Connect with us


Zillow bought up too many houses so now it needs to sell 7,000 of them quickly

The platform is targeting investors, hoping to sell the properties as soon as possible.

Zillow app on tablet and smartphone
Image: KnowTechie

Zillow is not only in the business of listing homes for sale by realtors. The platform has also been buying and selling houses for years. Now, the company has bought too many houses so it’s looking to offload around 7,000 houses quickly.

According to a new report from Bloomberg, Zillow is looking to get around $2.8 billion for the 7,000 houses that it is looking to sell. The company is looking to sell the houses to investors, but it is likely that there will be multiple buyers, as opposed to one single sale.

This new revelation comes as the result of a ramp-up in Zillow’s property buying plans. The company uses a high-tech process for buying up properties, known as Zillow Offers.

READ MORE: Just bought a house? This app helps you keep up with home maintenance

Potential sellers can request an offer on their house from the company, and if that offer is accepted, Zillow then purchases the home, makes minor repairs, and puts it back on the market.

This led to the company purchasing thousands of properties (more than 3,800 in the second quarter of 2021 and an estimated 8,000 in the third quarter).

It ran into struggles finding labor to renovate and repair those properties that it had purchased, as lingering effects of the COVID pandemic continue to cripple the workforce.

Now, the company is targeting investors and potential landlords, hoping to remove the renovation responsibility from itself. Additionally, it looks like Zillow is trying to get out of the house-flipping business for good, shutting down its Zillow Offers division completely.

Have any thoughts on this? Let us know down below in the comments or carry the discussion over to our Twitter or Facebook.

Editors’ Recommendations:

Follow us on Flipboard, Google News, or Apple News

Staff writer at KnowTechie. Alex has two years of experience covering all things technology, from video games to electric cars. He's a gamer at heart, with a passion for first-person shooters and expansive RPGs. Shoot him an email at

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Deals of the Day

  1. Paramount+: Live Sports Starting at $2.50/mo. for 12 Mos. Sports - Try It Free w/ code: SPORTS
  2. Save $20 on a Microsoft365 subscription at Best Buy with a Best Buy Membership!
  3. Try Apple TV+ for FREE and watch all the Apple Originals
  4. Save $300 on a Segway at Best Buy, now $699

More in News