Zillow to begin buying, selling homes in Dallas

Mortgage

Zillow announced Wednesday that it will soon begin buying and selling homes in Dallas through its Zillow Offers program.

Zillow Offers allows homeowners to request a no-obligation cash offer from Zillow to buy their home. If they accept it, Zillow directly buys a seller’s house, prepares it for showings and quickly lists it for sale. Agent from the Houston area will represent Zillow in the transaction.

This new expansion marks the ninth market in which Zillow’s program is available. The program launched in Phoenix in April, and is also available in Las Vegas, Atlanta, Denver and Charlotte, South Carolina.

In addition to Dallas, Zillow Offers will be launching in Raleigh, North Carolina; Houston and Riverside, California in 2019.

“In eight short months and in just five markets, Zillow Offers has helped thousands of consumers reduce the stress and uncertainty that typically go along with selling a home,” Zillow Group President Jeremy Wacksman said. “With today’s announcement, we’re poised to deliver this exciting service to sellers to help them sell their home with greater control, ease and on their timeline – in one of the nation’s most dynamic markets.”

Zillow’s new program does not seem to compete with local real estate agents. Through Zillow Offers, the company works with local real estate agents and brokers during every transaction. Zillow pays a commission to local agents when it buys and sells each home.

It also uses Zillow Offers to promote its Premier Agent, which allows real estate agents to acquire new listings by connecting them with motivated sellers who have taken a direct action to sell their home.

Consumers who request a Zillow Offer, but instead decide to sell their home traditionally with an agent or do not receive a Zillow Offer, will be connected to a local brokerage or Premier Agent. The partner brokers and Premier Agents participating in Houston will be announced when Zillow Offers launches in Houston early next year.

The online real estate giant also recently got into the mortgage business with its acquisition of Mortgage Lenders of America.

Leave a Reply