Sellers in Atlanta, US can get full-cash offers on their homes in Zillow beginning this fall.
Zillow has been buying and selling homes with its own money, all while using agent customers of its Premier Agent program to represent the company in the transactions, and in the three months since Zillow have begun this process, has expanded the Zillow Instant Offers program into Atlanta, Georiga.
“Sellers love Zillow Offers because it’s a service that offers them more control and convenience — and less stress — when they sell their homes,” said Zillow brand president Jeremy Wacksman in a statement provided to Inman. “Zillow has delivered that to sellers in our first two markets, and we’re excited to expand into Atlanta.”
As of now, Zillow Instant Offers is present in the Phoenix, Arizona market and Las Vegas, Nevada market. Those looking to sell their homes can request an all-cash offer on their homes, putting it in direct competition with other similar "iBuyers" like Opendoor and previous business partner of Zillow's OfferPad by visiting the Zillow website. Knock, another startup in the same vein, is joining the competition for customers in the same markets.
Once a buyer accepts an offer, Zillow commissions minor renovations and repair, then relists the home through a local agent customer of its nationwide Premier Agent advertising and lead-generation program.
Though this might seem like a steal on Zillow's side since the Instant Offers service takes services fees and might offer less for the home than if the seller put it on the open market, the program and those similar is a good option for those looking to sell their home quickly.
Zillow found that 71% of sellers are looking to immediately buy a new home as well. This means that many of them would rather the certainty that their property will sell.
“Once we launch the program in the fall, we will be able to provide Atlanta–area homeowners with more choices, greater control, certainty about price and transparency when it comes to selling their home — whether they take a cash offer or sell traditionally with a Premier Agent,” Wacksman said.
Following in the footsteps of Instant Offers in Las Vegas and Phoenix, Zillow matches property sellers who choose not to accept the offer from Zillow with an agent who will help them sell on the open market.
Zillow will be partnering with Berkshire Hathaway HomeServices (BHHS) Georgia Properties and Better Homes and Gardens Real Estate Metro Brokers for the expansion into Atlanta.
“Consumers expect an experience tailored to their unique circumstances, especially when it’s as significant as selling their home,” said Craig McClelland, Vice President and COO of Better Homes and Gardens Real Estate Metro Brokers, in a statement.
“We’re excited to partner with Zillow on this innovative program to serve consumers in Atlanta.”
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