Why Zillow Is Now Teaming Up With Homebuilders
When Zillow Group (NASDAQ: Z)(NASDAQ: ZG) initially announced plans to enter the home-flipping market with its "Instant Offers" pilot program in mid-2017, it was clear the company intended to fundamentally disrupt the traditionally cumbersome homebuying process.
Since renamed "Zillow Offers," the initiative has expanded to 23 large metropolitan markets in 11 states -- most recently adding Los Angeles in December and Tucson, Arizona, last week. Last quarter alone, Zillow fielded a whopping 80,000 Offer requests from its website visitors. And in the process it bought nearly 2,300 homes, sold over 1,200, and ended the period with more than 2,800 homes on its balance sheet.
But if recently announced partnerships are any indication, Zillow is doing all it can to continue accelerating its homebuying efforts.
Source Fool.com
