Over the last few years, North America has seen the rise of private equity or investment management companies taking hold of real estate markets and buying out large amounts of properties, holding on to them and creating a monopoly of ownership over vast amounts of residential rental properties in certain areas. The actions of these specific large companies has caused a sentiment to be shared amongst many that point fingers and blame at these cash buyers for the state of the real estate industry, lumping together smaller, ethical companies in with these larger conglomerates.
Assumptions about the practices and outcomes caused by these companies are front of mind for many looking to rent, buy, or sell in the near future. But not all cash buyers are the same, and shouldn’t all be considered to be operating with the same goals. Off-market buyers, such as BC House Buyer, are small, family owned and operated businesses that started as a small operation that have grown, though never losing their authentic focus. While some investment firms purchase vast amounts of single family homes in hopes of creating a monopoly on ownership of rental properties in specific markets, BC House Buyer does not, and often renovates and re-sells or rents the homes to families or individuals who would otherwise be left out of the real estate market.
While this may be an understandable misconception, it creates a false image of all cash buyers, and thus deters homeowners from exploring options outside of the traditional MLS market. BC House Buyer, and other small businesses, operate with the goal of providing convenience, simplicity and a stress-free process to sellers–not to take control of single-family residences in hopes of accumulating wealth through monopolizing the market. Although these actors do exist, it’s important that sellers understand the distinction between honest, hard working teams, and large institutions that operate with an entirely separate set of goals in mind.
Diversity of Choice
Overall, it’s imperative that homeowners are able to explore their options without the misconceptions and mistruths that suggest all cash buyers are the same–it couldn’t be farther from the truth. If you’re looking for a team that has proven themselves through hard work, dedication to providing exceptional service to homeowners, and one that truly cares about the experiences of their sellers, give BC House Buyer a call today to chat about your property and to learn more about what we do.