By the Kent Redding Group
AUSTIN, TX. – Zillow recently shook up the Real Estate world once again by launching their new Instant Offers Program which will give homeowners the opportunities to receive cash offers from investors along with a comparable market analysis from Zillow Premier Agents.
How Does Zillow Instant Offers Work?
Once a seller receives an instant offer they can accept the investors offer without using an agent to complete the transaction.
Zillow does encourage homeowners to use an agent thought, especially since the home selling process also comes with questions or concerns that many homeowners will be unable to answer and having a Realtor® working for you makes the process of selling a home easier.
As of May 30th, 2017, Zillow’s Instant Offers is only available in Orlando, Florida and Las Vegas but should Zillow see that there’s sufficient demand for this service in these test markets we could see Instant Offers rolled out nationwide.
Will Instant Offers Change the Real Estate Industry?
The BIG question that most people have about instant offers is will this new service change the Real Estate industry like Zillow’s Zestimate has? The answer to this question is both yes, and no.
Yes, we can expect many homeowners to choose Instant Offers when selling their homes but as with the adaptation of new technology like Uber or Opendoor it could take up to 5 years until Zillow’s Instant Offers has a significant impact on the Real Estate industry.
IF Zillow’s Instant Offers proves to be successful it will most likely appeal just to investors and homeowners who are intent on receiving a cash offer for their homes while the other 70% to 75% of the Real Estate market that relies on financing to buy a home will continue to use a Realtor® as before.
It’s true that most homeowners are looking for faster and easier ways to sell homes but over the next 5 years the role of the Realtor® in the transaction won’t be diminished especially if Realtors® continue to make themselves invaluable to their clients while companies like Zillow continue to come up with new products like Instant Offers which also appease their investors.
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