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DataDigest: iBuyers slide farther from hyped market disruption

Housing Wire

Offerpad is an instant buyer, or iBuyer, a company that gives sellers cash offers for their homes and attempts to resell the homes for a profit, sometimes after making renovations. iBuyers have consistently produced steep losses as the companies seek to establish national footprints. Opendoor lost about $1.4 billion last year.

Marketing 421
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How does the “buy before you sell” model differ from iBuyers and Power buyers?

Housing Wire

The original model was pioneered by the iBuyers and is historically the most expensive model for consumers. The second stage was pioneered by real estate agents that saw how hard the consumer experience was first-hand, so they created the PowerBuyer model to address those issues with less cost relative to iBuyers.

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Better expands real estate, explores iBuying

Housing Wire

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. But since agents are usually independent contractors, who in many cases pay the brokerage to use their branding and resources, the company’s financial commitment is often unclear.

Brokerage 384
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Watch Now: iBuying, positioning your brand and winning listings

Inman

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

Branding 148
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Offerpad, Anywhere team up to expand iBuyer’s reach

Housing Wire

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.

Branding 409
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What are you wearing to the Offerpad profitability party?

Housing Wire

Our brand awareness is market specific,” Bair said. Brand awareness in newer markets is not what it needs to be.”. Offerpad CEO Brian Bair. Get out the streamers and kazoos and start preparing the hors d’oeuvres – an iBuying company has reported a year’s worth of profitability. Offerpad Solutions generated $6.5 million in 2020.

Branding 370
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Where Is iBuying Headed?

RIS Media

“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.