Zillow Test Launches “Instant Offers” In Two Cities

As anyone who has ever been part of a real estate transaction can attest, it is a long, friction-filled, paperwork-intensive process that seems custom-designed to frustrate everyone involved.

Zillow thinks it can help with that via the launch of a new digital service called Instant Offers.  Currently being tested in Las Vegas and Orlando (as Florida and Nevada are both well known for their reasonable and responsible real estate markets), Instant Offers is advertised as a way to shortcut through the headaches to a faster sale.

Using Instant Offer, homeowners can collect offers directly from investors and see a comparative market analysis (CMA) from a local real estate agent. To get rolling, the homeowner creates a basic information profile about their house (number of bedrooms, amount of square footage, etc) and uploads some photos. Real estate investors can make offers directly — and the CMA will include an overview of fees associated with every sales option.

The seller does not have to accept any offer — but according to Zillow, the chance to short circuit some of the less pleasant parts of selling one’s home might be desirable to some sellers.

“Sellers are looking for more solutions when selling their homes,” Zillow Group chief marketing officer Jeremy Wacksman said in the release. “For some, selling in a short time frame with certainty around the closing date is attractive, or even necessary.”

Wacksman further noted that the platform is about fulfilling consumer need.

“Across many industries, we’re seeing a rise of technology-assisted transactions, and many consumers desire this type of innovation in real estate. We want to provide options for convenience, while providing home sellers with useful information to help them make an informed financial decision. That’s why we provide them with any offers submitted by investors, as well as an estimate from a real estate agent who can help them better understand what that home may sell for on the open market.”