Here'S What Industry Insiders Say About Zillow.
Industry Insiders Say About Zillow. Industry insiders were shocked when Zillow announced earlier this week that it would temporarily suspend its iBuying division, Zillow Offers, until at least the end of the year. Zillow planned to sell 7,000 homes to an unknown buyer - or buyers - for $2.8 billion before the iBuying division shut down, according to Bloomberg. On Monday, Bloomberg reported that Zillow intends to sell 7,000 homes for $2.8 billion to institutional investors in an attempt to free up its real estate portfolio. On October 18, the company announced that its iBuying arm, Zillow Offers, would stop buying homes for the rest of the year. After two turbulent weeks, during which insider analysis showed that of the nearly 1,000 recently listed homes for sale by Zillow in the five largest markets, 64% were selling for less than what the company paid for them, there was a pause. in full formwork Zillow Offers. Zillow, a digital real estate company, said Tuesday it i...