Zillow’s Instant Offers

Zillow’s Instant Offers

Receive multiple no-obligation offers from investors, based on your home details and comparative sales.

It is not in Ohio, yet, but let’s talk about the ramifications of this new proposition from Zillow.  Yeah, yeah, I know what you are thinking – I am going to be against it since I am a Realtor and everything Zillow is evil.  Look, the way of the world is changing.  Catering to our consumer’s needs is where things are going.  Zillow is perceived to be more nimble and able to flush out ideas.  Yes, Realtors are going to still be here; however, we need to become better advocates for our clients than we have in the past.

Pros (according to Zillow’s Website):

  1.  Receive offers immediately.
  2. Set your own closing date.
  3. Free professional opinion of value.

Cons (according to Inman News):

  1. The investor is going to win, in this case OpenDoor.  They are going to buy the property at rock bottom prices and then flip them.
  2. It is projected that OpenDoor will make 10% more on 20% of their resales.
  3. Consumers are charged on average 8% to 9% in fees.

Yeah, soooo much better for the consumer.  Don’t let Zillow trick you into thinking that they are for the consumer’s benefit.  They are a publicly traded company that desperately needs to show a profit.  Seller beware in this ever changing environment.