Has anyone sold a home to Zillow?

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Smokey21
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Has anyone sold a home to Zillow?

Post by Smokey21 » Sat Jan 11, 2020 12:13 pm

Zillow advertises they will purchase homes in my area. Has anyone sold a personal or rental home directly to Zillow?

If so, would you share your experience?

stan1
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Re: Has anyone sold a home to Zillow?

Post by stan1 » Sat Jan 11, 2020 12:22 pm

The concept has been around for a long time. In my area there are even realtors who specialize in "depressed" properties although not as many as there were 10 years ago. Sometimes these realtors have other business interests such as flipping, traditional rentals, or short term Airbnb rentals.

Why would you want to do this instead of letting the market establish the sales price?

Convenience is one. Maybe you have a newborn or pets in the house and just want to be done quickly. Maybe it's an estate sale and the executor wants the house sold fast and easy. Maybe the house has "issues" you don't want to deal with and are willing to accept a lower price for a quick sale. I'll admit I've sold several cars to Carmax because it is so easy to do possibly at the expense of $1-2K of value.

HEDGEFUNDIE
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Re: Has anyone sold a home to Zillow?

Post by HEDGEFUNDIE » Sat Jan 11, 2020 12:31 pm

Get bids from both Zillow and OpenDoor

123
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Re: Has anyone sold a home to Zillow?

Post by 123 » Sat Jan 11, 2020 12:40 pm

If you want a quick deal look for advertising from people who buy "ugly houses". That advertising comes and goes in a lot of areas. I'm sure they've got quick cash deals available and you won't have to spend a lot of time figuring out how to invest the proceeds of the sale because there likely won't be a lot.
The closest helping hand is at the end of your own arm.

retire2022
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Re: Has anyone sold a home to Zillow?

Post by retire2022 » Sat Jan 11, 2020 12:40 pm

Smokey21 wrote:
Sat Jan 11, 2020 12:13 pm
Zillow advertises they will purchase homes in my area. Has anyone sold a personal or rental home directly to Zillow?

If so, would you share your experience?
I've brought a home/land through Zillow but not sold one.

-found Zillow to be good for Upstate NY, your results will vary with your area.
-good to get an idea of types of realtors out there, at least a preview before meeting them
-properties each realtor in same area, some were high end, some were low-mid range
-Prices were not always accurate, taxes were pretty accurate for Upstate NY
-Zillow made it easy to search for real estate, that is I sorted properties for acreage, price and moved different areas using the map, and new listings were populated

good luck

Freetime76
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Re: Has anyone sold a home to Zillow?

Post by Freetime76 » Sat Jan 11, 2020 12:50 pm

123 wrote:
Sat Jan 11, 2020 12:40 pm
If you want a quick deal look for advertising from people who buy "ugly houses". That advertising comes and goes in a lot of areas. I'm sure they've got quick cash deals available and you won't have to spend a lot of time figuring out how to invest the proceeds of the sale because there likely won't be a lot.
Key point in color, above. This buy will be priced lower than low. Not for a BH person!

alex_686
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Re: Has anyone sold a home to Zillow?

Post by alex_686 » Sat Jan 11, 2020 12:54 pm

stan1 wrote:
Sat Jan 11, 2020 12:22 pm
In my area there are even realtors who specialize in "depressed" properties although not as many as there were 10 years ago. Sometimes these realtors have other business interests such as flipping, traditional rentals, or short term Airbnb rentals.

Why would you want to do this instead of letting the market establish the sales price?

Convenience is one. Maybe you have a newborn or pets in the house and just want to be done quickly. Maybe it's an estate sale and the executor wants the house sold fast and easy. Maybe the house has "issues" you don't want to deal with and are willing to accept a lower price for a quick sale. I'll admit I've sold several cars to Carmax because it is so easy to do possibly at the expense of $1-2K of value.
In part because the market has changed. The current process is inefficient. Capital is cheap. As you suggest, we have gone from shady corner lots selling used cars to the professional big capital situation of Carmax. I have never considered the Ugly House road. I am not sure I would go down this road myself but I do consider it a valid option and would like to hear from somebody who has used one of the professional outfits.

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Smokey21
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Re: Has anyone sold a home to Zillow?

Post by Smokey21 » Sat Jan 11, 2020 1:00 pm

If a Zillow offer is WAY under market value, I would not be interested. Cash for quick sale people are of no interest to me.

I am looking to sell a rental home. If it was 10-15% below with no realtor fees, as is, ability to time the sale to meet my needs for a 1031 exchange, avoid a vacant rental house it might be worth it.

Has anyone actually sought an offer from them? How close was it to market value in your opinion?

My rental is occupied, and Zillow won't offer until a 60-90 day window of the lease ending.

redstar
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Re: Has anyone sold a home to Zillow?

Post by redstar » Sat Jan 11, 2020 1:16 pm

Smokey21 wrote:
Sat Jan 11, 2020 1:00 pm
If a Zillow offer is WAY under market value, I would not be interested. Cash for quick sale people are of no interest to me.

I am looking to sell a rental home. If it was 10-15% below with no realtor fees, as is, ability to time the sale to meet my needs for a 1031 exchange, avoid a vacant rental house it might be worth it.

Has anyone actually sought an offer from them? How close was it to market value in your opinion?

My rental is occupied, and Zillow won't offer until a 60-90 day window of the lease ending.
I think they charge more than most realtors. Something like 6-13%, but this includes repairs other buyers might negotiate for. I would think you’d have to get offers to see if it’s competitive. Please report back and let us know!

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jfn111
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Re: Has anyone sold a home to Zillow?

Post by jfn111 » Sat Jan 11, 2020 1:51 pm

I posted details in another thread but the basics are- Zillow was right on value based on what we were listing the house for. Zillow has a high commission plus you pay their closing costs and what they want for repairs (you can't make the repairs). If I remember correctly we were looking at between 13-15% to sell to them.
The seller had a time crunch due to a nasty divorce but we found a conventional buyer at the last minute. I listed the house for 5%.

Goal33
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Re: Has anyone sold a home to Zillow?

Post by Goal33 » Sat Jan 11, 2020 2:17 pm

Smokey21 wrote:
Sat Jan 11, 2020 1:00 pm
If a Zillow offer is WAY under market value, I would not be interested. Cash for quick sale people are of no interest to me.

I am looking to sell a rental home. If it was 10-15% below with no realtor fees, as is, ability to time the sale to meet my needs for a 1031 exchange, avoid a vacant rental house it might be worth it.

Has anyone actually sought an offer from them? How close was it to market value in your opinion?

My rental is occupied, and Zillow won't offer until a 60-90 day window of the lease ending.
Your case is a good use case. Why not get a bid? It can be fair given all your constraints.
A man with one watch always knows what time it is; a man with two watches is never sure.

FS51
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Re: Has anyone sold a home to Zillow?

Post by FS51 » Sat Jan 11, 2020 2:26 pm

jfn111 wrote:
Sat Jan 11, 2020 1:51 pm
I posted details in another thread but the basics are- Zillow was right on value based on what we were listing the house for. Zillow has a high commission plus you pay their closing costs and what they want for repairs (you can't make the repairs). If I remember correctly we were looking at between 13-15% to sell to them.
The seller had a time crunch due to a nasty divorce but we found a conventional buyer at the last minute. I listed the house for 5%.
I'm in a similar situation as the OP and am considering getting an offer based on this post. My Tennant's lease runs through August so I guess I have to wait a few months before I can an official offer. If I end up getting one, I'll post back here as a data point.

For anyone who had gotten an offer, how close to their zestimate was it? Wondering if the 2 are in any way correlated.

michaeljc70
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Re: Has anyone sold a home to Zillow?

Post by michaeljc70 » Sat Jan 11, 2020 4:03 pm

A friend of mine used a buying service but I don't know which one. They put the house on the market and sold it several months later for about 35% more than they give him. Of course, they cleaned out what was left, he didn't have to fix anything (doubtful there was much to fix), had to carry it for months, etc. I thought it was an extreme waste of money but my friend just didn't want to be bothered. The service could have sold it quicker but they were asking too much money for a while (I think they did 3-4 price reductions).

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SlowMovingInvestor
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Re: Has anyone sold a home to Zillow?

Post by SlowMovingInvestor » Sat Jan 11, 2020 4:12 pm

Is Zillow's offer remotely related to the price that shows up when Zillow shows you your Zestimate house price ?

Of course, the offer would be different if the house were rented, since then it would be modeled on a cash flow basis.

Slightly off topic, but I am curious if would-be purchasers (especially younger ones) give any weight to the Zestimate when house hunting. I gather homeowners can also tweak house facts to adjust Zestimate prices, so I would assume not.

redstar
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Re: Has anyone sold a home to Zillow?

Post by redstar » Sat Jan 11, 2020 4:21 pm

SlowMovingInvestor wrote:
Sat Jan 11, 2020 4:12 pm
Is Zillow's offer remotely related to the price that shows up when Zillow shows you your Zestimate house price ?

Of course, the offer would be different if the house were rented, since then it would be modeled on a cash flow basis.

Slightly off topic, but I am curious if would-be purchasers (especially younger ones) give any weight to the Zestimate when house hunting. I gather homeowners can also tweak house facts to adjust Zestimate prices, so I would assume not.
It sounds like they employ a local real estate company to generate an offer, which is why it’s only available in some markets. They probably use their neighborhood level data somewhat to tweak that and estimate what profit they can make, but it’s not lifting straight from the Zestimate.

I’m a young purchaser who bought a house about a year ago. We used Zillow extensively for research, but primarily focused on the last sale price or list price. However, if there was a large discrepancy between the list and Zestimate or the last sale and Zestimate, then it was likely either a flip or purchased way before the neighborhood prices skyrocketed. Zillow Zestimates are much more useful at a neighborhood/city scale, because you can see price per sq. ft. by neighborhood as well as overall trends. I’ve also used the Zillow Rent Index dataset they offer to look at rents by neighborhood or zip code.

ARoseByAnyOtherName
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Re: Has anyone sold a home to Zillow?

Post by ARoseByAnyOtherName » Sat Jan 11, 2020 9:56 pm

alex_686 wrote:
Sat Jan 11, 2020 12:54 pm
stan1 wrote:
Sat Jan 11, 2020 12:22 pm
In my area there are even realtors who specialize in "depressed" properties although not as many as there were 10 years ago. Sometimes these realtors have other business interests such as flipping, traditional rentals, or short term Airbnb rentals.

Why would you want to do this instead of letting the market establish the sales price?

Convenience is one. Maybe you have a newborn or pets in the house and just want to be done quickly. Maybe it's an estate sale and the executor wants the house sold fast and easy. Maybe the house has "issues" you don't want to deal with and are willing to accept a lower price for a quick sale. I'll admit I've sold several cars to Carmax because it is so easy to do possibly at the expense of $1-2K of value.
In part because the market has changed. The current process is inefficient.
You're implying the market has changed such that the the current process of buying or selling a house is less efficient that before.

How is it less efficient?

If anything buying/selling property has gotten *more* efficient than before.

Now compared to other transactions it might be less efficient on an absolute basis, but I cannot imagine buying or selling property has gotten *less* efficient recently.
Last edited by ARoseByAnyOtherName on Sat Jan 11, 2020 10:42 pm, edited 1 time in total.

Alan S.
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Re: Has anyone sold a home to Zillow?

Post by Alan S. » Sat Jan 11, 2020 10:04 pm

Freetime76 wrote:
Sat Jan 11, 2020 12:50 pm
123 wrote:
Sat Jan 11, 2020 12:40 pm
If you want a quick deal look for advertising from people who buy "ugly houses". That advertising comes and goes in a lot of areas. I'm sure they've got quick cash deals available and you won't have to spend a lot of time figuring out how to invest the proceeds of the sale because there likely won't be a lot.
Key point in color, above. This buy will be priced lower than low. Not for a BH person!
If you assume the Zestimate is within 5 pts of a traditional sale price, my guess would be that if Zillow or the like were to purchase the house, you could knock off 1/3.

rutrow2015
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Re: Has anyone sold a home to Zillow?

Post by rutrow2015 » Sun Jan 12, 2020 5:45 am

This is my experience with "we will buy your home without listing it" for what it is worth. Please note that we do not have plans to move but if the price is right we would.

Two years ago we asked open door for an evaluation to buy our house. Their offer came in almost to the penny of what our mortgage balance would have been had we not been paying extra principal for many years. At that point the offer / mortgage was about 60% of what we paid for the house. Since it is fairly easy to find out (in some states) how much the original note on a property is I have always wondered if that is what open door based their offer on.

Fast forward to 2019 and I go through the same process with Zillow offers. The difference is that Zillow actually offers above what I believe the house could sell for in a traditional sale. We decide to proceed with Zillow knowing that they will cut the offer by 10 - 15% after the inspection for 'repairs' even though there is nothing wrong with the house. But even with that discount we are still at least AT market with no realtor B.S.

I take a day off to allow the Zillow inspector to spend about 4 hours at the house. After this we expect to wait a few days for the finalized offer. We are looking at homes to rent and storage facilities because we truly believe this is happening. However my "Zillow adviser" has suddenly gone dark after sending at least an email per day. Finally we get an an email from a local traditional Real Estate Agent with the following verbiage :

We have both good news and challenging news. The Challenging news is that it looks like during the underwriting process, the team visited the market activity, the Acquisitions team has decided they cannot extend an offer because the valuation adjustment needed would exceed our threshold.
A more simple way to phrase; due to the market activity in your subdivision, Zillow would have to adjust their offer numbers by more than they are able to adjust it for.
Because of this, Zillow is unable to move forward with the transaction. The Good news is that we can still get the result you ultimately want, which is to sell your house quickly, and without any headaches.


My conclusion was thus : Zillow spent a lot of their investors money to generate a sales lead for one of their premiere agents. I sent an email to my Zillow advisor and copied the agent and told them that Zillow needs to figure out who their customer is - the homeowner or the premiere agent. The process left me with a bad taste for Zillow.

Buysider
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Re: Has anyone sold a home to Zillow?

Post by Buysider » Mon Jan 13, 2020 4:59 am

I've been watching Zillow, Offerpad, and Opendoor. It is an experiment to change the ways homes are sold for a small % of US homes. People are willing to pay for speed and convenience in other industries, home sales is no different. Some people have thrown out crazy numbers (1/3 off), the market won't work if they pay 1/3 less than market. But 5-10%? Yes, especially if you need to move in a hurry and don't have the time to supervise the light renovations and touch ups that most homes need.

I'm sure a BH purist would say do-it-yourself, but like changing the oil in your car (if you still drive a gasoline powered one), cutting your own hair, or wiring your home electric system yourself, sometimes you might not be saving as much money as you think.

I think it is a great innovation in an industry that is quite inefficient. 5-6% sales commissions? Crazy incentives for agents? If it makes the world better for even a small number of US home sales, this has been an experiment well worth trying!

viperguy56
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Re: Has anyone sold a home to Zillow?

Post by viperguy56 » Mon Jan 13, 2020 10:49 am

I just went through this a few weeks ago. Saw an article about Zillow making cash offers for houses, so I looked into it and turned out in Socal where I live its only currently available in Orange County and LA County (for the cash offer, not listed with an agent). I then looked at Redfin who was doing the same thing and they did offer it in my county. I talked to a rep to get more information as my assumption was the same as many above that they would give a very below market offer like the "we buy any home" cardboard posters you see on freeway offramps. Their explanation was they try to offer as close to real market value as possible as they also list homes with redfin agents and by buying a home well below value it would effect their homes for sale in the same area (makes sense). So instead of making their money on the back end by selling your home for more then what they bought it for, they make it on the front end from a commission: 7%. At first I laughed at a high amount but then thinking to list it with a realtor would run me 5-6%, the 1-2% increase but with a cash offer, no contingencies, they don't care about it being clean, painted, new carpet, etc. and you get to pick close of escrow between 7 days and 60 days (can also rent home from them after that time period). Their offer is good for 7 days but you can always resubmit for another offer. Its a 5 minute online application, upload pictures, and a phone call to give more detail on remodel and work you've done to the house etc.

Bought my house 3 years ago for 480 and comp down the street sold for 510. That same comp listed last month at 590. My home is more upgraded by theirs and I figured mine could get another 10-20k from this. Redfin came back with a 614 cash offer, which I was quite surprised by. For the convenience of not having to deal with an agent, keeping house clean and being gone for showings, I found it quite appealing even with the 7% fee.

michaeljc70
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Re: Has anyone sold a home to Zillow?

Post by michaeljc70 » Mon Jan 13, 2020 11:21 am

viperguy56 wrote:
Mon Jan 13, 2020 10:49 am
I just went through this a few weeks ago. Saw an article about Zillow making cash offers for houses, so I looked into it and turned out in Socal where I live its only currently available in Orange County and LA County (for the cash offer, not listed with an agent). I then looked at Redfin who was doing the same thing and they did offer it in my county. I talked to a rep to get more information as my assumption was the same as many above that they would give a very below market offer like the "we buy any home" cardboard posters you see on freeway offramps. Their explanation was they try to offer as close to real market value as possible as they also list homes with redfin agents and by buying a home well below value it would effect their homes for sale in the same area (makes sense). So instead of making their money on the back end by selling your home for more then what they bought it for, they make it on the front end from a commission: 7%. At first I laughed at a high amount but then thinking to list it with a realtor would run me 5-6%, the 1-2% increase but with a cash offer, no contingencies, they don't care about it being clean, painted, new carpet, etc. and you get to pick close of escrow between 7 days and 60 days (can also rent home from them after that time period). Their offer is good for 7 days but you can always resubmit for another offer. Its a 5 minute online application, upload pictures, and a phone call to give more detail on remodel and work you've done to the house etc.

Bought my house 3 years ago for 480 and comp down the street sold for 510. That same comp listed last month at 590. My home is more upgraded by theirs and I figured mine could get another 10-20k from this. Redfin came back with a 614 cash offer, which I was quite surprised by. For the convenience of not having to deal with an agent, keeping house clean and being gone for showings, I found it quite appealing even with the 7% fee.
Is this offer final? Or do they do an inspection and then beat you down from there?

I disagree about them offering close to market value. They will lose money left and right. What if it takes 6 months to sell the house? They have to carry all the costs- property taxes, cost of capital, utilities, etc. In the best case scenario of selling the house in a day, it typically takes 60 days to close. What if two months into trying to sell your house the economy tanks? They also have to pay the selling agent and buyers agent even if they are charging a little less than a typical commission. I think the strategy of most of these services is to make an offer that seems high and then charge you commissions/fees/repairs that make the final number much lower.

Admiral
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Re: Has anyone sold a home to Zillow?

Post by Admiral » Mon Jan 13, 2020 3:04 pm

viperguy56 wrote:
Mon Jan 13, 2020 10:49 am
I just went through this a few weeks ago. Saw an article about Zillow making cash offers for houses, so I looked into it and turned out in Socal where I live its only currently available in Orange County and LA County (for the cash offer, not listed with an agent). I then looked at Redfin who was doing the same thing and they did offer it in my county. I talked to a rep to get more information as my assumption was the same as many above that they would give a very below market offer like the "we buy any home" cardboard posters you see on freeway offramps. Their explanation was they try to offer as close to real market value as possible as they also list homes with redfin agents and by buying a home well below value it would effect their homes for sale in the same area (makes sense). So instead of making their money on the back end by selling your home for more then what they bought it for, they make it on the front end from a commission: 7%. At first I laughed at a high amount but then thinking to list it with a realtor would run me 5-6%, the 1-2% increase but with a cash offer, no contingencies, they don't care about it being clean, painted, new carpet, etc. and you get to pick close of escrow between 7 days and 60 days (can also rent home from them after that time period). Their offer is good for 7 days but you can always resubmit for another offer. Its a 5 minute online application, upload pictures, and a phone call to give more detail on remodel and work you've done to the house etc.

Bought my house 3 years ago for 480 and comp down the street sold for 510. That same comp listed last month at 590. My home is more upgraded by theirs and I figured mine could get another 10-20k from this. Redfin came back with a 614 cash offer, which I was quite surprised by. For the convenience of not having to deal with an agent, keeping house clean and being gone for showings, I found it quite appealing even with the 7% fee.
So did you sell it?

As with most things, you pay for convenience. You've compared it to listing with an agent and the agent fee, but you could also sell it yourself and pay 0% (or perhaps a flat rate for an atty). Depends what your time is worth, of course, and how competitive the market it (seller's vs buyer's market).

viperguy56
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Re: Has anyone sold a home to Zillow?

Post by viperguy56 » Mon Jan 13, 2020 4:14 pm

In response to both posts above,
I did not sell it. I went through the process to get a real idea of the value but we're planning to move out of state later this year.
Their offer would of been contingent on a one time inspection (according to conversation with their rep) where they send someone out to make sure what you told them/sent pictures of matches what is actually there.
I imagine what ever their model is must make them money otherwise they wouldn't do it. Its possible they would of lowered their offer after the inspection but considering the 30 somethings pictures I sent (with a messy house) I have a feeling they were pretty honest with their price. I think their goal is to be a one stop shop for real estate and have a cycle of products: they buy my house (make their fee), they list it and sell it (make their fee again), maybe the buyer uses a redfin buyers agent (make their fee again...again), and so on.

I haven't decided if I'll go this route later this year when we're ready to move, but the idea of not having to keep our house show ready and being able to pick the closing date is very convenient with planning an out of state move. They also have an option to use them as the sellers agent for I believe 3-4% commission.

I think I would be open to selling my house myself if it weren't for moving out of state. I think it would be worth the money to have less stress to deal with selling the house so I can focus on finding the new one in an area we like.

mneumann
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Re: Has anyone sold a home to Zillow?

Post by mneumann » Tue Jan 14, 2020 5:48 pm

My sister sold her home to redfin in Southern CA similar to the above posters experience.

They initially called redfin to list the house for them and redfin came in and said hey we will just make you an offer to buy it and then you won't have to stage it, paint it, recarpet, etc and we will do that after you move out.

They needed to move quickly out of state for work, both still had jobs and had a 1 year old and a dog at home, which all made showing difficult, so they decided to go with it.

Redfin paid $436000. I believe they also paid the 7% up front comission but not 100% sure as the story was told to me when this happened 2 years ago and i have forgotten.

Based on pictures redfin did paint, recarpet a couple rooms, and appeared to do some fake staging through pictures when the house was empty, but I dont believe they actually staged.

They relisted the house 2 weeks after the close for 444,900. 30 days later they dropped the price to 439,900. 41 days after this or essentially 85 days after my sister closed they resold the house for 434000.

Given that they would've paid likely 4% comission if listed with redfin they would've netted 416640 if they put it on the market and they instead netted 405480 after the 7% upfront commission.

Given they were able to move when needed and didnt have to sit on the house an additional 85 days like redfin did and they did not have to paint, carpet, set up showings, deal with negotiations, inspections, and all other headaches associated with a real estate transaction, and they were also able to make non contingent offers on their house at their new location, I think they made the right decision.

When I was initially told they were selling to redfin without the details I thought they were making a horrible financial decision.

michaeljc70
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Re: Has anyone sold a home to Zillow?

Post by michaeljc70 » Tue Jan 14, 2020 7:07 pm

I'm sure there is anecdotal information on both sides. In the long run, none of these services can buy your home for market value or above, carry it, pay commissions, do repairs, sell it and lose money.

alex_686
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Re: Has anyone sold a home to Zillow?

Post by alex_686 » Tue Jan 14, 2020 8:52 pm

michaeljc70 wrote:
Tue Jan 14, 2020 7:07 pm
I'm sure there is anecdotal information on both sides. In the long run, none of these services can buy your home for market value or above, carry it, pay commissions, do repairs, sell it and lose money.
OK - but can they fix and carry your house cheaper than you? That is a critical question. If we ignore time and opportunity cost then you win.

I alluded to the inefficiencies of the current market above. What is the chance that you can find a buyer for your current home and a seller of your future home that are willing to close on the same day? I have seen mini train-wrecks as we tried to close a 2nd mortgage in a chain of 11 houses. I have seen people do weird pseudo bridge loans and living in a rented RV for weeks because they can't close on the same day.

michaeljc70
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Re: Has anyone sold a home to Zillow?

Post by michaeljc70 » Tue Jan 14, 2020 10:07 pm

alex_686 wrote:
Tue Jan 14, 2020 8:52 pm
michaeljc70 wrote:
Tue Jan 14, 2020 7:07 pm
I'm sure there is anecdotal information on both sides. In the long run, none of these services can buy your home for market value or above, carry it, pay commissions, do repairs, sell it and lose money.
OK - but can they fix and carry your house cheaper than you? That is a critical question. If we ignore time and opportunity cost then you win.

I alluded to the inefficiencies of the current market above. What is the chance that you can find a buyer for your current home and a seller of your future home that are willing to close on the same day? I have seen mini train-wrecks as we tried to close a 2nd mortgage in a chain of 11 houses. I have seen people do weird pseudo bridge loans and living in a rented RV for weeks because they can't close on the same day.
Generally, I am living in the home while it is on the market. Redfin is not. I have closed on the same day many times. It is very common. Contingencies are very common in residential real estate. Obviously there are other situations that arise but they are in the minority.

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