For the second time in less than a month, Zillow is expanding its direct homebuying program.
Last month, the online real estate giant announced that it is planning to bring its direct buyer program to Atlanta.
Now, the company is expanding again, announcing Wednesday that it is also planning to begin directly buying houses from sellers in the Denver area.
The move into Denver is an expansion of Zillow’s direct buying program, Zillow Offers, which the company launched earlier this year.
Initially, Zillow was testing the direct buying program in Las Vegas and Phoenix. Denver will be the company’s fourth market for the direct buying initiative.
Starting later in the year, home sellers in Denver will be able to compare an agent’s comparative market analysis to offers directly from Zillow or from other investors. Then, if a seller chooses, they can sell the house directly to Zillow.
Zillow then makes the “necessary repairs and updates” and lists the home “as quickly as possible.”
As with its previous markets, what makes Zillow’s direct buyer program different from other companies that offer similar services is that it does not remove real estate agents from of the process.
In fact, Zillow partners with local brokerages, which allows those agencies to acquire new seller lead opportunities as part of Zillow Offers.
According to the company, homeowners who request a Zillow Offer, but choose to sell their house the “traditional” way with an agent, or do not receive a Zillow Offer for their home, will be connected with a local brokerage or Premier Agent.
Zillow also pays a commission to agents when it buys and sells a home, and agents “remain at the center of every transaction Zillow is a part of,” Zillow said.
In Denver, Zillow will be partnering with 8z Real Estate, Berkshire Hathaway HomeServices Innovative Real Estate, and RE/MAX Alliance.
“Zillow Offers is designed to help address one of the biggest pain points for home sellers – the uncertainty and inconvenience of how and when they can sell their house,” said Zillow Brand President Jeremy Wacksman.
“With the expansion into our fourth market, we’ll provide a service to Denver-area home sellers that is transparent and gives them more choices,” Wacksman added. “Whether they request a no-obligation cash offer from us, or are connected to a local Premier Agent should they decide to sell traditionally, consumers get more control and face less stress thanks to Zillow Offers.”
