Zillow is becoming the new real estate brokerage, and more.
Homeowners in the Dallas/Fort Worth area can now bypass the traditional real estate process and sell their house directly to Zillow, as the online real estate giant announced Monday that it is expanding its direct buying program to DFW.
Through Zillow Offers, the company works with local real estate agents and brokers during every transaction. Zillow pays a commission to local agents when it buys and sells each home.
Zillow also uses Zillow Offers to promote its Premier Agents, which allows real estate agents to acquire new listings by connecting them with potential sellers who have already taken a direct action to sell their home.
Consumers who request a Zillow Offer but chose to sell their home traditionally with an agent or do not receive a Zillow Offer will be connected to a local brokerage or Premier Agent.
Of course, everything will be integrated through Zillow: a new mortgage, repairs, acting as a broker for the buyers. This will be a major disruptor for the traditional real estate brokerages.
Who’s winning, who’s losing? Of course the major winner will be Zillow. Who will lose? We’ll see.