��Long Zillow. Short Real Estate Agents?��

��Long Zillow. Short Real Estate Agents?��

he laid out their three to five year targets (goals).

• Purchase 5,000 homes per month through Zillow Offers. Generating revenue of approximately $20 billion. In 2018, they purchased 686 homes through Zillow Offers, generating $52 million in revenue.
• Originate 3,000 loans per month. Up from 4,000 originations in all of 2018.
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• As mentioned earlier, Zillow believes that consumers expect magic to happen at the push of a button. Let’s go ten years into the future and see what that might look like…
  …One rainy day, Mr. Prescott is sitting at his computer, and he gets a notification from Zillow.
  😲Surprise! The house he looked at seven times on their app, has just become part of Zillow’s inventory.
  Since he bought his current house from Zillow (Zillow Offers), they know exactly how much he paid. In addition, they financed his current house (Zillow Mortgage), so they know exactly how much he can afford.
  Note: He wasn’t thinking about moving, just likes looking at houses, as do millions of Americans.
  Their email says something like this:
  Mr. Prescott,
  We noticed you have looked at this house on 523 Elm St. seven times over the past month. Great news! This house just became part of our inventory😁
  We are prepared to offer you $275,000 for you current house.
  We will sell you 523 Elm St. for $315,000.
  Since you have $100,000 of equity in your current house (they know this because they financed it), we are prepared to offer you a 15-year mortgage for $215,000 at a 3.5% interest rate.
  Your TOTAL out-of-pocket expenses for this transaction will be $4,300 (people like certainty; moving will $100 dollar you to death).
  In addition, here are three dates we can move you out of your current house, and into your new house.
  Attached are some repairs we think this house will need and what they will cost. If you choose to go forward with any of them, we will proceed with the repairs, and the costs will be rolled into your mortgage at no additional out-of-pocket cash for you.
  This offer will expire in 72 hours.
  Again, your total OUT-OF-POCKET cash, should you accept this offer, will be $4,300 dollars. And not a penny more.
  If you would like proceed, just click “Accept this Offer” and one of our agents will be in touch with you shortly…
  Cordially,
  Future Zillow😉