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Any experience selling with Opendoor, Zillow?
Posted on 8/5/21 at 12:06 pm
Posted on 8/5/21 at 12:06 pm
Looking to sell my home soon and I'm scheduled to get an on site evaluation and quote from Zillow. Just curious if anyone else had gone the cash offer route. I'm interested to see where they come in. Avoiding doing repairs and showings would be pretty nice.
3
Posted on 8/5/21 at 1:01 pm to h0bnail
I assume you will get less than market since they have to immediately resell.
I'd be curious to know if less than market with smaller transaction fees avoiding an agent will make up for you not having an agent and not getting market rate.
I'd be curious to know if less than market with smaller transaction fees avoiding an agent will make up for you not having an agent and not getting market rate.
Posted on 8/5/21 at 9:01 pm to h0bnail
I had them give me an offer just for shits and giggles. They offered me $71K more than I paid for my house 12 months ago. I could easily stretch that to over $100K going with a traditional sale.
ETA: This was their initial offer. They didn't even see the house in person so they don't know about the huge concrete slab I poured to increase my outdoor entertaining area.
ETA: This was their initial offer. They didn't even see the house in person so they don't know about the huge concrete slab I poured to increase my outdoor entertaining area.
This post was edited on 8/5/21 at 9:04 pm
Posted on 8/6/21 at 10:46 am to h0bnail
My brother just sold his house here in STL thru Open Door. He started the process the 2nd week of June and closed last Monday. He loved the process with not having to deal with open houses and agents in the house.
He was hoping for $368K and ending up selling for $405K, netting $377 after it was all said and done including (commission/closing costs).
His initial FT or Zoom meeting, they had him walk thru the house so the OD person could see the house. The next day a woman came out and took pictures of the outside who also left a drop box. He never spoke to her. After that the offers started rolling in.
All in all, he was really pleased. Especially compared to the experience when he first had it on the market two years ago with a RE agent that did nothing.
He was hoping for $368K and ending up selling for $405K, netting $377 after it was all said and done including (commission/closing costs).
His initial FT or Zoom meeting, they had him walk thru the house so the OD person could see the house. The next day a woman came out and took pictures of the outside who also left a drop box. He never spoke to her. After that the offers started rolling in.
All in all, he was really pleased. Especially compared to the experience when he first had it on the market two years ago with a RE agent that did nothing.
Posted on 8/6/21 at 12:46 pm to mingoswamp
quote:
My brother just sold his house here in STL thru Open Door. He started the process the 2nd week of June and closed last Monday. He loved the process with not having to deal with open houses and agents in the house.
He was hoping for $368K and ending up selling for $405K, netting $377 after it was all said and done including (commission/closing costs).
His initial FT or Zoom meeting, they had him walk thru the house so the OD person could see the house. The next day a woman came out and took pictures of the outside who also left a drop box. He never spoke to her. After that the offers started rolling in.
All in all, he was really pleased. Especially compared to the experience when he first had it on the market two years ago with a RE agent that did nothing.
Sounds pretty great. I'm working with Zillow, since Opendoor doesn't operate in my small town. I was given a "Market Value" sight unseen, and it's a good bit more than comps. I have someone coming out on the 24th for a walkthrough. Hopefully the original number holds up, but there's definitely some room to work with.
Posted on 8/6/21 at 11:36 pm to Teddy Ruxpin
quote:.
I assume you will get less than market since they have to immediately resell.
I'd be curious to know if less than market with smaller transaction fees avoiding an agent will make up for you not having an agent and not getting market rate.
In my brother's case it was totally the opposite. He got more than expected. The local established RE Queen in the area wanted to start at $350K and try to start a bidding war. If he would have received an offer for the listing amount he would have payed the 6% commission plus had to haggle over closing cost and not nearly ending what he netted.
Posted on 8/6/21 at 11:49 pm to h0bnail
quote:
Sounds pretty great. I'm working with Zillow,
Zillow getting into the market directly in my opinion is a game changer. The majority of RE agents aren't any better than single ply toilet paper.
My ex-wife was a closer for a title company for 40 years and the majority of her headaches were from RE agents not doing their job after the contract was signed. There is no reason why a buyer should unexpectedly need to write a check for thousands of dollars on the day of closing without prior notice.
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