Will Zillow Offer Be The New Route Home Sellers Choose?

By
Real Estate Broker/Owner with Ivy Vine Investments

 

real estate sign that says make an offer

 

What Is Zillow Offer?

 

As I was sitting on the couch yesterday I saw an interesting commercial from real estate giant Zillow. The commercial informed that they were now in the business of buying homes.  If a homeowner is looking to sell their home in a specific market they can contact Zillow and possibly receive a market value offer for their house.

This sounds like a great new venture for them and something a lot of homeowners may explore.  As of now, the Zillow offer program isn't available everywhere.  Below I'll list the cities that they are making offers in.

 

  • Atlanta, GA
  • Austin, TX
  • Charlotte, NC
  • Cincinnati, OH
  • Colorado Springs, CO
  • Dallas-Fort Worth, TX
  • Denver, CO
  • Fort Collins, CO
  • Houston, TX
  • Jacksonville, FL
  • Las Vegas, NV
  • Los Angeles, CA
  • Miami, FL
  • Minneapolis-St Paul, MN
  • Nashville, TN
  • Orlando, FL
  • Phoenix, AZ
  • Portland, OR
  • Raleigh, NC
  • Riverside, CA
  • Sacramento, CA
  • San Antonio, TX
  • San Diego, CA
  • Tampa, FL
  • Tucson, AZ

 

 

 

signs that says what do you think

 

What Do You Think?

 

Will other real estate companies like Realtor, Trulia or Redfin also enter into the market of buying houses?  How will this affect real estate agents or real estate wholesalers?  I would love to hear your opinion on the topic.  I know there are a lot of people like me who are curious about this.

 

 

 

Comments (5)

Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

This really easy to explain - Zillow wants 1/3 of every commission in the Country !!!
The Zestimate was their primary Lead Gen Tool
Now the I-Buyer Program has Sellers willingly turning over their Cell # and email address .
Their I-Buyer program may not even be for profit !
Once a Seller turns down their offer they switch them to a Premier Agent for 30%+
They tell Buyers they could get a great deal Directly from Big Z ( no need to work w/ Agent)
If they have nothing that interest the Buyer, no problem they turn it over to a Premier Agent for 30%+ .

Feb 28, 2021 11:57 AM
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

Z is opening offices and I would guess they have offices in the Cities you listed above now. What a great way to get your foot in the door for a listing presentation. Just like the agent who says "If I don't sell your house I'll buy it" In most cases it is probably bait & switch.

Feb 28, 2021 03:48 PM
Winston Rowe & Associates CRE Investing Financing
Winston Rowe & Associates - Saint Clair Shores, MI
No Upfront Fee Commercial Loans

Zillow is a great source for sales leads, however listing though them is pricey and not always worth it. There are a lot of other great platforms out there.

Feb 28, 2021 04:32 PM
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Chris.

We have a member of our MLS that is associated with Z.  Therefore, according to regulations, I'll keep my thought to myself

Mar 01, 2021 12:28 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Chris,

There is always someone or many someones who will swing Zillow's way...Not everyone shops at the established places...I would not recommend it, nevetheless.  One has to also understand that Zillow's stock is not so hotsy totsy, and investors are not that happy.  So they will try anything regardless of success.  

Everyone wants instant results...A

Mar 01, 2021 08:24 AM