In April 2018, Zillow launched its direct-to-consumer homebuying and selling platform Zillow Offers – then known as Zillow Instant Offers – in Phoenix, Arizona.
After adding markets at a pace of at least one a month since launch, the platform has returned to its birthplace, launching in Tucson on Monday, according to an announcement.
“There are so many stressful aspects of selling a home today, and we are giving sellers a different way to sell to avoid those,” Zillow President Jeremy Wacksman said in a statement. “With home shopping season just around the corner, Tucson homeowners can now shop confidently for a new home without worrying about how they will sell their current home.”
Tucson is the 23rd market for the program, in which consumers sell their homes directly to Zillow, which then undertakes light renovation to prep the home for market. The Seattle-based company plans to launch Zillow Offers in Cincinnati, Jacksonville and Oklahoma City in 2020.
Through Zillow Offers, homeowners can see if their property qualifies quickly by entering their address into the company’s website or app. If the home fits the company’s buy box – which is dependent on the specific market – the homeowner will receive a preliminary estimate within 48 hours.
Homeowners don’t need to commit until an in-person inspection is completed, then the seller can choose a closing date as soon as seven days from when the deal is agreed upon, or wait as long as 90 days, depending on their schedule.
Since it first launched in Phoenix, Zillow has worked to bolster ancillary services that accompany Zillow Offers, acquiring a mortgage company and testing title and escrow services.
A local brokerage represents Zillow on both sides of the transaction in each market where Zillow Offers is currently available. Zillow has long declined to disclose the commission it pays in each market, but has said it’s individually negotiated with each brokerage it works with.
A local brokerage represents Zillow on both sides of the transaction in each market where Zillow Offers is currently available. Zillow has long declined to disclose the commission it pays in each market, but has said it’s individually negotiated with each brokerage it works with.
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