Zillow Group will start buying and selling homes for the first time later this month, expanding its real estate business and creating new competition for real estate agents and companies like Opendoor and OfferPad.
Starting in the Phoenix and Las Vegas markets, Zillow announced that it will partner with local brokerages and agents to buy and sell homes. Homeowners in Phoenix and Las Vegas will be able receive an offer directly from Zillow, which will get the home ready to list on the open market and sell it with a local brokerage. The homes will be listed in the local MLS and on Zillow.
This is an expansion of Zillow’s Instant Offers program, which launched last year and connects homeowners to offers from investors, as well as a comparative market analysis from a local real estate agent. Instant Offers launched this past May in Las Vegas and Orlando, Fla.; it will expand to Phoenix later this month.
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