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ZILLOW OFFERS – CONVENIENCE vs COST


Today we’re going to be talking about Zillow and when it comes to selling your home to them, is the convenience worth the cost? Hi, I’m Jeff Crampton with Keller Williams Realty in Las Vegas, Nevada And that means that I take care of my home selling and buying clients in Las Vegas, North Las Vegas, and in Henderson. In this video I’m going give you four reasons to consider selling your home to Zillow, and then I’m going to give you four reasons to consider not selling your home to Zillow. I recently had the opportunity to experience the Zillow Offers firsthand… But before we begin, if this is your first visit to my channel, I would really appreciate it if you might give this video a thumbs up, tell me what you think of it in the comment section below, and most importantly, if you would consider, while you’re here, subscribing to my channel by hitting the little red subscribe button. Also, click on the bell if you want to be notified the next time I post a video. Thank you very much. I really do appreciate it. So let’s get started. The four reasons to consider selling your home to Zillow, are based on convenience and not having to deal with the normal hassle of selling a home. Reason number one is the convenience of not holding an open house. I mean seriously, who wants to hold an open house? Even though this one kind of speaks for itself, let me just say that only 7% of the homes that are sold are sold via an open house. And not only via an open house, and/or a yard sign. So it’s actually less than 7% of homes sold are sold with an open house. That means that over 93% of the time an open house is not gonna sell your home. And reason number two is not having to clean up and declutter your home, and put away all of the normal stuff you use every day so that your your counters and your bathrooms are always neat and tidy. And keeping your home extra clean, just in case somebody wants to come by and see it. Reason number three is the Inconvenience of when somebody calls suddenly unexpectedly, and wants to drop by and see your home. “Hey, there, just happened to be in the neighborhood. It’ll only take a minute. Can they come by and take a quick look?” Nobody wants that phone call. This can be annoying enough if it’s just getting yourself out of the house, but now add kids to the equation, a dog, a cranky spouse, and it’s like trying to kick water uphill. And then the people are either late, or they don’t show up. Reason number four, and this is probably the most valid of all of the reasons, and that is, when you sell your home to Zillow, you know exactly when you’re gonna close escrow. There’s no waiting. There’s no wondering, there’s no worrying There’s no stressing about when is this gonna happen. You know exactly when it’s gonna happen. It’s the convenience of knowing when escrow is going to close, and you can move out of the house and get on with your life Look selling a house is almost always an inconvenient and stressful process. But by selling it to Zillow you could avoid that stress and inconvenience for the four reasons. I’ve just given you. The reasons that you may not want to sell your house to Zillow are all about the money, about the cold hard cash, About the Primo Dinero, about the proceeds that you’re going to net when you close escrow. How much money winds up in your pocket? For the four reasons not to sell your house to Zillow, I’m going to include the actual numbers involved with the sale of my client’s home. Pay particular attention to the convenience versus cost factor in not selling your house to Zillow. Reason number one is that Zillow makes lowball offers that are non-negotiable. Low. Ball. Offers. Take it, or leave it. In my clients case, the home was listed on the market for$540,000 dollars, which was well priced in that price range. Zillow came in and offered them $22,000 dollars less, or $518,000 on a $540,000 dollar listing. Reason number two, was that Zillow charges a service fee. In this case, it was over $46,000 dollars. Reason number three was, besides the lowball offer $22,000 dollars less than the list price and the $46,000 dollar service credit, Zillow also required that the sellers pay over $14,000 dollars in contributions to fixing the house up. Now the home was only five years old to start with, but Zillow wanted new interior paint and new flooring throughout. Reason number four is at the beginning of this adventure Zillow stated that their cost to sell somebody’s house to them, was about 11.5% percent. Now think about this, in the advertising they say not only avoid the inconvenience of selling your home with a realtor, but also the expense of the 6.00% percent that Realtors typically charge. And yet, their stated number was 11.5% percent However, that is not exactly accurate, because Zillow bases that 11.5f percent number off of the service credit, and the seller contribution to repairs, from the $518,000 dollar price. What’s not included in there, is the fact that the $518,000 was off of the $540,000 dollar list price. That’s another twenty two thousand dollars. And when you add all of the numbers up, the cost to sell the house to Zillow was over 15.00% percent and $82,000 dollars. Eighty two. Tthousand. Dollars. And by the way, not a penny of that went to the listing agent, which in this case was, yours truly. But they were my clients and I had to stick by them because nobody you talked to from Zillow, is a licensed agent. That means there is no fiduciary responsibility on their part to be honest and truthful with the sellers, who again, were my clients. Zillow informed me that if I was going to make anything on this deal that my clients would have to pay it on top of the already 15.00% percent that Zillow was charging them. I hope you found this information useful, and before you consider selling your house to a Zillow, or an Amazon, or a Redfin, or a Trulia, or Opendoor, door an Offerpad, or any of those other companies, that Suggest you avoid the hassle and expense of selling your home traditionally with a real estate agent and selling it to them instead. Carefully consider the cost of the inconvenience that they want you to avoid, maybe way more than you were thinking it would be. Please consider giving me a call first. I know I can put more money in your pocket when the escrow closes. Thank you for your time. Thank you for your attention. And most of all, Thank you for watching my video. Bye-bye.

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