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Looking For A Home Buyer? Now Zillow's In The Market

By Karen Morfitt

DENVER (CBS4)- If you are thinking about selling a home, you may have a new option when it comes to the process thanks to the online real estate giant, Zillow. Teresa Chipps is one of the first in the Denver metro area to take advantage.

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"The home is a home that my parents had lived in, so we had moved them to a new location, started cleaning out the house and getting it ready for sale," she said.

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Instead of prepping the home for weeks, she jumped right to the sale.

"I did not list at all. I sold the house in three weeks with a very fair market offer," Chipps said.

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After providing a few photos of the home via email, and a visit from one of Zillow's agents, they made her a cash offer she could not refuse.

Jason Shepherd is the co-owner of Atlas Real Estate group working with the company during the transactions.

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"Just some touch up on the paint, light cleaning, that's the perfect model for Zillow offers and what they are looking for," Shepherd said.

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When Zillow makes an offer there is no seller's agent and concerns about financing are eliminated. The lengthy sales process is also gone.

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"If a seller decides that they don't want to have open houses, they don't want to go through all the touch up and repairs, Zillow is trying to give them a new option," he said.

While there are benefits, the Colorado Realtors Association says it is not for everyone because you likely will not be getting the highest price for your home. A spokesperson also raised concerns about not having an agent to help guide you through the process.

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For Chipps the offer was fair and the process simplified using Zillow. She says it was exactly what she was looking for and sees the new option changing the game all together.

"I do think that realtors can compete side by side but they are going to have to compete differently," she said.

Karen Morfitt joined the CBS4 team as a reporter in 2013. She covers a variety of stories in and around the Denver metro area. Connect with her on Facebook, follow her on Twitter @karenmorfitt or email her tips.

EMERGENCY COMPONENT - LOCAL

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