Housing Wire

NOVEMBER 15, 2021

Fast forward to today, and alternative valuation models – redubbed automated valuation models or AVMs – are deployed to extend credit, appraise a home, and – in the case of iBuyers – even guide when to purchase a home for cash that might be profitable to resell. Both are scaling up rapidly. Opendoor posted a 91% revenue increase to $2.3

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Housing Wire

SEPTEMBER 2, 2021

The post iBuyer Offerpad goes public at $2.7B Offerpad’s transition escalates the rivalry between Rascoff and his former company Zillow. It also nudges Offerpad from intriguing upstart to another business vying to move iBuying from dazzling concept to profit making enterprise. Offerpad turned a $9.2 valuation appeared first on HousingWire.

Marketing 421

Marketing Technology Development 421

Housing Wire

MARCH 2, 2022

So-called iBuyers purchased a total of 70,402 homes in 2021, more than doubling the number purchased in 2019, according to a report from Zillow released on Tuesday. Homeowners in Atlanta sold the most homes using an iBuyer, followed by Phoenix, Dallas-Fort Worth, Charlotte and Houston, according to the Zillow report.

Mortgages 370

Mortgages Sales Marketing Investor 370

Housing Wire

MARCH 28, 2022

And now, we’ve seen most of these early digital innovators, plus new startups and more traditional players, like Keller Williams (through Keller Offers ), broaden their scope with technology to become early iBuyer leaders. iBuyers are property companies that do the buying and selling of a home digitally. alone is worth about $40T.

Marketing 384

Marketing Closing costs Title Finance 384

Housing Wire

SEPTEMBER 11, 2020

The second quarter was a tough one on iBuyers, as only 0.1% of the homes sold across 418 metros — only 880 homes total — were purchased by top iBuyers Redfin , Zillow , Opendoor and Offerpad , according to a report by Redfin. Phoenix had the most significant slump in the iBuyer market share in Q2. iBuyers there acquired 0.8%

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MLS Agents Marketing Sales 440

Housing Wire

JUNE 25, 2021

Per a recent report from Redfin , the typical iBuyer-owned home found a buyer after 13 days on the market — the quickest pace since at least 2015, when Redfin began recording iBuyer data. The top quarter of iBuyer activity remains the third quarter of 2019 when, according to Redfin, 8,310 homes were bought via iBuyers.

Mortgages 428

Mortgages Renovation Equity Marketing 428

Housing Wire

NOVEMBER 2, 2021

Barton, who took over Zillow from Spencer Rascoff in early 2019, and spurred Zillow’s reinvention as an iBuyer, was evidently rattled during Tuesday’s call. The company reported $1.73 billion in total revenue with 68% of the total coming from Zillow Offers, through which the company sold 3,036 homes in the third quarter.

Agents 397

Agents Mortgages Closing Marketing 397

Housing Wire

MARCH 18, 2021

Savor the irony: A blank-check company started by Spencer Rascoff is bringing an iBuyer, Offerpad, public. The deal will provide the iBuyer with “up to $650 million in gross cash proceeds,” per the release. The post Spencer Rascoff SPAC to take iBuyer Offerpad public appeared first on HousingWire. Presented by: Propertybase.

Loan Officer 432

Loan Officer Brokerage Agents Loans 432

Housing Wire

DECEMBER 2, 2021

Zillow said Thursday that more than 50% of its remaining iBuying inventory “has sold, is under contract to sell or has reached agreement on disposition terms.”. Also, the company’s board of directors authorized the repurchase up to $750 million in shares of Zillow stock, according to a press release. billion as of Sept.

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Purchase and sale agreement Investor Agents Sales 432

Housing Wire

NOVEMBER 10, 2021

“I think the news that came out was shocking to a lot of people,” Bair said on Wednesday’s third quarter earnings call, in which the iBuyer sold 1,673 homes across 21 markets, down from 2,025 in Q2. The post Offerpad says it’s cracking the iBuyer code appeared first on HousingWire. Become a member today.

Technology 370

Technology Industrial As-is Marketing 370

Housing Wire

OCTOBER 18, 2021

Can independent real estate brokerages outperform iBuyers? Offerpad’s ibuyer operations are running as smoothly as ever,” said a company spokesperson. Three years ago, Zillow dramatically transformed into a company that primarily does instant homebuying, or iBuying. billion in unsold home inventory. Overall, Zillow reported $9.6

Renovation 384

Renovation Agents Brokerage Construction 384

Housing Wire

DECEMBER 4, 2020

iBuyer purchase volumes were significantly lower during the third quarter this year than they were pre-pandemic, according to zavvie ‘s inaugural Seller Preference Report. In Q3, iBuyer purchases dropped 82% year over year. The report said that collectively, iBuyers have been purchasing homes at an average 95.5%

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Marketing As-is 427

Housing Wire

MARCH 19, 2021

A fury of iBuyer expansion hit the industry this week, with Redfin and Opendoor announcing new locations and Offerpad announcing Thursday it will go public. The company’s iBuyer platform is already available in Arizona, California, Colorado, Texas and Washington.

Marketing 410

Marketing Rent back Brokerage Equity 410

Housing Wire

NOVEMBER 22, 2021

The main remaining iBuyers – Opendoor and Offerpad – are growing fast but report net losses. The main remaining iBuyers – Opendoor and Offerpad – are growing fast but report net losses. Realogy says it is real serious about its two-year-old iBuying division, RealSure. And that was impetus for hiring for me, for hiring a CEO.

Agents 364

Agents Brokerage As-is Marketing 364

Housing Wire

AUGUST 7, 2020

But as COVID-19 put a damper on real estate markets throughout the nation, it also impacted iBuyers, which paused their purchasing operations to re-assess local housing market conditions and establish new safety protocols. The post iBuyers: Did COVID-19 disrupt the disruptors? Friedman HW+ Columnist. Already a member?

Marketing 426

Marketing Industrial As-is 426

Housing Wire

AUGUST 19, 2021

Wallace, a former regional sales manager for iBuyer Opendoor , said that Better would provide more details on the instant homebuying program in the coming weeks. The seven-year-old, New York City-based company will also soon provide an instant cash offer program to homesellers, said Christian Wallace, Head of Real Estate Services at Better.

Brokerage 384

Brokerage Agents Mortgages Branding 384

Housing Wire

AUGUST 5, 2021

New quarter, same story. Zillow makes money through agents advertising on its website. It loses money via buying homes for cash and then reselling them. Add it up and the Seattle listings-and-iBuying giant on Wednesday reported $9.6 million in net income for the second quarter of 2021, and $1.3 billion in revenue. Become a member today.

Agents 397

Agents Sales As-is Brokerage 397

Housing Wire

AUGUST 20, 2021

The Texas-headquartered franchise behemoth says its “agent-centric” iBuyer model, known as Keller Offers, is genuinely different than its competitors: theirs is the only one that has a fiduciary duty to its agents’ clients. The post Keller Williams wants to be a different kind of iBuyer appeared first on HousingWire.

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Agents Brokerage Renovation Residential 370

Housing Wire

AUGUST 16, 2021

The post iBuyer Offerpad claims profitability, pre-IPO appeared first on HousingWire. Exclusive access to the HW+ Slack community and virtual events. HousingWire Magazine delivered to your home or office. Become a member today. Already a member?

Brokerage 397

Brokerage 397

Housing Wire

NOVEMBER 2, 2021

Exclusive access to the HW+ Slack community and virtual events. HousingWire Magazine delivered to your home or office. Become a member today. Already a member? The post How Zillow’s model crushed its iBuying business appeared first on HousingWire.

Sales 507

Sales As-is Marketing 507

Housing Wire

MAY 7, 2021

Between April 2020 and the end of March this year, Opendoor , an iBuyer but also a residential brokerage, sold 1,613 homes listed on First Multiple Listings Service , the greater Atlanta region’s National Association of Realtors’ endorsed spot for home listings. Led by CEO Eric Wu , Opendoor is arguably normalizing iBuyers in real estate.

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Brokerage Agents Residential Sales 372

Housing Wire

APRIL 9, 2021

” He added: “We’re giving them 100% of the value creation so they make out better in the end, as opposed to an iBuyer program where it’s their business model to buy low and sell high and make the difference in between. . The post William Raveis ain’t no stinkin’ iBuyer appeared first on HousingWire.

Mortgages 410

Mortgages Brokerage Equity Agents 410

Housing Wire

AUGUST 11, 2020

Lucie, Florida, as the first iBuyer in the region. Offerpad announced on Tuesday the expansion of its Real Estate Solutions Center into Port St. The company resumed making cash offers in different parts of the country on May 8. Those options include selling the home instantly to Offerpad or partnering with Offerpad to list the home.

New Construction 384

New Construction Construction Closing Marketing 384

Housing Wire

FEBRUARY 25, 2021

The firm’s announcement is an intriguing turn, because it folds up two company priorities into one – boosting consumer faith in the Zestimate, and highlighting Zillow Offers , the company’s instant homebuying, or ibuying, platform. home last year at $7 million more than its Zestimated price.).

Loan Officer 396

Loan Officer Brokerage Agents Loans 396

Housing Wire

OCTOBER 9, 2020

Redfin’ s iBuying service RedfinNow has expanded into another new market since it resumed after pausing because of COVID-19. As of Friday October 9th, Sacramento, California homeowners can sell their homes and get a cash offer via RedfinNow. Redfin also recently launched a program for homebuyers to tour homes on their own.

Brokerage 296

Brokerage Agents Marketing Sales 296

Housing Wire

SEPTEMBER 23, 2020

The iBuyers are quickly becoming all-in-one-buyers. Zillow isn’t the only iBuyer reaching into the broker business. Customers in Atlanta, Phoenix and Tucson who sell their homes via the iBuying solution will work directly with licensed employees of Zillow Homes, its brokerage entity.

Brokerage 384

Brokerage MLS Agents Mortgages 384

Housing Wire

AUGUST 18, 2020

The iBuyer first paused its acquisitions in March as a result of COVID-19, and has since relaunched in Phoenix , Raleigh-Durham, Dallas-Fort Worth, Atlanta, Charlotte, Nashville and Tucson. Opendoor has resumed operations in all 21 of its markets as of Tuesday.

Marketing 353

Marketing Sales As-is 353

RIS Media

OCTOBER 4, 2023

As the aftermath of an iBuyer boom-and-bust continues to play out, market leader Opendoor appears to be pivoting toward closer partnerships with the traditional real estate industry, announcing this week a new partnership with eXp intended to be the “first step of a broader relationship.”

Industrial 106

Industrial Marketing Agents Technology 106

RIS Media

NOVEMBER 3, 2023

For iBuyer Opendoor, “progress” in its third quarter earnings report came in the form of announcing a loss of “only” $106 million, unquestionably better than the nearly $1 billion lost in Q3 2022. But even while bringing… The post Q3 Profits Slammed Shut on Opendoor Even as iBuyer Trims Overall Losses appeared first on RISMedia.

Industrial 91

Industrial 91

Housing Wire

OCTOBER 26, 2023

Real estate conglomerate Anywhere is teaming up with Offerpad to expand the iBuyer ‘s services nationwide, according to an announcement on Thursday. Opendoor, the larger of the two publicly traded iBuyers, announced its own partnership with Zillow in 2022. Offerpad operates in 14 states.

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Agents Marketing Branding Development 407

Real Trends

APRIL 7, 2023

Despite some iBuyers attempting to reinvent themselves, succeeding will be difficult unless they make fundamental changes to their model. One of the trends over the past several years has been iBuying, where companies called iBuyers offer sellers so-called instant offers to buy their homes. Some iBuyers had initial successes.

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Agents Sales Marketing Closing 83

Inman

APRIL 12, 2023

IBuyers like Opendoor and Offerpad once appeared poised to be an essential player in the nation's biggest housing markets. Now, real estate agents say their role has diminished dramatically.

Agents 141

Agents Marketing Technology 141

Inman

MAY 10, 2023

The dominant iBuyer has taken extraordinary steps to survive this period of upheaval, writes real estate analyst Mike DelPrete, who dug deeper into last week's Q1 earnings exclusively for Intel.

Technology 133

Technology 133

Inman

MARCH 16, 2023

The newest Inman Access classes are live! Watch experts discuss the latest iBuying trends, mastering branding and positioning, and tactics to secure listings in a competitive market.

Branding 145

Branding Marketing Brokerage Agents 145

Broke Agent Media

JANUARY 10, 2023

Anywhere also announced the end of RealSure, joining Zillow and Redfin by shutting down its iBuyer. Perhaps not surprisingly, Anywhere’s layoffs coincide with the end of its iBuyer, RealSure. . End of Another iBuyer. Anywhere is not the first to shut down its iBuyer. Anywhere Real Estate, Inc. Never a Disruption.

Agents 89

Agents Industrial Closing Marketing 89

RIS Media

JANUARY 18, 2022

“We’re going to probably weed out some of these iBuyers, which you’ve already seen.” Despite the companies shrugging off speculation regarding the business model’s sustainability, there are still real estate experts delving into the potential role that iBuyers will play in real estate in the long run.

House Flipping 101

House Flipping Brokerage Agents Mortgages 101

Real Trends

JANUARY 19, 2023

That type of market makes instant cash offers from iBuyers much less valuable, and yet, iBuyers nearly tripled their market share in that time period.” Austin-based property and financial technology company homebldr has launched a new iBuying solution, according to an announcement on Thursday.

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Renovation Agents Days on market Finance 92