Zillow announced last week that Denver will be the 4th city in which homeowners can ask Zillow to make them a cash offer for their home. Within 2 days of receiving the offer Zillow will make a no-obligation cash offer or they will pass. If the offer is accepted Zillow buys the home, prepares it for sale, and then lists the property for sale.
Zillow says they will still pay agents their commission fees on both sides of the transaction. Three local real estate companies are partnering with Zillow in Denver—8z Real Estate, Berkshire Hathaway Homeservices Innovative RE, and RE/MAX Alliance and their agents will have the first opportunities to get the listing if they are a Premiere Agent with Zillow.
Where this option might come in handy I think is for a homeowner who needs to sell their home NOW due to a contingency clause in the contract for their new home. A second opportunity is with estates who want to sell quickly and easily. A third option is with older homeowners who have very dated homes.