The Real Deal New York

Zillow Offers expanding to Dallas

Everyone’s jumping on the iBuying bandwagon
December 22, 2018 08:00AM

Zillow’s Spencer Rascoff and the Dallas skyline

It’s sort of like the “Dallas Buyers Club,” but without Matthew McConaughey.

Zillow has tapped the Texas city as the latest market for its iBuyers line of business, Inman News reported.

Starting sometime next year, Dallas homeowners will be to use the Seattle-based tech giant’s Zillow Offers, which lets prospective sellers get an online quote for an all-cash offer in as few as 48 hours, Zillow announced Wednesday.

That brings Zillow Offers to nine markets across the country. It’s already in Phoenix, Las Vegas, Atlanta, Denver and Charlotte. Zillow plans to expand the service to Raleigh, Houston and Riverside, California, next year.

“In eight short months and in just five markets, Zillow Offers has helped thousands of consumers reduce the stress and uncertainty that typically go along with selling a home,” Zillow Brand President Jeremy Wacksman said in the announcement. “With today’s announcement, we’re poised to deliver this exciting service to sellers to help them sell their home with greater control, ease and on their timeline – in one of the nation’s most dynamic markets.”

Local brokers will act as Zillow’s sell-side agents when the company turns around to flip the homes.

Companies such as the SoftBank-backed Opendoor, Redfin and traditional brokerages like Keller Williams are all jumping in on the iBuying trend at breakneck pace.

Zillow, meanwhile, saw its stock plummet in November following a dismal earnings call. [Inman] – Rich Bockmann