Zillow is getting into the home-flipping business

Soylent Green Is People said:
Redfin is doing something similar:

https://www.redfin.com/now

Once these biggies start getting into the home buying/selling arena, the end is looming on the horizon. Very late 2006 feel to this.

My .02c
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This could be really bad news for traditional agents if the model catches on.  I guess it will depend on how competitive their offers are.

Overall, I think the added market liquidity is a good thing.  It could help ease the supply crunch ever so slightly.
 
eyephone said:
I thought we talked about this previously. (Duplicate thread?)
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There was another thread when Redfin announced.

I was also thinking about this service a little more.  Both Redfin and Zillow provide "estimated" home values on their sites.  How will they justify offering below that amount to a seller?  Will they start tweaking their algorithms to reflect what they say it's worth?  Some interesting conflicts of interest could arise here.
 
I tried a few address in Irvine and a couple in Los Angeles, Hollywood area just for test-run and got a reply that it does not serve those area. Complete waste of time.
 
Liar Loan said:
eyephone said:
I thought we talked about this previously. (Duplicate thread?)
Click to expand...

There was another thread when Redfin announced.

I was also thinking about this service a little more.  Both Redfin and Zillow provide "estimated" home values on their sites.  How will they justify offering below that amount to a seller?  Will they start tweaking their algorithms to reflect what they say it's worth?  Some interesting conflicts of interest could arise here.
Click to expand...

Redfin said they were offering "market" value minus a 7-9% commission.
 
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