SEATTLE/ May 13, 2019 (STL.News)
Minneapolis-Saint Paul is the tenth market where Zillow now directly buys homes, prepares them for showings and quickly lists them for sale. Zillow Offers first launched in Phoenix just over a year ago, and in that time, more than 100,000 home sellers have requested a Zillow Offer.
Zillow Offers is designed to give home sellers more control and certainty. Timing the sale of a home with the purchase of a new one is a top concern for sellers, 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.
Home sellers in the Twin Cities will now be able to request a free, no-obligation cash offer from Zillow to buy their home. Once the seller accepts the offer, they can pick a close date that works best for them. 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.
“Zillow is rewiring real estate to create a seamless and integrated transaction, and today, we’re launching our amazing new service, Zillow Offers, for home sellers in the Twin Cities,” said Zillow Brand President Jeremy Wacksman. “It’s clear sellers are looking for a simpler, less-stressful way to sell their home, with over 100,000 homeowners having requested an offer from us since we launched a year ago. Zillow Offers gives homeowners an unprecedented level of control and convenience when selling, helping them move more seamlessly onto the next stage of their life.”
Zillow Offers allows home sellers the luxury of selling without having to prep the home for sale or host open houses, avoiding the extra cost, hassle 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 professionally repaired, refreshed and move-in ready.
Additionally, consumers using Zillow Offers – whether they are selling to or buying from Zillow – can experience an even simpler real estate transaction if they decide to get financing from Zillow’s affiliate lender, Zillow Home Loans. 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.
Home shoppers who want to purchase a Zillow-owned home may use Zillow Home Loans to seamlessly finance their home purchase, giving them a convenient way to get into their new home on their timetable, with less hassle and stress.
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 Zillow Offers transaction. A local Minneapolis-Saint Paul 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 Offers is also available for home sellers in Las Vegas, Atlanta, Denver, Charlotte, Raleigh, Houston, Riverside and Dallas. Zillow has already announced plans to launch in Austin, Los Angeles, Miami, Nashville, Orlando, Portland, Sacramento, San Antonio, San Diego and Tampa, bringing the total number of Zillow Offers markets to 20 by the end of Q1 2020.
About Zillow Group
Zillow Group, Inc. (NASDAQ: Z) (NASDAQ: ZG) houses one of the largest portfolios of real estate brands on mobile and the web that attract more than 181 million average monthly unique users during Q1 2019. Zillow Group is committed to leveraging its proprietary data, technology and innovations to make home buying, selling, financing and renting a seamless, on-demand experience for consumers. As its flagship brand, 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 homes directly through Zillow; and Zillow Home Loans, Zillow’s affiliated lender that provides an easy way to receive mortgage pre-approvals and financing. Other consumer brands include Trulia®, StreetEasy®, HotPads®, Naked Apartments®, RealEstate.com and Out East®. In addition, Zillow Group provides a comprehensive suite of marketing software and technology solutions to help real estate professionals maximize business opportunities and connect with millions of consumers. Zillow Group business brands for real estate, rental and mortgage professionals include Mortech®, dotloop®, Bridge Interactive® and New Home Feed®. The company is headquartered in Seattle.
Zillow, Mortech, Bridge Interactive, StreetEasy, HotPads, Out East and New Home Feed are registered trademarks of Zillow, Inc. Zillow Offers is a trademark of Zillow, Inc. Trulia is a registered trademark of Trulia, LLC. dotloop is a registered trademark of DotLoop, LLC. Naked Apartments is a registered trademark of Naked Apartments, LLC. Zillow Home Loans, LLC is an Equal Housing Lender; NMLS 10287, www.nmlsconsumeraccess.org.