Zillow Offers Coming to Riverside in Early 2019; Home Sellers Can Now Request Cash Offers from Zillow

Riverside is Zillow Offers' first California market

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Dec 11, 2018, 08:00 ET

SEATTLE, Dec. 11, 2018 /PRNewswire/ -- Home sellers in Riverside, California will soon be able to use Zillow Offers to request a no-obligation cash offer from Zillow to buy their home.

Zillow Offers is a service for consumers to remove the hassle and uncertainty of selling a house. Zillow directly buys a seller's house, prepares it for showings, and quickly lists it for sale – so they don't have to, and all on the seller's timetable. Agents from local Riverside brokerages will represent Zillow in the transaction.

With the addition of Riverside, Zillow Offers will be available for sellers in a total of eight markets nationwide. The program launched in Phoenix in April, and is also available in Las Vegas, Atlanta and Denver. Zillow Offers will be launching in Charlotte, N.C. this year, and in Raleigh, N.C. and Houston this winter.

"Zillow Offers launched in April, and we've already helped thousands of home sellers through one of the most stressful times of their life – selling their home," said Zillow Brand President Jeremy Wacksman. "Many homeowners are trying to time the sale of their current home with the purchase of a new one, and with rising inventory, this process can become even more uncertain. Zillow Offers alleviates the stress and complexity that typically go along with selling a home, and we can't wait to begin helping Riverside homeowners early next year."

Timing the sale of a home with the purchase of a new one is a top concern for sellersⁱ. According to Zillow's latest research, 61 percent of sellers are buying at the same time, adding stress and financial complexity to an already cumbersome process. With Zillow Offers, potential home sellers can request an offer and within a few business days receive a cash offer from Zillow to buy their home – an opportunity for sellers to take control and work on their own timeline.

In every market where Zillow Offers is available, Zillow works with local agents and brokers during every transaction. Zillow pays a commission to local real estate agents when it buys and sells each home.

The program also gives local brokerages and Premier Agents the opportunity to acquire new listings by connecting them with motivated sellers who have taken a direct action to sell their home. Consumers who request a Zillow Offer, but instead decide to sell their home traditionally with an agent or do not receive a Zillow Offer, will be connected to a local brokerage or Premier Agent.

Zillow will be represented by local agents and brokerages when Zillow Offers launches in Riverside early next year.

Zillow

Zillow® is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the place they call home, and connecting them with great real estate professionals. Zillow serves the full lifecycle of owning and living in a home: buying, selling, renting, financing, remodeling and more. Zillow Offers provides homeowners in some metropolitan areas with the opportunity to receive offers to purchase their home from Zillow. When Zillow buys a home, it will make necessary updates and list the home for resale on the open market.

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 (NASDAQ:Z and ZG) and headquartered in Seattle.

Zillow is a registered trademark of Zillow, Inc. Zillow Offers is a trademark of Zillow, Inc.

ⁱ According to the 2018 Zillow Group Consumer Housing Trends Report.

SOURCE Zillow, Inc.