Selling made easier: Zillow customers can now choose between a cash offer from Opendoor or selling with an agent
Zillow and Opendoor have partnered to streamline the home-selling process for homeowners in Atlanta and Raleigh. Homeowners can now request a cash offer from Opendoor while simultaneously receiving an estimate for selling on the open market through Zillow Premier Agents.
This initiative aims to simplify selling by offering multiple options in one place. Users can work with licensed advisors or explore options independently. The service is part of Zillow's broader aim to enhance its real estate offerings, including financing through Zillow Home Loans. This new feature will expand to more markets across the United States in the upcoming months.
- Partnership enhances homeowners' selling options by combining cash offers and market estimates.
- Expands Zillow's service offerings, potentially increasing user engagement and satisfaction.
- Launch in additional markets anticipated, which could drive revenue growth.
- None.
Zillow and Opendoor's partnership allows homeowners on Zillow to now compare multiple selling options up front — including a cash offer from Opendoor and an estimate to sell on the open market with a Zillow Premier Agent partner.
SEATTLE and SAN FRANCISCO, Feb. 15, 2023 /PRNewswire/ -- Zillow, Inc. (Nasdaq: Z) (Nasdaq: ZG) and Opendoor Technologies Inc. (Nasdaq: OPEN) announced today homeowners in Atlanta and Raleigh have a new way to explore multiple home-selling options on Zillow. Customers who start their selling journey with Zillow can now simultaneously request both a cash offer from Opendoor and an estimate of what their home could sell for on the open market with a local Zillow Premier Agent partner.
"A recent Zillow survey1 found nearly a third of Americans were surprised by the emotional toll of selling their home," said Matt Daimler, Zillow senior vice president of product. "We want to simplify the process by providing sellers all their home-selling options in one place. Customers can now easily get both a cash offer from Opendoor and a market-price estimate to sell on the open market with a local Zillow Premier Agent partner on Zillow– and then make the decision that works best for their situation."
Customers visiting Zillow can explore selling options themselves, or they can work with one of Zillow's licensed advisors to guide them through their options so they can confidently sell their current home and move into their next one. Once a seller explores each option and decides which is best for them - whether to receive a cash offer from Opendoor or sell on the open market with a Zillow Premier Agent partner - they can use the service as a standalone offering or in tandem with other Zillow home shopping services, such as financing through Zillow Home Loans, working with a Zillow Premier Agent partner to buy their next home, or, when it's available, closing with Zillow Closing Services. This new product experience will launch in additional markets nationwide in the coming months.
"Selling a home can be stressful and full of unknowns for many people, but selling to Opendoor is simple, certain, and on the homeowner's timeline," said Brian Tolkin, Opendoor vice president of product. "An Opendoor sale means no home showings, no home prep or making repairs and none of the hassle that can come with a traditional listing. With this new Opendoor experience on Zillow, consumers can explore their selling options and choose one that meets their needs."
In August 2022, Zillow and Opendoor announced a multi-year partnership, bringing together two category leaders to transform how people initiate their move. This new solution is one more of the buying and selling services available on Zillow's platform, including on-demand touring, financial and mortgage resources, as well as high-resolution listing photos, an interactive floor plan with embedded virtual tour, downloadable floor plans, and aerial photos from ShowingTime+ to make any listing stand out. It also expands the reach of Opendoor's e-commerce experience to millions of people who visit Zillow each month.
About Zillow Group
Zillow Group, Inc. (NASDAQ: Z and ZG) is reimagining real estate to make it easier to unlock life's next chapter. As the most visited real estate website in the United States, Zillow® and its affiliates offer customers an on-demand experience for selling, buying, renting, or financing with transparency and ease.
Zillow Group's affiliates and subsidiaries include Zillow®; Zillow Premier Agent®; Zillow Home Loans™; Zillow Closing Services™; Trulia®; Out East®; StreetEasy®; HotPads®; and ShowingTime+℠, which houses ShowingTime®, Bridge Interactive®, dotloop® and interactive floor plans. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org).
About Opendoor
Opendoor's mission is to power life's progress, one move at a time. Since 2014, Opendoor has provided people across the U.S. with a simple way to buy and sell a home. Opendoor currently operates in a growing number of markets nationwide.
For more information, please visit www.opendoor.com.
1 This survey was conducted online within the United States by The Harris Poll on behalf of Zillow from November 9-11, 2022 among 2,069 U.S. adults ages 18 and older, among whom 308 sold a home they own in the past 2 years. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 2.8 percentage points using a
(ZFIN)
View original content to download multimedia:https://www.prnewswire.com/news-releases/selling-made-easier-zillow-customers-can-now-choose-between-a-cash-offer-from-opendoor-or-selling-with-an-agent-301747220.html
SOURCE Zillow, Inc.
FAQ
What new options are available for homeowners on Zillow due to the partnership with Opendoor?
Which markets are initially included in the Zillow and Opendoor partnership?
How does the Zillow and Opendoor partnership aim to simplify the home-selling process?
What services does Zillow offer alongside the new home-selling options?
When will the new selling experience from Zillow and Opendoor be available in more markets?
