Zillow Now Buying and Selling Homes in Portland

Starting today, sellers in Portland metro area can request a no-obligation cash offer from Zillow to buy their home

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Jul 15, 2019, 07:00 ET

PORTLAND, Ore., July 15, 2019 /PRNewswire/ -- Starting today, home sellers in the Portland, Oregon metro -- including Vancouver, Wash. -- can use Zillow Offers to request a cash offer from Zillow to buy their home.

Portland is the twelfth market where Zillow now directly buys homes - giving homeowners a new way to sell their homes that is convenient, transparent and gives them more control over the entire real estate transaction.

"Sellers across the country have shown that they are looking for an easier, less stressful way to sell their home," said Zillow Brand President Jeremy Wacksman. "We're excited to launch our first market in the Pacific Northwest today, giving potential home sellers in Portland and Vancouver the certainty and transparency they want when selling their home. Zillow Offers provides a seamless transaction experience, helping sellers move on to the next step in their life."

Selling a home is one of the most stressful experiences in modern life, second only to a relationship break-up^¹. Decluttering and readying their home for tours and open houses are often the most frustrating tasks for sellers, according to Zillow research. In fact, according to a recent Zillow survey, more than a third of home sellers said the process left them in tears, with millennials and parents far more likely to cry at some point during the sale process.

Zillow Offers is transforming the way people sell their homes across the country. With Zillow Offers, sellers don't need to worry about prepping their home for sale or hosting open houses -- avoiding much of the hassle and time and energy associated with a traditional sale.

Designed to accommodate all types of sellers, Zillow Offers can work for anyone, whether they need to close quickly for a job move across the country or they want to close on a longer timeline to search for their dream home. Zillow Offers gives sellers the flexibility to choose their close date within just a few days or up to 90 days after accepting their offer.

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 to purchase their next home. 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.

Buyers who purchase a Zillow-owned home have the confidence of moving into a home that's been professionally renovated, refreshed and is move-in ready.

Zillow Offers first launched in Phoenix last April and is currently available for home sellers in Las Vegas, Atlanta, Denver, Charlotte, Raleigh, Houston, Riverside, Dallas, Minneapolis and Orlando. Zillow also has plans to launch in Austin, Los Angeles, Miami, Nashville, Sacramento, San Antonio, San Diego and Tampa, by the end of the first quarter of 2020, bringing the total number of planned Zillow Offers markets to at least 20.

In each market where Zillow Offers is currently 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 a home, and agents remain at the center of every Zillow Offers transaction. A local Portland broker will represent Zillow in each transaction.

The Zillow Offers program also provides 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, may be connected with a local brokerage or Zillow Premier Agent to support their needs.

As of May, more than 100,000 homeowners across the country have requested a no-obligation cash offer from Zillow to buy their home - equal to a request for an offer every two minutes.

About Zillow

Zillow® is transforming how people buy, sell, rent and finance homes by creating seamless real estate transactions for today's on-demand consumer. Zillow is the leading real estate and rental marketplace because it is a trusted source for data, inspiration and knowledge among both consumers and real estate professionals.

Zillow's proprietary data, technology and industry partnerships put Zillow at nearly every major point of the home shopping experience, helping consumers search for and get into their new home faster. 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 eligible homes directly through Zillow; and Zillow Home Loans, Zillow's affiliated lender that provides an easy way to receive mortgage pre-approvals and financing. Zillow Premier Agent instantly connects buyers and sellers with its network of real estate professionals to help guide them through home shopping process. For renters, Zillow's innovations are streamlining the way people search, tour, apply and pay rent for leased properties.

In addition to Zillow.com, Zillow operates the most popular suite of mobile real estate apps, with more than two dozen apps across all major platforms. Launched in 2006, Zillow is owned and operated by Zillow Group, Inc. (NASDAQ:Z and ZG) and headquartered in Seattle.

Zillow and Zillow Offers are registered trademarks of Zillow, Inc.

^¹ According to a recent Zillow Survey.

SOURCE Zillow