Homeowners in Houston, Texas can now sell their home directly to Zillow. The online Real Estate giant said that starting today, it will start buying homes in Houston through its Zillow Offers direct buying 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.
The company started its home buying program last year in Phoenix and Las Vegas, then expanded it to Atlanta, Denver and Charlotte, North Carolina.
Zillow is also planning to begin buying houses in Raleigh, North Carolina, Riverside, California, Minneapolis, Orlando, Portland, Nashville, and Miami this year.
I haven’t taken the time to ponder whether I think this is good for the industry or not. It might help move more real estate faster, but it might also hurt the local real estate shops.
Let me know what you think.
Is Zillow buying and selling homes good for the real estate industry?
Select up to 1 answers below.
Comment from: Mark O. Langley Visitor
Zillow is only one of the companies that are buying homes and reselling them. Does it hurt the market? Actually it could go either way.
On one side it maybe takes a bunch of potential sellers off the market that would have probable not used a Realtor anyway. This means less for sale by owners out there.
On The other side we are competing with another brokerage that is like the King Kong of real estate lead generation. I am sure they will get there in home sells as well. We will just have to see.