Zesitmate

U.S. real estate agents for sale portal Zillow begins making cash offers for houses

PHOTO: The ‘Zesitmate’ value estimation tool is now an initial cash offer for eligible homes in more than 20 cities nationwide, Zillow said

  • Zillow said on Thursday that it would start offering cash for homes in 20 cities
  • Real estate site’s ‘Zestimate’ price is now an initial cash offer for eligible homes
  • It is major change in business model for the listing marketplace founded in 2006
  • Comes as home prices rise the fastest rate since 2014, up 10% in December

Online real estate listing site Zillow will begin making cash offers to homeowners based on the company’s ‘Zestimate’, a price estimate of the home’s market value.

Zillow announced on Thursday that its home value estimation tool is now an initial cash offer for eligible homes in more than 20 cities nationwide, marking a major change of business model for the popular listing platform founded in 2006.

‘This exciting advancement demonstrates the confidence we have in the Zestimate and the lengths we are willing to go to make selling your home truly seamless and easy,” said Zillow Chief Operating Officer Jeremy Wacksman in a statement.

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