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

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

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

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

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

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

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

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

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

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

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

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

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

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 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

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

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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The American Genius for Real Estate

OCTOBER 28, 2021

The post The pending demise of iBuying real estate brokerages appeared first on The American Genius Real Estate. The iBuying model is under speculation from regulatory bodies, and how they represent themselves to the public could be their undoing.

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Housing Wire

MARCH 7, 2024

Proptech company and iBuyer Opendoor is no longer facing the allegations of a copycat commission lawsuit. Thus far, Opendoor is the only iBuyer to be named in a commission lawsuit, and the Whaley suit was the only suit in which the firm was named. Originally filed in the U.S.

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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 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

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

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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RISMedia

JUNE 24, 2022

By Paige Tepping During RISMedia's recent webinar—"Do You Need an iBuyer Offering? The post Webinar Recap: Pros and Cons of iBuying Offerings for Your Brokerage appeared first on RISMedia's Housecall.

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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.

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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.

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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 Trends

JANUARY 23, 2023

What are you seeing out there, whether it’s through consumer services, or how brokerages are embracing the consumer? We are actually focusing on providing services for the consumer, both at the brokerage level and giving the agents tools to provide better value to the consumer. Brokerages are bundling it into a one-stop shop.

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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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RIS Media

SEPTEMBER 2, 2021

In addition to the well-known iBuyers, these include a more recent category of companies such as EasyKnock, Homeward, Knock and Ribbon. zavvie facilitates thousands of agent requests for Power Buyer and iBuyer offers each month. zavvie facilitates thousands of agent requests for Power Buyer and iBuyer offers each month.

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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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Real Estate News

OCTOBER 26, 2023

The iBuyer will send potential sellers leads to the brokerage company, while Anywhere agents can present their sellers with a cash offer from Offerpad.

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RIS Media

APRIL 11, 2022

According to our latest zavvie Seller Preferences Report, iBuyers rebounded last year, increasing business fivefold year-over-year during an historic seller’s market. ” iBuyers registered a breakout year in 2021. Collectively, iBuyers purchased more than 71,000 homes in 2021, about a 1.3% national marketshare.

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Housing Wire

MAY 31, 2022

The chief executive officer for real estate brokerage Side announced a fresh $50 million in venture capital money spearheaded by ultra-prolific financier Tiger Global Management. For many years, everyone thought brokerage was ripe for major disruption,” said Gilles Duranton, real estate professor at the University of Pennsylvania.

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RISMedia

FEBRUARY 18, 2021

The post Webinar Recap: How to Include iBuying in a Full-Service Brokerage Model appeared first on RISMedia's Housecall. For the real estate professionals who connected on RISMedia's most recent webinar, it's clear that homebuyers will search out the services that best meet their needs. During RISMedia's […].

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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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RIS Media

MARCH 4, 2022

Regardless of how you feel about iBuyers, they’ve shown that the business model has legs in residential real estate. “It’s time to think differently about the iBuyers,” says Stefan Peterson, zavvie chief data officer and co-founder. . ” Product Diversification.

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