Collateral Analytics analyzed quarterly median purchase prices for single-family homes in Phoenix bought by iBuyers and traditional buyers. The comparison quantifies the costs to sellers of working with iBuyers – such as Offerpad and Opendoor, versus listing with a real estate professional. The study estimates that sellers end up paying between 13% to 15% more when working with iBuyers. The difference is attributable to iBuyers fees, the allowance iBuyers often request for repairs, and an additional 3% to 5% to cover the iBuyer’s liquidity risks and carrying costs. So iBuyers are no bargain.