Most people know Zillow as an online real estate database for people seeking to buy or rent a home. Fewer are familiar with Zillow Offers. However, the iBuying program, which has been available in 15 markets throughout the country, is now doing business in the three counties that make up South Florida. It has partnered with a local real estate firm.
Zillow Offers markets itself as an easy, stress-free way to sell your home. The way the program works is that people who live within one of the eligible ZIP codes can submit their home for possible sale. They include photos and answer some questions about the property. That information doesn't appear on the Zillow website. It's used to provide Zillow Offers with information about the home.
If Zillow Offers is willing to buy their home, they'll present the owner with a no-obligation offer. If the homeowner accepts it, they choose their closing date and moving date. Zillow takes care of getting the property ready to be placed on the market -- arranging for repairs, new carpeting and other improvements.
Homeowners can choose not to accept the offer and sell their home on their own with the help of a real estate agent.
The real estate agent who is working with Zillow Offers here in South Florida says she anticipates that most of the homes presented for an offer will be in the upper $200,000s to mid-$300,000s. However, they could also see homes in lower and higher price ranges.
The relative simplicity of selling a home this way will likely appeal to a lot of people who are anxious to get out of their home for one reason or another or who dread having prospective buyers traipsing through their home. The idea of selling your home quickly and with little fuss may appeal to people who are struggling to afford their home, particularly if the country falls into another recession.
The concept of iBuying may well become increasingly popular in the future. Currently, even seemingly simple real estate transactions involve a mountain of contracts and other documents. It never hurts to consult an experienced real estate attorney if you have questions or concerns when you're selling your Florida home.