You really want Zillow to buy your house?

By
Real Estate Broker/Owner with Fierce Realty Corp RM424134

Zillow's new service-ibuyer has hit the market in Phoenix, Atlanta, and Denver. There are three commercials which play on the emotions of a seller.  Zillow claims a seller would be interested in selling their home for cash to a company they know and can trust -all while making a bubble beard and cooking unicorn pancakes. Very cute, but misleading.

As there are many educated consumers that will be able to understand this arrangement, at the same time there are many others that will not. Unfortunately, a lot of sellers will not hire a professional realtor or real estate attorney to help navigate them through the process. Real estate sales is not as easy as a click of a button. There is so much more involved when selling a home, over one hundred factors to consider and to weed through. 

As a professional, I will continue to advocate to protect the consumer against misinformation about the process of selling your home to an online company via a cash offer like Zillow, Opendoor, and Offerpad.

I have no animosity towards Zillow. I think they have a forward-thinking brand. I also knew this was coming, so I am prepared for the change in the real estate industry. This new service will not affect my business or my income as it will other’s. However, someone needs to give a heads up to the consumer.

Comments (4)

William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Anyone who falls for z's antic's will learn soon the ill's of the sale

Mar 06, 2019 05:57 PM
Deborah Ann Spence

Yes, I anticipate a lot of lawsuits

Mar 07, 2019 03:46 AM
Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

Yeah it is coming. Already FSBO's think they are the best thing since sliced bread.  Hope they stay out of our area a little longer. But know they will arrive soon.  Thanks for the Heads up.

Mar 06, 2019 06:59 PM
Deborah Ann Spence

FSBO's have always been around but this ioffer is a new service that we have to prepare ourselves for. I've been preaching for  2 years that the real estate industry will soon become like the travel industry. Online transactions without agents

Mar 07, 2019 03:48 AM
Dorte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton & rest of Maryland

Dear Deborah Ann,

Some years ago a colleague had an ad that said if he could not sell your home in 30 days, he would buy it himself. What he did not say until later was that it was at 75% of value. Could you wait a little longer to get 100%? Probably.

Mar 06, 2019 08:09 PM
Deborah Ann Spence

Yes, I have seen those ads here in my city as well. I know exactly what the would buy it for and it's probably at 65% of value here in Philadelphia.

Mar 07, 2019 03:49 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker

Great information, thanks for sharing.  I hope 2019 is a great year for you.

Mar 11, 2019 06:22 AM
Deborah Ann Spence

Thanks

Mar 11, 2019 07:18 AM

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