Today portal giant Zillow launched its Instant Offers program in two test markets. The announcement will undoubtedly rattle the industry. To help you cut through the noise, here are 11 burning questions with our best take on answers. Add your own your ideas about the new program in the comments. How does it work? Zillow’s new Instant Offers test allows prospective homesellers to receive all-cash offers from a group of big-name investors, along with a side-by-side comparative market analysis (CMA) from local Zillow Premier Agents. Homesellers who accept one of the investor offers are encouraged by Zillow to use an agent in the process, but they are not required to do so. Once offers are received from participating investors, the homeowner can choose one of three options: accept an offer and sell directly to an investor; accept an offer and use an agent to manage and close the transaction; or reject the offers and list the property with an agent on the MLS. Will it …
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