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Zillow Offers Competitors
Zillow Offers competitors include:
- Opendoor
- Offerpad
- RedfinNow
- OfferMarket
| Service | Type | Offer Competitiveness |
|---|---|---|
| Zillow Offers | iBuyer | Low |
| Opendoor | iBuyer | Low |
| Offerpad | iBuyer | Low |
| RedfinNow | iBuyer | Low |
| OfferMarket | Marketplace | High |
What is Zillow Offers?
Zillow Offers is an "iBuyer" (short for "instant buyer") of single family homes. iBuying is a new home sales model where you receive a cash offer to sell your home fast. While there is an incredible convenience factor in play, the iBuying model comes with some drawbacks that we feel are important to know. If you're looking to sell your home fast and looking for Zillow Offers competitors, this article aims to detail your options.
Things to know about the iBuyer model
- Service is available in limited markets
- Not all houses receive an offer
- You will receive a lower offer than you would in a competitive sale
- You will pay service fees of 6% - 10% (not including repairs)
How does Zillow Offers work?
- Check to see if Zillow Offers is available in your area and if your house is eligible to receive an offer.
- Submit your application
- Review your estimated Zillow Offers sale price ("market value")
- Schedule your home evaluation during which repair costs will be estimated and deducted from your market value estimated sales price
- Review your final offer, if you accept you choose a closing date
How does Zillow Offers determine their offer price?
Zillow Offers uses a combination of comparable analysis, home-specific information, local broker feedback and machine learning in order to prepare their offer. Your official offer will factor in your in-home evaluation visit to adjust for required repairs.
Where is Zillow Offers available?
Zillow Offers is currently available in select cities across 12 states including Arizona, California, Colorado, Florida, Georgia, Minnesota, Nevada, North Carolina, Ohio, Oregon, Tennessee, Texas.
Arizona
Phoenix, AZ
Tucson, AZ
California
Los Angeles, CA
Riverside, CA
Sacramento, CA
San Diego, CA
Colorado
Colorado Springs, CO
Denver, CO
Fort Collins, CO
Florida
Jacksonville, FL
Orlando, FL
Miami, FL
Tampa, FL
Georgia
Atlanta, GA
Minnesota
Minneapolis-St. Paul, MN
Nevada
Las Vegas, NV
North Carolina
Charlotte, NC
Raleigh, NC
Ohio
Cincinnati, OH
Oregon
Portland, OR
Tennessee
Nashville, TN
Texas
Austin, TX
Dallas-Fort Worth, TX
Houston, TX
San Antonio, TX
Zillow Offers vs OfferMarket
| Comparison | OfferMarket | Zillow Offers |
|---|---|---|
| Service fee | 0% | 8.5% |
| Repairs | $0 (as is) | deducted from initial offer |
| House type | Any | Selective |
| Closing timeframe | 15 - 45 days | 7 - 90 days |
| Markets | Nationwide | Limited cities in 12 states |
How much does Zillow Offers cost?
| Comparison | OfferMarket | Zillow Offers |
|---|---|---|
| Purchase price | $100,000 | $100,000 |
| Service fee | $0 | $8,500 |
| Repairs | $0 | $0 |
| Closing cots | $1,500* | $1,500* |
| Net proceeds | $98,500 | $90,000 |
