Zillow Group, Inc. (NASDAQ:Z) (NASDAQ:ZG), which is transforming the way people buy, sell, rent and finance homes, today announced plans to bring Zillow Offers customers a more simple, integrated transaction experience through added services, managed in house.
Starting in January 2021, customers in Atlanta, Phoenix and Tucson who sell homes through Zillow Offers will work directly with trusted, licensed employees of Zillow Homes, a licensed brokerage entity. Zillow-owned homes in these markets will be listed for sale by licensed Zillow Homes employees. The company expects to expand these services to additional Zillow Offers markets later in 2021.
Zillow Homes is the company’s latest service to simplify and streamline Zillow Offers transactions to deliver a more integrated experience to customers. Zillow Offers customers can already use Zillow-affiliated mortgage, title and escrow services through Zillow Home Loans and Zillow Closing Services. Delivering all Zillow Offers-related transaction services through a single, coordinated platform is designed to help customers save time and reduce friction and uncertainty.
“We’re excited to add another important link in the Zillow Offers transaction chain to offer our customers greater choice and convenience when considering a move,” said Jeremy Wacksman, president of Zillow. “At Zillow, our mission is to give people the power to unlock life’s next chapter and we want to help them on their journey home through a range of services that meet their preferences — whether through Zillow Offers or through a trusted Zillow Premier Agent partner.”
Zillow Offers, which launched in 2018, is available in 25 markets, allowing customers to request an instant offer and sell directly to Zillow. By selling through Zillow Offers, customers are able to eliminate the time and resources required to prepare for and list a home, including skipping open houses and showings and minimizing in-person interaction. The service also provides certainty about price and the convenience of selecting a closing date.
As part of streamlining its operations and services, Zillow is also simplifying the way it collects listing data, moving from thousands of disparate data feeds to MLS Internet Data Exchange (IDX) feeds, which are offered directly through MLSs to their members. These direct listing feeds will help Zillow’s goal of offering its 200 million unique monthly visitors the most up-to-date and comprehensive listing information possible.
These additional services are expected to expand opportunities for buyers, sellers and agents. Zillow Homes will be the brokerage of record for Zillow Offers transactions. All Zillow-owned homes will be listed in MLSs, with commissions paid to agents representing buyers. The company will also continue to invest in and expand its Premier Agent business and partnerships, including connecting other interested buyers and sellers to Zillow Premier Agents, which is expected to be the preference of the majority of Zillow’s customers.
“We look forward to working more closely with our agent, industry and MLS partners to efficiently serve our mutual customers,” added Wacksman. “Together, we will push to keep the real estate industry moving forward, and adapt to changing consumer preferences and virtual technologies.”
Zillow, the most visited real estate website in the U.S., is building an on-demand real estate experience. Whether selling, buying, renting or financing, customers can turn to Zillow’s businesses to find and get into their next home with speed, certainty and ease.
In addition to for-sale and rental listings, Zillow Offers buys and sells homes directly in dozens of markets across the country, allowing sellers control over their timeline. Zillow Home Loans, our affiliate lender, provides our customers with an easy option to get pre-approved and secure financing for their next home purchase.
Millions of people visit Zillow Group sites every month to start their home search, and now they can rely on Zillow to help them finish it — with the same confidence, ease and empowerment they’ve come to expect from real estate’s most trusted brand.
Zillow is owned and operated by Zillow Group, Inc. (NASDAQ:Z and ZG).