Home sellers visiting Zillow will be able to
request an Opendoor offer
SEATTLE and SAN
FRANCISCO, Aug. 4, 2022 /PRNewswire/ -- Zillow, Inc.
(Nasdaq: Z and ZG) and Opendoor Technologies Inc. (Nasdaq: OPEN)
have announced a multi-year partnership that combines two category
leaders to transform how people start their move. The partnership
will allow home sellers on the Zillow platform to seamlessly
request an Opendoor offer to sell their home.
Selling a home can be full of uncertainty for many consumers who
would rather focus on their next chapter than on the stresses of
moving. Potential sellers on Zillow apps and sites may request and
view an offer directly from Opendoor and easily compare it to an
open-market sale using a real estate agent. Opendoor offers will be
available on Zillow, and customers will be able to use the service
as a standalone offering or package it with other Zillow home
shopping services such as financing, closing and agent selection.
Additionally, Zillow customers will be able to work with a licensed
Zillow advisor who will serve as a helpful guide in understanding
these options.
"Zillow is the most visited brand in online real estate. As we
bring the housing super app to life, we're empowering our millions
of visitors to understand all their options and transact in the way
that best meets their housing needs," said Zillow Chief Operating
Officer, Jeremy Wacksman. "We know
choice is important for customers and they can make the best
decision when they see all of their selling options up front —
including selling on the open market with a Zillow Premier Agent
partner and getting a cash offer from Opendoor. This exclusive
partnership will pair Zillow's audience and brand power with
Opendoor's selling solution in one easy place, so customers can
evaluate their selling options and easily package it with other
Zillow services to buy and finance their next home."
"At Opendoor, we're working to turn what is often viewed as one
of life's most stressful moments — the home move — into an
e-commerce experience that's simple, certain and fast. By bringing
together Zillow's market-leading audience and Opendoor's e-commerce
platform, more consumers will have the option to sell to Opendoor
and save themselves the stress and uncertainty of a traditional
sale process," said Opendoor President Andrew Low Ah Kee. "For parents looking to
upsize, a young professional moving for a new job, and millions of
others who regularly use Zillow to explore their home selling
options, we will provide them with the ability to move with a tap
of a button."
Zillow and Opendoor are working together to launch this new
product experience with the goal of serving shared customers
nationwide in the coming months and years.
About Zillow Group
Zillow Group, Inc.
(NASDAQ: Z and ZG) is reimagining real estate to make it easier to
unlock life's next chapter. As the most visited real estate website
in the United States, Zillow® and
its affiliates offer customers an on-demand experience for selling,
buying, renting or financing with transparency and ease.
Zillow Group's affiliates and subsidiaries include Zillow®,
Zillow Premier Agent®, Zillow Home Loans™, Zillow Closing
Services™, Trulia®, Out East®, ShowingTime®, Bridge Interactive®,
dotloop®, StreetEasy® and HotPads®. Zillow Home Loans, LLC is an
Equal Housing Lender, NMLS #10287
(www.nmlsconsumeraccess.org).
About Opendoor
Opendoor's mission is
to power life's progress, one move at a time. Since 2014,
Opendoor has provided people across the U.S. with a simple
way to buy and sell a home. Opendoor currently
operates in a growing number of markets
nationwide.
For more information, please visit www.opendoor.com
Forward-Looking Statements
This press release contains
certain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, as amended. All
statements contained in this press release that do not relate to
matters of historical fact should be considered forward-looking,
including statements regarding Zillow's and Opendoor's respective
business strategy and plans, market opportunity and expansion and
objectives of management for future operations. These
forward-looking statements generally are identified by the words
"can", "goal", "may", "potential", "will", or "would", the negative
of these words, or other similar terms or expressions. The absence
of these words does not mean that a statement is not
forward-looking. Forward-looking statements are predictions,
projections and other statements about future events that are based
on current expectations and assumptions and, as a result, are
subject to risks and uncertainties. Many important factors could
cause actual future events to differ materially from the
forward-looking statements in this press release, including but not
limited to each of Zillow's and Opendoor's success in retaining or
recruiting, or changes required in, its officers, key employees or
directors; the impact of the regulatory environment and
complexities with compliance related to such environment; various
factors relating to Zillow's and Opendoor's respective business,
operations and financial performance, including, but not limited
to, the impact and duration of the COVID-19 pandemic; the ability
to respond to general economic conditions and the health of the
U.S. residential real estate industry. The foregoing list of
factors is not exhaustive. You should carefully consider the
foregoing factors and the other risks and uncertainties described
under the caption "Risk Factors" in each of Zillow's and Opendoor's
most recent Annual Report on Form 10-K filed with the Securities
and Exchange Commission (the "SEC"), as updated by other filings
with the SEC. These filings identify and address other important
risks and uncertainties that could cause actual events and results
to differ materially from those contained in the forward-looking
statements. Forward-looking statements speak only as of the date
they are made. Readers are cautioned not to put undue reliance on
forward-looking statements, and neither Zillow nor Opendoor assume
any obligation and do not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise. Neither Zillow nor Opendoor give any
assurance that they will achieve their respective expectations.
ZFIN
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SOURCE Zillow, Inc.; Opendoor Technologies Inc.