New tool compares instant bids for homes from Redfin, Zillow and other iBuyers

Local information publishing platform zavvie has entered 21 metro markets with its new Offer Optimizer tool
March 24, 2019 03:00PM

(Credit: iStock)

Zavvie, a local information publishing platform, is launching a tool called Offer Optimizer, which allows homeowners to compare offers for their properties from so-called iBuyers.

Offer Optimizer compares offers from Offerpad, Opendoor, Redfin Now and Zillow Offers, which are known as iBuyers, or instant home buyers, because they provide instant all-cash offers for homes based on proprietary valuation models.

Companies operating as iBuyers acquire homes in all-cash transactions that close quickly, and they often perform minor repairs and renovations on homes before reselling them.

“Zavvie puts instant offers on overdrive with Offer Optimizer, ensuring that sellers squeeze every last dollar out of their home sale,” Hornung, chief executive officer of zavvie, said in a prepared statement.

Hornung also is the founder and CEO of 8z Real Estate, a Denver-area brokerage firm that developed zavvie and spun it off as a separate company.

Local brokerages increasingly are embracing national iBuyers by offering their services to clients.

Local partners for the launch of Offer Optimizer include 8z Real Estate, Robert Slack in Orlando and Tampa, BRIX Real Estate in Minneapolis-St. Paul, Path and Frost Real Estate in Atlanta, Better Homes and Gardens Real Estate in Dallas-Fort Worth, and Summa Realty in Portland.

Offer Optimizer is available in 21 metropolitan markets including Tucson, Tampa, San Antonio, Sacramento, Riverside, Raleigh-Durham, Portland, Phoenix, Orlando, Nashville, Minneapolis-St. Paul, Los Angeles, Las Vegas, Jacksonville, Houston, Denver, Dallas-Fort Worth, Charlotte, Birmingham, Austin and Atlanta.

Offer Optimizer isn’t the only tool that aggregates iBuyer offers for homes. Last month, agent referral service Homelight started offering a new tool that allows agents to present offers for their clients’ homes from iBuyers. [Inman]Mike Seemuth