Zillow now buying houses

3 Replies

Hi there everyone,

Zillow is now buying houses. I'm not sure what kinds of offers they are making, but the sales pitch is just like we as investors would make to motivated sellers. If motivated sellers (in Colorado!) even exist apart from the MLS. They made one seller an offer within 2 days of first contact & the sellers were out & away in a week. According to the video. I 'm tempted to submit an app but don't want to end up on their site by mistake.

Let me know what you think.

--Jane

@Jane S. the bigger they are the harder they fall.

I did a little reading about it and it seems that its a type of algorithm used to generate an offer. Considering how far off I've seen estimates on their websites, I would never trust an offer from them. However, some people may find it useful for there current situation. Time will tell. 

@Jane S. Wow, have to wonder what is going to happen to the market when zillow starts in. It is possible to find sellers with motivation that haven't done the work yet to put their home on the market the traditional way. 

Seniors who have been in their home 15-20 or more years are often ready to downsize or move into assistance.

Homeowners with Low Financial Stability Scores may be  ready to get out from under their mortgage.

The idea that they don't need to fix things up to "show" the house and pay a realtor commission is appealing to these groups. 

A list broker can help you to get a list optimized for your area so you can get started with a mailing.

Good luck

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