SEATTLE, March 11, 2019 /PRNewswire/ -- Starting
today, home sellers in Riverside,
Calif. can use Zillow Offers to request a cash offer
from Zillow to buy their home. Riverside is the first California market where Zillow is buying and
selling homes.
Zillow Offers is designed to give home sellers more control and
certainty in the home-selling process. With the California launch of Zillow Offers today,
potential home sellers in the Riverside area will be able to request a free,
no-obligation cash offer from Zillow to buy their home. Once the
seller accepts the offer, they are able to pick a close date that
works best for them.
"Today, everyone expects an on-demand experience for all parts
of their lives, and from the early success of Zillow Offers over
the last year, this expectation in now a reality in real estate,"
said Zillow Brand President Jeremy
Wacksman. "Launching Zillow Offers today in Riverside, our first California market, is an important step in our
efforts to make this service available nationwide. Zillow Offers
delivers greater certainty, convenience and control in the home
selling process. We are thrilled that Riverside homeowners now have the ability to
decide on their terms and on their schedule, one of the largest
transactions of their lives, selling a home."
Timing the sale of a home with the purchase of a new one is a
top concern for sellersi, and according to Zillow's
latest research, 61 percent of sellers are buying a new home at the
same time, which adds significant stress and financial complexity
to the process. Zillow Offers is designed to accommodate all types
of sellers, whether they need to close quickly for a job across the
country or want to close on a longer timeline to search for their
dream home.
Riverside is the eighth market
where Zillow now directly buys homes, prepares them for showings
and quickly lists them for sale. Zillow Offers first launched in
Phoenix less than a year ago and
already receives a request for an offer every 5 minutes, which
translates into an estimated $100
million in demand value per day.
Zillow Offers is also available for sellers in Las Vegas, Atlanta, Denver, Charlotte, Raleigh and Houston. Zillow has already announced plans to
be active in Dallas, Miami, Minneapolis, Nashville, Orlando and Portland by the fall of 2019.
With Zillow Offers, home sellers will be able to sell their home
without having to prep for showings and host open houses, avoiding
the extra work and time associated with a traditional sale.
Buyers who purchase a Zillow-owned home will be able to pick a
move-in date of their choice and have the confidence of moving into
a home that's been fully inspected and move-in-ready. Additionally,
Zillow is piloting a new feature that will allow home shoppers the
ability to tour a Zillow-owned home whenever they want, with no
appointment needed.
In every market where Zillow Offers is available, Zillow works
with local agents and brokers on every transaction. Zillow pays a
commission to local real estate agents when it buys and sells each
home, and agents remain at the center of every transaction Zillow
is a part of. A local Riverside
broker will represent Zillow in each transaction.
The Zillow Offers program also gives local brokerages and
Premier Agents 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, will be connected with a local
brokerage or Premier Agent.
Zillow
Zillow® is the leading real estate and rental
marketplace dedicated to empowering consumers with data,
inspiration and knowledge around the place they call home, and
connecting them with great real estate professionals. Zillow serves
the full lifecycle of owning and living in a home: buying, selling,
renting, financing, remodeling and more. Zillow Offers provides
homeowners in some metropolitan areas with the opportunity to
receive offers to purchase their home from Zillow. When Zillow buys
a home, it will make necessary updates and list the home for resale
on the open market.
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 (NASDAQ:Z and ZG) and headquartered in
Seattle.
Zillow is a registered trademark of Zillow, Inc. Zillow Offers
is a trademark of Zillow, Inc.
i According to the 2018 Zillow Group Consumer Housing
Trends Report.
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SOURCE Zillow