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Browse the siteJune 07 2022
The way Americans buy and sell real estate is changing forever as new, innovative solutions are now available nationwide.
iBuyers provide sellers with instant offers. Power Buyers employ "cash offers" and "buy before you sell" bridge solutions for home buyers. Rent-to-own programs create new buyers and expand the marketplace. Presale renovation services help sellers maximize their profits. All these new problem-solvers are finding growing consumer demand and high acceptance.
In a first-of-its-kind report, zavvie explores the new "Modern Marketplace" for real estate fully, detailing the explosive growth of these businesses. The zavvie Modern Marketplace Report examines the changes in the real estate landscape throughout the U.S. during the first quarter of 2022.
A software technology company that provides real estate brokerages with a marketplace for buying and selling solutions via white-labeled platforms, zavvie is replacing its highly popular Seller Preferences Report with this new study, expanding the company's already deep insight into these innovative services.
"Not too long ago, options for home sellers and buyers were scarce," noted Stefan Peterson, zavvie Chief Data Officer and co-founder. "Sellers had one option: list on the open market. Buyers had two: pay cash or get a traditional mortgage loan. Today, the landscape has been modernized and is radically different," he added.
Among the new study's findings in Q1 2022:
One of the most significant trends emerging from the zavvie report is the continued expansion of the Modern Marketplace, particularly among Power Buyers. Knock reported its transaction volume was up 307%. UpEquity saw year-over-year revenue growth surge to 500%. EasyKnock increased its customer base by 200% last year, and Homeward reported 375% growth in homes under contract.
Peterson notes that the common thread among all the Modern Marketplace choices is high customer satisfaction.
"Ultimately, the consumer will determine if a business is delivering good value," he said. "The vast majority of consumers who have used one of the Modern Marketplace solutions are glad they did and would do it again."
The zavvie Modern Marketplace Report is the first review of its kind, covering every selling and buying solution, including iBuyer, Power Buyers, Listing Concierge, and Homeowner Accelerators, available to homeowners and buyers throughout the U.S. It examines offer strength, offer acceptance rates, service fees, market availability, buy boxes, average concessions, and more. The complete zavvie Modern Marketplace Report is free at zavvie.com/modern-marketplace-report.