New home construction has been heating up in the summer months with a surge in consumer demand backed by low mortgage interest rates and a lack of existing homes for sale on the market.
Zillow today announced a new relationship with D.R. Horton to become an exclusive partner to the nation’s largest home builder by volume. This partnership gives D.R. Horton homebuyers the opportunity to sell their existing homes through Zillow Offers, allowing for a seamless homebuying process and taking uncertainty out of the transaction.
New home construction has been heating up in the summer months with a surge in consumer demand backed by low mortgage interest rates and a lack of existing homes for sale on the market. When buyers purchase a new construction home, the timing of the sale and closing of their current home and closing on the new home is a top challenge.1 Selling through Zillow Offers helps solve this challenge by offering a flexible closing date so the homeowner has more control. D.R. Horton customers selling through Zillow Offers receive an extended closing timeline of up to eight months, and the flexibility to modify the closing date to better align both transactions.
“Buying a new home is an exciting time, and we’re proud to collaborate with the nation’s largest home builder to help people unlock life’s next chapter. We look forward to working together to offer a more seamless experience for our shared customers,” said Arik Prawer, President of the Zillow Homes Division. “Zillow Offers puts sellers in control of their own transaction. In a time when social distancing is becoming a necessity, selling to Zillow Offers provides a safe and flexible way to transact so new construction buyers can focus on moving into their next dream home.”
By using Zillow Offers, sellers can avoid the hassle of prepping their home for sale and hosting open houses or showings.
In addition to the streamlined process available from Zillow Offers, D.R. Horton homebuyers who sell their home through Zillow Offers may also be eligible to receive cash credits at closing and free local moving services to make the process even easier.
“We are excited to partner with Zillow to bring more convenience and flexibility to the homebuying experience. This is a great opportunity to provide our customers with new options to streamline the process of selling their existing home, and help them move into their new D.R. Horton home more efficiently,” said Donald R. Horton, Chairman of D.R. Horton.
This strategic partnership will be marketed on all D.R. Horton home listings on Zillow, and in D.R. Horton sales offices in all markets where Zillow Offers operates.
About Zillow Group
Zillow Group, Inc. (NASDAQ: Z) (NASDAQ: ZG), the largest portfolio of real estate brands on mobile and the web, is building a safe, on-demand real estate experience. Whether selling, buying, renting or financing, customers can turn to Zillow’s businesses to find and get into their next home with speed, certainty and ease.
In addition to Zillow’s for-sale and rental listings, Zillow Offers buys and sells homes directly in dozens of markets across the country, allowing sellers control over their timeline. Zillow Closing Services offers customers title and escrow services to support a more seamless transaction experience. Zillow Home Loans, our affiliate lender, provides our customers with an easy option to get pre-approved and secure financing for their next home purchase.