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Real Estate

Zillow Offers launches in first new market since early March

Jacksonville is now the iBuyer's 25th market

Zillow launched its iBuying solution, Zillow Offers in its 25th market Wednesday morning: Homeowners in Jacksonville, Florida can now sell their home directly to Zillow.

In early March, Zillow said it had plans to expand in Jacksonville and Oklahoma City this year. It looks like despite the pandemic, it’s still on track.

The last market Zillow Offers launched in was Cincinnati on March 2, right before the pandemic caused it to pause on March 23.

“The coronavirus pandemic has caused many people to rethink their priorities for a home – a phenomenon we call ‘The Great Reshuffling,’” said Zillow President Jeremy Wacksman in a statement. “Florida is an important market for us, with Jacksonville being the first new market we’ve expanded Zillow Offers to since March.”

Through the Zillow Offers program, if the home qualifies, the owner will receive an initial cash offer from Zillow within 48 hours. A Jacksonville-based broker will represent Zillow in the transactions. In addition, agents with an exclusive right-to-sell listing agreement can request offers from Zillow to present to their sellers. This enables agents to earn a commission while offering clients a streamlined selling process.

If the homeowner accepts the offer, the seller gets to choose a date to move out. Zillow then makes the necessary repairs and/or improvements and sells the house back into the market.

In March, Zillow paused all iBuying, citing the pandemic. About a month ago, it resumed in all 24 of its markets and even launched a new health-safety initiative.

Under this initiative, for-sale homes will undergo an additional cleaning regimen, and personal protective equipment, such as masks and gloves, will be recommended for all people entering the properties. Also, the number of in-person tours will be limited to allow for healthy distancing. Zillow also offers self-guided, in-person tours.

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