iBuyer
nounEtymology Blend of instant + buyer. First attested in 2017.
1
Business, Real estate A company which offers to buy real estate (usually residential) quickly for cash, often without the level of due diligence exercised by traditional buyers and using computer algorithms to determine price.
- So iBuyers - these are companies like Opendoor, Redfin and Zillow. And they started doing this a few years ago - buying homes.2021 November 8, Stacey Vanek Smith, “iBuyers, Zillow, and 'the lemons problem'”, in The Indicator from Planet Money, via NPR:
- Related terms
- iBuying