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.

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Housing Wire

FEBRUARY 18, 2022

You can’t please all the people all of the time, but Redfin is a unique real estate brokerage , an instant homebuyer, a popular listings website, a platform for renters, a mortgage company, a title company, a concierge service, and a research service on the U.S. housing market. What does that all add up to? When in doubt we go low.”.

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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.

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Housing Wire

APRIL 9, 2021

Residential brokerage and mortgage lender William Raveis is buying its clients’ homes across New England, the tri-state area and Florida. In the latest RealTrends 500 ranking , William Raveis placed ninth among real estate brokerages with $16.2 The Connecticut-headquartered brokerage is the biggest player in New England.

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Housing Wire

AUGUST 19, 2021

Better.com , a digital mortgage lender that is set to go public later this year, unveiled Thursday another expansion of its in-house real estate group , one that has a unique business model in the world of brokerage. Real estate brokerages announce geographic expansions all the time. Become a member today. Already a member?

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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.

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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

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Housing Wire

FEBRUARY 25, 2021

Successful agents, brokerages and loan officers of the future are going to rely significantly on technology to find, nurture and engage with buyers and sellers while also playing an expanding role as personal advisors. home last year at $7 million more than its Zestimated price.).

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Housing Wire

AUGUST 11, 2021

Such are the ambitions of an array of companies today including Zillow and real estate brokerage Compass. Such are the ambitions of an array of companies today including Zillow and real estate brokerage Compass. Rocket also announced Wednesday a “soon to-be-released iBuyer program, facilitated through third-party partner companies.”.

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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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Housing Wire

AUGUST 5, 2024

Brokerage stocks were especially mixed. The Real Brokerage and Anywhere fell by 5.2% iBuyer pioneer Opendoor posted a staggering 8.1% Rocket Mortgage, which has a huge refinance business, added 3% in value. loanDepot rose 2.3% RE/MAX shed 4.7% ahead of its earnings call on Thursday. and 3.1%, respectively, but eXp (0.8%

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Housing Wire

OCTOBER 9, 2020

In a competitive real estate market like Sacramento, RedfinNow is also a great solution for our brokerage customers who need the cash from their current home to buy their next home.” Redfin’ s iBuying service RedfinNow has expanded into another new market since it resumed after pausing because of COVID-19.

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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.

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Housing Wire

SEPTEMBER 23, 2020

The iBuyers are quickly becoming all-in-one-buyers. 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. Zillow isn’t the only iBuyer reaching into the broker business.

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Housing Wire

MARCH 25, 2021

reigned supreme as the largest residential brokerage in America by transaction sides last year , according to the latest annual RealTrends 500 ranking. But such activity didn’t result in more sales volume than its chief rivals, publicly traded brokerage colossus Realogy or controversial New York upstart Compass. It notched $151.7

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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 is the biggest brokerage in the country by sales volume, per RealTrends figures.

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Housing Wire

AUGUST 20, 2021

And then there’s KWx , the parent company of residential brokerage Keller Williams. 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.

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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.

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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?

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Housing Wire

SEPTEMBER 28, 2020

based brokerage, announced last week the launch of its custom real estate listing system, PROJETO. Over the last few months, iBuyers and brokerages alike have launched solutions to keeping business going during the pandemic, including virtual home tours , 3D home tours and hosting virtual open houses.

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Housing Wire

MARCH 27, 2024

Brokerages took notice, resulting in a surge in companies and office locations competing for their share of listings, according to CoreLogic multiple-listing service data shared exclusively with HousingWire. In this environment of high rates and tight inventory, brokerages have had to become sharp elbowed.

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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.

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Housing Wire

APRIL 24, 2024

It is unsurprising, then, that Texas has seen a boom in new real estate brokerage offices in the past five years. 1 brokerage by listing count from 2019 through 2023. The top 10 brokerages in Dallas by listing count were responsible for 12,145 listings in 2023. of the MLS listings held by these brokerages in 2019 to 7.2%

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Housing Wire

FEBRUARY 12, 2025

This is the sixth round of layoffs at Redfin since June 2022, when Redfin laid off 500 employees as the housing market began to turn. It then cut another 862 positions in November 2022, partially due to the shutdown of its iBuying program. Prior to the January 2025 layoffs, Redfin last laid off 82 employees in August 2024.

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Housing Wire

MARCH 25, 2021

reigned supreme as the largest residential brokerage in America by transaction sides last year , according to the latest annual ranking by Real Trends. But such activity didn’t result in more sales volume than its chief rivals, publicly traded brokerage colossus Realogy or controversial New York upstart Compass. It notched $151.7

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Housing Wire

SEPTEMBER 11, 2020

Like other iBuyers, Opendoor has experienced a choppy 2020. But it remains the biggest player in a blossoming segment of real estate, in which tech-fueled companies – and even traditional brokerages – aspire to have a hand in every element of the home buying process. A representative from Opendoor declined to comment on the report.

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Housing Wire

NOVEMBER 5, 2021

Instant homebuyer Opendoor has acquired “tech”-focused mortgage brokerage RedDoor , the companies announced Friday. Founded in 2018 and headquartered in Sacramento, RedDoor calls itself a “digital first mortgage brokerage” that can preapprove a loan applicant “within 60 seconds,” likely what was appealing to the iBuyer.

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Housing Wire

MARCH 15, 2021

Also, we figured they would wake up one day, and say, ‘Hey, we’re a brokerage.’”. Last fall, Zillow opened brokerages in Atlanta, Phoenix, and Tucson, which focus on finding new buyers for Zillow Offers-purchased homes. “We used to attribute 25% of our business to Zillow,” Herrera said. But Zillow has changed.

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Housing Wire

AUGUST 4, 2023

Redfin was in the red yet again in the second quarter , but its losses are narrowing and it’s tweaking its unique brokerage model to court more experienced agents in pricey coastal areas. The brokerage and portal’s real estate services division, its principle source of revenue, dropped to $180.6 million, down from $606.9

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Housing Wire

FEBRUARY 24, 2022

Opendoor’s losses came after iBuyer Offerpad announced it made $6 million in net income for 2021. But like real estate brokerage Compass , another company significantly financed by the SoftBank Vision Fund , Opendoor has constructed an empirically money-losing business model with little sign of reversing course. The company tallied $8.0

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Housing Wire

OCTOBER 6, 2020

” On August 28, the iBuyer launched a brokerage. 18, Opendoor has resumed iBuying in all 21 of its markets following a pause due to COVID-19. In the filing, Opendoor said “we are just scratching the surface today. We believe we have a massive opportunity to expand our to reach the top 100 markets in the United States.”

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Housing Wire

NOVEMBER 5, 2021

Redfin CEO Glenn Kelman doesn’t believe that iBuying is going away, but he does believe that his brokerage needs to be smart in how it incorporates iBuying into its larger suite of real estate services. The answer is that Redfin isn’t an iBuying company at all; it’s part of what we do, but it’s not who we are.

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Real Estate News

JULY 18, 2024

Watch the conversation as Lane Hornung of zavvie and 8z explains what agents need to know about “power buying” and innovations in financing to show real value.

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Housing Wire

DECEMBER 8, 2020

We’re the only national brokerage working to offer home sellers a complete range of options to meet their needs.” Redfin announced on Tuesday that its iBuying arm, RedfinNow, has entered the Seattle and San Francisco metro housing markets. RedfinNow most recently launched in Sacramento in October.

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Housing Wire

OCTOBER 3, 2023

The iBuyer announced that it was teaming up with eXp Realty on Tuesday. In 2022, eXp Realty agents closed 397,138 transaction sides , earning it the top spot for transaction sides in the 2023 RealTrends 500 brokerage rankings.

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Housing Wire

FEBRUARY 10, 2021

The splashy buy further situates Zillow as more than a website with pictures of homes for sale, but a competitor to real estate brokerages. The Seattle-based company announced in September Zillow Homes, a traditional brokerage business, hiring agents in Phoenix, Tuscon, and Atlanta. and Canada use their software.

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Housing Wire

SEPTEMBER 15, 2020

Last month, the iBuyer resumed operations in all 21 of its markets after pausing in March as a result of COVID-19. Opendoor also launched a brokerage last month. iBuying platform Opendoor said it will merge with Social Capital Hedosophia Holdings Corp. billion and provides it with up to $1 billion in cash proceeds.

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