’s flagship cash backing and buy-before-you-sell offers. “I think that’s a neat way to look at it. Imagine it — I’m just humble Stephen Peterson out in the housing market trying to buy a house, but now I’ve got the muscle of an iBuyer to do it.”