Silicon Valley Is Coming for Your House | NYT

Later in the article: "“Where you are able to make money is through mortgage origination,” said Svenja Gudell, Zillow’s chief economist. “That’s why we own a mortgage company.”"

"Established companies like Zillow and venture-backed upstarts like Opendoor and Offerpad have raised billions of dollars on the promise that they can use sophisticated algorithms to predict the value of individual homes. They contend that those predictions, combined with old-fashioned economies of scale, will allow them to be far more efficient than traditional home flippers.

The companies and their backers say they are doing what tech is best at: bringing efficiency and convenience to a process not known for either. Silicon Valley has already upended the way we hail a cab and order takeout, they argue. Why not improve a transaction that even well-educated professionals find intimidating?"

Silicon Valley Is Coming for Your House | NYT