"i" stands for institutional or investor.  These range from companies like Blackstone Group to zillow to Tarek from Flip or Flop.  It's nothing new, these programs have been around for a long time.  My family has been an "iBuyer" since the 80s.

There are two types, hard iBuyers and soft iBuyers.  The first type buys for cash and actually takes ownership.  They usually do some work, then sell the home.  (Zillow, Open Door, Offer Pad)

The second type act more like bridge loans.  They buy your next home for you, then they can help you sell your existing home.  Once it sells, you refi into your new home.  The iBuyer gets their money back, plus a fee. (Knock, Orchard, Homeward, Fly Home)

I appreciate the question.  I am putting together research for a video and appreciate all the information I can get, including any corrections to the above information.  iBuyers are much more varied than I had ever imagined.  It is hard to figure out what the fees are.

Except for very unique situations, I do not know why a seller would use an iBuyer.  It is a relationship where a trained professional is going up against an unrepresented seller.  Professionals that are in the business of buying low and selling high.  Most iBuyers say they buy close to market value.  Even if that is true, it does not take into account all the homes going above market value.  It makes much more sense to me for a seller to sell retail and not wholesale.  We all want to buy off market.  It makes sense for buyers, not sellers.

I'm confused by this question.  You ask us what ibuyers are, presumably because you don't know.  But then you say you are asking because it's an interesting topic and you want us to be aware of it, presumably because you are familiar with ibuyers and want us to be familiar with them as well.

Are you trying to figure out what an ibuyer is?  Or are you trying to enlighten all of us? 

If your goal is to enlighten us, perhaps a blog post would be a better tool.

Bob Crane has a handle on this one.

For people who are willing to take a discount price in exchange for quick hassle free sale Ibuyers will buy the home without it ever entering the market.

Some ibuyers are big corporations, some are individual investors and agents who have the cash to invest.

iBuyers are the people behind the signs I see tacked to telephone poles that say "We buy ugly houses." They have been around forever. The difference today is that they are backed by venture capital and that allows them to make a big splash.

By whatever name anyone wants to call them, iBuyers have been around for a long time ... they are not going anywhere. People looking for opportunities will always be present in any market.

I am aware of it, why aren't you? Maybe you want to discuss it but phrased your question oddly.

Corporate or investor backed cash purchases for desperate or ignorant sellers. As far as who are the top ibuyers it depends on what you mean by “top”. 

If you're trying to make us aware of this topic, it would be nice if you'd impart some information. 

I don't know much about them but they are definitely changing the industry and leaving buyers with much more liability of their own to deal with.

The answer from Google..

Great question and I am sure there will be many interesting answers.

The Real Estate market is always in some sort of change

If you want a deeper dive into this topic, I highly recommend attending one of these seminars. Closest one to you is Sacramento next month. You'll not only walk away with knowledge about iBuyers, but you'll learn how to sell against them when your Clients start having wandering eyes. https://www.c4connection.com/seminars

Appears to be another type of investor in real estate. Ryan Huggins - Thousand Oaks, CA and Raymond Henson, eXp Realty have educated answers on the subject.

I Buy, You Buy, we all Buy. 

One definition:

Instant BUYER- A real estate company that buys homes from sellers who sign up online. After receiving a description of the property, the iBuyer makes an offer to the seller within a couple days, which may even include the cost of moving.

Certainly competition for Realtors representing a Seller that does not want showings, to do fix up, maintain the home and just want to get out of "Dodge" and be done.

However, tor a Seller that wants top market price for their home using their professional Realtor will get them the most qualified buyers that are ready to submit contracts in a actual market price.

The IBuyer is going to buy the home below market in most cases.