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March 2019   Volume 45, Number 3      
 

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Zillow Offers to Expand into Five New Cities Later This Year

Zillow Offers will be available soon in five new cities: Miami, Fla., Minneapolis, Minn., Nashville, Tenn., Orlando, Fla., and Portland, Ore. Zillow expects the service to operate in these new markets by fall of this year.

Zillow Offers is a direct-to-consumer home buying and selling platform. Zillow first launched the service in Phoenix, Ariz. in April 2018. The company has since expanded it to several cities, including Las Vegas, Nev., Atlanta, Ga., Denver, Colo., Charlotte, N.C., and Raleigh, N.C.

“Since launching Zillow Offers just nine short months ago, we have been continually excited by the strong demand from homeowners throughout the country and are constantly getting asked when Zillow Offers will come to their market,” said Zillow Brand President, Jeremy Wacksman, in a statement.

As a part of the expansion, Zillow will recruit local real estate brokerages to participate in transactions in all of the markets in which it will operate. Zillow will also select specific agents who currently advertise via its Premier Agent program with the leads of sellers who do not participate in Zillow Offers.

As of the third quarter of 2018, Zillow Offers generated $11 million in revenue with Zillow purchasing 169 homes and selling 36.

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In this issue:

10 Best States for Real Estate Investors

Government Shutdown Impeded Some Real Estate Activity, Says NAR

Falling Mortgages Will Stabilize Builder Confidence Says NAHB

Credit Reporting Changes for 2019

Homebuyers, Homesellers Lack Understanding of Real Estate Agent’s Role

Millennials Are Not Buying Homes Due to Student Loan Debt

New Career Advancement Network Launched for Real Estate, Mortgage Professionals

The U.S. Real Estate Markets Where It Is Cheaper to Rent Than Buy

Zillow Offers to Expand into Five New Cities Later This Year

How to Stay Cool When Your Real Estate Business Heats Up

 


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