Realtor.com announced Thursday the launch of its Seller’s Marketplace, a new platform from the real estate listing portal where homesellers can get information on their options, including selling to an iBuyer, sale-leaseback programs or listing with an agent.
“Seller’s Marketplace is a one-stop shop for home selling information, resources and connections,” David Masters, director of product management at realtor.com, said in a statement.
While Zillow — realtor.com’s top competitor in the real estate portal space — has leaned heavily into buying and selling homes itself to position itself as part of the transaction, realtor.com is opting to take a different approach.
“Rather than become an iBuyer ourselves, realtor.com aims to be a trusted and unbiased source that points consumers in the right direction and enables them to make the right decisions for their home and their family,” Masters said.
Consumer-facing portals have been traditionally more to serve buyers in their home search than sellers, but in recent years, they’ve expanded their offerings for sellers as well, namely the iBuyer business.
Starting Thursday, when a homeowner visits realtor.com, they can request an offer from Opendoor if the company is operating in their market. The seller can then receive and accept an offer, with a full digital and contact-free transaction from inspection to close.
At launch, realtor.com customers in Phoenix and Tucson, Arizona; Charlotte and Raleigh-Durham, North Carolina; Dallas Fort-Worth, Nashville and Atlanta can request an all-cash offer through Opendoor, with additional cities to be announced in the coming weeks and months.
“We started Opendoor with a simple idea: give home buyers and sellers the freedom to move on their own terms with convenience and certainty,” Tom Willerer, the chief product officer at Opendoor, said in a blog post announcing the move. “We’ve created a digital experience that removes the hassles and headaches of buying and selling a home because we know consumers would rather focus on the next chapter of their life than the stresses of moving.”
“Today, we’re extending the promise of choice and convenience to even more people,” Willerer added. “We’re announcing a partnership with realtor.com that provides millions of homeowners with a fully digital option to sell their home.”
The partnership with realtor.com is the second major partnership for Opendoor, which can also claim Zillow as its top competitor. Last year, Opendoor announced a partnership that allows Redfin’s prospective homeseller clients to use its website and mobile apps to request an all-cash offer for their property directly from Opendoor, or list with a Redfin agent.
In addition to the partnership with Opendoor, the seller’s marketplace offers a “sell now, mover later” option with EasyKnock and, “sell in any condition” options with HomeGo and WeBuyHouses.com.