In 2020, Zillow Offers will be available in 26 markets nationwide
SEATTLE, Aug. 7, 2019 /PRNewswire/ -- Home sellers in Cincinnati, Jacksonville, Fla., Oklahoma City and Tucson, Ariz. will soon be able to use Zillow Offers™ to request a no-obligation cash offer from Zillow to buy their home.
Launched last year, Zillow Offers lets people sell their home directly to Zillow, avoiding the hassle and uncertainty that often comes with a traditional home sale. With Zillow Offers, sellers don't need to worry about prepping their home for sale or hosting open houses, and sellers have the flexibility to choose their close date within just a few days, or up to 90 days after accepting their offer. Agents from local brokerages represent Zillow in the transaction.
Demand for Zillow Offers continues to grow. More than 170,000 homeowners have requested an offer from Zillow to buy their home since the program launched last April; 70,000 of those requests were in the second quarter of 2019.
"It's been incredible to watch demand for Zillow Offers continue to exceed our expectations," said Zillow Brand President Jeremy Wacksman. "Homeowners in these four additional cities will soon have another option when it comes to selling their home -- with a cash offer from Zillow, they can sell with more control and certainty, on their timeline. It's all part of the seamless, tech-enabled experience that we're building for home buyers and sellers across the country."
Zillow Offers is currently available in 15 markets across the country and, with the addition of the four markets announced today, has plans to enter 26 by the middle of next year.
The service first launched in Phoenix in April 2018 and is also available for home sellers in Las Vegas, Atlanta, Denver, Charlotte and Raleigh, NC, Houston, Riverside, Calif., Dallas, Minneapolis, Orlando, Fla., Portland, Ore., Colorado Springs and Fort Collins, Colo., and Nashville, Tenn. In addition to the new markets announced today, Zillow previously announced plans to launch in Austin, Texas, Los Angeles, Miami, Sacramento, Calif., San Antonio, San Diego and Tampa, Fla.
Homeowners using Zillow Offers to sell their home can apply to get pre-approved for a mortgage through Zillow Home Loans, giving them the certainty to be able to sell their existing home and shop for a new home simultaneously.
In each Zillow Offers market, Zillow is represented by local real estate agents and brokers during every transaction. Zillow pays a commission to local agents when it buys and sells each home.
The Zillow Offers program also provides local brokerages and agent partners the opportunity to acquire new for-sale listings by connecting them with motivated sellers who have taken a direct action to sell their home. Sellers who request a Zillow Offer, but decide to instead sell their house traditionally with an agent or do not receive a Zillow Offer, may be connected with a local brokerage or Zillow Premier Agent to support their needs.
Zillow® is transforming how people buy, sell, rent and finance homes by creating seamless real estate transactions for today's on-demand consumer. Zillow is the leading real estate and rental marketplace because it is a trusted source for data, inspiration and knowledge among both consumers and real estate professionals.
Zillow's proprietary data, technology and industry partnerships put Zillow at nearly every major point of the home shopping experience, helping consumers search for and get into their new home faster. Zillow now offers a fully integrated home shopping experience that includes access to for sale and rental listings, Zillow Offers®, which provides a new, hassle-free way to buy and sell eligible homes directly through Zillow; and Zillow Home Loans, Zillow's affiliated lender that provides an easy way to receive mortgage pre-approvals and financing. Zillow Premier Agent instantly connects buyers and sellers with its network of real estate professionals to help guide them through home shopping process. For renters, Zillow's innovations are streamlining the way people search, tour, apply and pay rent for leased properties.
In addition to Zillow.com, Zillow operates the most popular suite of mobile real estate apps, with more than two dozen apps across all major platforms. Launched in 2006, Zillow is owned and operated by Zillow Group, Inc. (NASDAQ:Z and ZG) and headquartered in Seattle.
Zillow and Zillow Offers are registered trademarks of Zillow, Inc.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks and uncertainties, including, without limitation, statements regarding our operational plans for Zillow Offers in 2020. Differences in Zillow Group's actual results from those described in these forward-looking statements may result from actions taken by Zillow Group as well as from risks and uncertainties beyond Zillow Group's control. For more information about potential factors that could affect Zillow Group's business and financial results, please review the "Risk Factors" described in Zillow Group's Annual Report on Form 10-K for the year ended December 31, 2018 filed with the Securities and Exchange Commission, or SEC, and in Zillow Group's other filings with the SEC.
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