Zillow Offers managed to contribute 40% to its parent company’s profits in the second quarter of the year, leaving Zillow execs excited about the “incredibly impressive” demand for its iBuyer service.
In the hopes of realizing this potential, Zillow Offers is on a mission to expand, announcing recently that it’s now available in four new cities.
Soon, home sellers in Cincinnati; Oklahoma City; Jacksonville, Florida; and Tucson, Arizona will be able to request a cash offer from Zillow for the immediate sale of their homes. (For more on what, exactly, an iBuyer is, read this.)
More than 170,000 homeowners have requested an offer from Zillow Offers, according to the company, which said 70,000 of those requests happened in Q2 alone – 94% spike from the previous quarter.
“It’s been incredible to watch demand for Zillow Offers continue to exceed our expectations,” Zillow Brand President Jeremy Wacksman said. “Homeowners in these four additional cities will soon have another option when it comes to selling their home – with a cash offer from Zillow, they can sell with more control and certainty, on their timeline. It’s all part of the seamless, tech-enabled experience that we’re building for home buyers and sellers across the country.”
Since launching in April 2018, Zillow Offers has expanded its footprint to 15 markets across the country. Since Q1, it added seven markets to its list, including the addition of Nashville announced on Monday.
With the addition of these four cities, Zillow says it plans to operate in 26 markets by the middle of next year.