Zillow to Expand Buying and Selling Homes in Houston

Zillow Offers coming to its first Texas city in early 2019

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Nov 05, 2018, 08:00 ET

SEATTLE, Nov. 5, 2018 /PRNewswire/ -- Home sellers in Houston 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. Agents from local Houston brokerages will represent Zillow in the transaction.

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

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.

"Zillow Offers launched just seven months ago, and we've already seen nearly 20,000 homeowners request an offer from Zillow to buy their home," said Zillow Brand President Jeremy Wacksman. "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."

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 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.

The partner brokers and Premier Agents participating in Houston will be announced when Zillow Offers launches in Houston 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.

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