Hat tip to RK for sending in this article – an excerpt:
I asked a realtor there that I know to do a CMA on the property. When she was done, her number came out to $460,000. Zillow’s offer was $440,000. This is where things got interesting. Their pitch is that with Zillow’s service, you would be provided with a dedicated selling advisor, the ability to sell without showings, the buyer would make repairs, and you get to choose your closing date. Zillow then proceeds to inform you, the client, that “all you receive” in a traditional sale is a dedicated selling advisor. When you continue to scroll down, Zillow quotes the average realtor’s commission at 6% and then says their Zillow Service Charge is 12.9%. To their credit, they don’t hide the fact that you will pay substantially more money using their service. At the bottom of the email, it estimated my net proceeds would be $383,240 using Zillow, and if I used a realtor proceeds would be roughly $413,600.
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