Is Zillow getting into the house flipping business to make a profit buying and selling real estate? Of the users who submit an Instant Offer request, one-third sell their home within 90 days—and 10% of that third take an investor’s offer. Zillow’s main play here may just be seller lead generation.
Today, Rob and Greg talk T3, iBuyers and Zillow. Greg shares his takeaways from the T3 conference, including praise for Stefan’s keynote address and an eye-roll over the ‘no corporate sponsors’ sentiment. Our hosts discuss the recent bombshells around Dale’s departure from RPR and Zillow’s expansion of Instant Offers. Rob walks us through the details of Zillow’s announcement, explaining how sellers will now get an offer from Zillow itself when they use the Instant Offers platform. Rob and Greg share surprise at the lack of backlash around the announcement, examining the benefits for an agent representing Zillow as well as the drop in stock price in light of the news.
Greg offers insight on potential abuses of the iBuyer model, considering how predatory lenders might target seniors, the uneducated, or the poor, and they cover the impact of Zillow’s shift on other players in the iBuyer space. Listen in as Rob and Greg address the windfall Zillow is likely to earn in the form of seller leads and learn how the company could solve the affordable housing crisis—and gain invaluable PR in the process!
Greg’s takeaways from T3
The rumors around RPR and Zillow
Zillow’s announcement of the expansion of Instant Offers
The surprising response to Zillow’s plans to flip houses
Greg’s concerns about the iBuyer model
The recent drop in Zillow’s stock price
Why flipping is not a change in Zillow’s business model
The prospect of Zillow making a fortune on seller leads
Greg’s casino analogy for Zillow’s home-flipping venture
Rob’s take on how Zillow could solve affordable housing
Zillow’s impact on other players in the iBuyer space
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