With the rise of instant-buying real estate websites like OpenDoor.com and OfferPad.com along with the availability of real estate data and information, consumers rely less on real estate agents each year. To compete with these real estate websites, Zillow recently launched their new real estate program called Zillow Offers. Zillow is a leader in the online real estate databases that allows consumers to upload their listing and browse through thousands of homes on the market. Let’s take a look at Zillow Offers to see what they offer.
In this article, I will review the current markets Zillow Offers is available in, the markets it will become available in, and the description and benefits of Zillow Offers.
1. Currently Available in Markets
Zillow Offers has become available in the San Diego area this month. Before launching in San Diego, dating back to its launch in April 2018, Zillow Offers has become available in 15 cities: Atlanta, Charlotte, Colorado Springs, Denver, Dallas-Forth Worth, Fort Collins, Houston, Las Vegas, Minneapolis, Nashville, Orlando, Portland, Phoenix, Raleigh, and Riverside.
2. Coming Soon Markets
According to a HousingWire.com article, “More than 170,000 homeowners have requested an offer from Zillow Offers…70,000 of those requests happened in Q2 alone – 94% spike from the previous quarter.” That means Zillow Offers is successfully growing its customer base and is ready to expand into new markets. Besides San Diego, Zillow Offers will enter new markets: Austin, Cincinnati, Jacksonville, Los Angeles, Miami, Oklahoma City, Sacramento, San Antonio, Tampa, and Tucson.
3. What is Zillow Offers?
Zillow Offers “takes the stress out of selling your home” by purchasing homes directly from the seller - removing the agent from the selling process completely. The target audience for Zillow Offers are home sellers that are looking to sell quickly and/or do not have enough money to pay for repairs. Since Zillow Offers covers cleaning and repair costs, their service is available for 7.5% of the selling price – or 1% point higher than the current standard’s rate.
Benefits for Sellers Using Zillow Offers:
- No cleaning - covers cleaning
- No preparation – covers repair costs
- Pays the market rate
- Guarantees an offer with 90 days to accept
- Gives no obligation prices
For now, consumers still rely on real estate agents to guide them through their real estate journey. To inform them about local housing laws, regulations, negotiation skills, market knowledge, and more.