Zillow expands direct-homebuying program

by Ryan Smith05 Nov 2018

Zillow is expanding its direct-homebuying program to another city. The company has announced that its Zillow Offers program, which allows home sellers to request a no-obligation cash offer from Zillow, is expanding to Houston.

In the Zillow Offers program, Zillow directly buys a home seller’s house, prepares it for showings, and lists it for sale. Agents from local brokerages represent Zillow in the transaction.

Zillow Offers launched over this year. With the addition of Houston, the program will be available in seven markets across the country. Zillow Offers launched in Phoenix in April and is also available in Las Vegas, Atlanta and Denver. It will launch in Charlotte and Raleigh, N.C., this winter.

“Zillow Offers launched just seven months ago, and we’ve already seen nearly 20,000 homeowners request an offer from Zillow to buy their homes,” said Jeremy Wacksman, Zillow brand president. “Consumers desire a more seamless experience and the ability to sell their home on their own timeline – something Zillow Offers can provide. We’re excited to start working with Houston sellers, giving them more flexibility and certainty in one of the greatest financial transactions of their life.”

Zillow also recently acquired Kansas-based Mortgage Lenders of America (MLOA), and said the acquisition went hand in hand with its Zillow Offers program.

“Getting a mortgage is often the hardest, most complicated part of buying a home,” said Greg Schwartz, Zillow president of media and marketplaces. “We acquired MLOA, which we will rebrand in 2019, so we could streamline, shorten and simplify the homebuying process for consumers who purchase homes through Zillow Offers.”

Poll

Should CFPB have more supervision over credit agencies?