Investor · FL · Member since 2020 · 179 posts · 56 votes
When trying to purchase a home for sale and owned by Zillow , how is it best to do offer? Will they take lower than asking price since Zillow is trying to get rid of these homes asap?
Interesting stats this year, but the number of institutional investors buying up SFR's in the market right now is at an all time high. What this likely means is that there are two strategies, Retail - Selling the houses one by one for as much as they can get and two wholesale, selling off in tranches at a discount to institutional buyers, which might be connected based on some threshold.
What this means is that they are likely going to be willing to negotiate a little, but at a certain point they could wholesale it in a batch. In the event you get pushback or inflexibility where you were expecting more, that's likely what is playing out. Good luck and please let us know how this gets on!
As an agent who's represented clients who have bought Zillow-owned homes, I'd say it is hit or miss. Each home was represented by a "Zillow Agent" and some agents were willing to work with my clients and some agents were firm. I will say the property type, condition, and listing time also may play a factor. Always try to offer what you want and the worst they can say is "no"