The FINANCIAL -- Home sellers in Houston will soon be able to use Zillow Offers to request a no-obligation cash offer from Zillow to buy their home.
Zillow Offers is a service for consumers to remove the hassle and uncertainty of selling a house. Zillow directly buys a seller's house, prepares it for showings, and quickly lists it for sale – so they don't have to. Agents from local Houston brokerages will represent Zillow in the transaction.
With the addition of Houston, Zillow Offers will be available for sellers in a total of seven markets nationwide. The program launched in Phoenix in April, and is also available in Las Vegas, Atlanta and Denver, with Charlotte and Raleigh, N.C launching this winter.
Timing the sale of a home with the purchase of a new one is a top concern for sellersi. According to Zillow's latest research, 61 percent of sellers are buying at the same time, adding stress and financial complexity to an already cumbersome process. With Zillow Offers, potential home sellers can request an offer and within a few business days receive a cash offer from Zillow to buy their home – an opportunity for sellers to take control and work on their own timeline.
In every market where Zillow Offers is available, Zillow works with local agents and brokers during every transaction. Zillow pays a commission to local real estate agents when it buys and sells each home. The program also gives brokerages and Premier Agents the opportunity 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.