Zillow-affiliated agents will be able to offer Colorado home sellers an instant offer
, as well as Charlotte, N.C.; Columbia and Greenville, S.C.; and the Texas cities of San Antonio, Austin and Killeen.
Although its website remains hugely popular with consumers looking to purchase a home, Zillow had a harder time attracting sellers once it shed Zillow Offers, which had about a 10% success rate in converting consumers who requested an offer, according to an, a global real estate tech strategist and scholar-in-residence at the University of Colorado Boulder.
Zillow-affiliated agents will present instant offers from Opendoor alongside their estimates of what a home is worth. Although cash offers won’t appeal to everyone, tapping into Zillow’s massive reach should lower customer acquisition costs for Opendoor, which was paying around $5,500 per customer last summer, according to DelPrete.
“It puts Zillow back in the potentially-lucrative seller leads business, and gives Opendoor access to millions of potential customers. Win-win,” DelPrete said in his analysis, which he reaffirmed on news that the partnership would be extended to Colorado.
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