According to the Houston Chronicle, the Seattle-based real estate listing site Zillow is launching a service called Zillow Offers early next year in Houston. Zillow will be making cash offers on homes from qualified sellers. Assuming the sale closes, Zillow will then list the house for sale. "Consumers desire a more seamless experience and the ability to sell their home on their own timeline -- something Zillow Offers can provide," said Zillow Brand President Jeremy Wacksman.
"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 will compete with companies like Open Dorr which makes quick offers on homes in the $100,000 to $500,000 range.
The company has already launched its Offers program in Phoenix, Las Vegas, Atlanta and Denver. Charlotte and Raleigh, N.C. are launching later this year. Zillow said its new service aims to ease the complexity of when a homeowner tries to time the sale of their home with the purchase of a new one. It will pay commissions to local real estate agents when it buys and sells each home.Read More