We all know and have seen the name ZILLOW, synonymous with outdated property valuations. As much as some real estate professionals want, they have never seemed to just go away. Well now, the marketing geniuses at Zillow have unveiled a program for home sellers who want to build a new house. The company (Zillow) will buy their existing property and give them up to eight months to move out.
One of the advantages of the program, according to Zillow, is an extended closing period anywhere between seven days to eight months. That could prevent buyers from having to move twice or carry two mortgages simultaneously. No more worrying about if the new home will be done before or after one close on the existing home, or will you have to rent for a limited time and then move again. Buyers would also not have to worry about the traditional home sales process of showings, open houses, staging (I still can’t believe this is a thing).
Zillow has already set up with several home builders like M/I Homes, Pulte and others. And for those that don’t even know about the plan will have it promoted to them when they start looking at new home construction.
I believe they feel this may have the New Car buyer effect. Making it easier to get into a new home like buying a new car. Hey, honey we can get into a new home for the same price as our old clunker and its new. Here we go.