iBuyer Offerpad claims profitability, pre-IPO

Housing Wire

The post iBuyer Offerpad claims profitability, pre-IPO appeared first on HousingWire. Brokerage iBuyers IPO / M&A Real Estate Brian Bair HWplus iBuying IPO OfferPad OPENDOOR Spencer Rascoff ZillowOfferpad CEO Brian Bair.

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Zillow earns profit, no thanks to iBuying

Housing Wire

Add it up and the Seattle listings-and-iBuying giant on Wednesday reported $9.6 The post Zillow earns profit, no thanks to iBuying appeared first on HousingWire. Zillow CEO Rich Barton. New quarter, same story. Zillow makes money through agents advertising on its website.

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Better expands real estate, explores iBuying

Housing Wire

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.

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Opendoor, Atlanta, and the future of iBuying

Housing Wire

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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Keller Williams wants to be a different kind of iBuyer

Housing Wire

It can no longer be said that iBuying is merely the domain of venture capital-backed startups or buzzy listings platforms. And then there’s KWx , the parent company of residential brokerage Keller Williams. Raymond “RJ” Jones, head of Keller Offers and Keller Manage.

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These iBuyers are coming to a market near you

Housing Wire

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. RedfinNow , the iBuying platform of Redfin, has expanded into the Baltimore – Washington D.C.

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Rocket announces discount real estate brokerage

Housing Wire

Rocket Homes has plans to start iBuying – and discount real estate. Such are the ambitions of an array of companies today including Zillow and real estate brokerage Compass. The post Rocket announces discount real estate brokerage appeared first on HousingWire.

Spencer Rascoff SPAC to take iBuyer Offerpad public

Housing Wire

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. Under Barton, Zillow has since pivoted hard to iBuying.

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William Raveis ain’t no stinkin’ iBuyer

Housing Wire

Residential brokerage and mortgage lender William Raveis is buying its clients’ homes across New England, the tri-state area and Florida. But don’t confuse its new program with iBuying – they’re looking to solve the sell-before-you-buy dilemma in a different manner.

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Zestimate to double as Zillow’s iBuying offer

Housing Wire

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.

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RedfinNow expands iBuying to Sacramento, California

Housing Wire

Redfin’ s iBuying service RedfinNow has expanded into another new market since it resumed after pausing because of COVID-19. Last month, RedfinNow expanded to Palm Springs, California , its first new market since resuming iBuying in early May.

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Keller Williams hires former eXp, Zillow exec to oversee iBuying

Inman

Raymond "RJ" Jones will spearhead both Keller Offers, the company's iBuying program, and Keller Manage, a soon-to-launch program that'll provide home maintenance services.

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Zillow iBuying program brings real estate transactions in-house by licensing Zillow Homes employees

Housing Wire

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.

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Huge number of homeowners willing to consider an iBuyer: Poll

Inman

Agent Brokerage Select Technology 1000watt brian boero ibuyer ibuying instant cash offer opendoor Zillow82 percent of homeowners in 1000watt survey said they either more likely to trust information from Zillow than from a real estate agent.

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Redfin extends iBuyer service into select areas in Atlanta, Nashville

Inman

With these latest moves, the Seattle-based brokerage is now offering instant cash offers to sellers in 27 markets throughout the country. Brokerage News Brief Select Technology Ansley Atlanta Real Estate atlanta expansion ibuyer nashville Redfin RedfinNow tennessee

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After a pause, iBuyers are back in a big way: Mike DelPrete

Inman

For anyone concerned that the iBuyer model wouldn’t be popular in a seller’s market, the evidence shows that it is resonating with consumers more than ever, and market conditions are in fact fueling its growth.

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The Next Evolution of iBuyers: ‘Power Buyers’

RIS Media

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. The iBuyers are making stronger offers than ever.

Offerpad stock surges on second day of trading as iBuyers see gains

Inman

Offerpad's stock spiked 27 percent on Tuesday before settling back down to $10 per share as investors continued to show interest in iBuyers. Brokerage Industry News Investing Select Technology Websites ibuyer offerpad opendoor Redfin Zillow

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IBuyer transactions return to near pre-pandemic levels

Inman

IBuyer purchases by Redfin, Zillow Offers, Opendoor, Offerpad and Bungalo rose 20% in the first quarter of 2021, but remained down year over year, according to new data. Brokerage Markets & Economy Select Technology Allister Booth bungalo ibuyer offerpad opendoor Redfin Zillow

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RedfinNow becomes first major iBuyer to launch in Chicago

Inman

Brokerage Industry News Technology baltimore boston cash offers chicago ibuyer Jason Aleem Redfin RedfinNow washington d.c.The expansion follows RedfinNow's recent moves into other northeastern markets, including Baltimore, Washington, D.C., and Boston.

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Toronto iBuyer raises $44M with help from Spencer Rascoff, Eric Wu

Inman

Properly is a tech-based real estate brokerage in Canada with a model similar to U.S. iBuyers like Opendoor and Zillow Offers. Brokerage News Brief Select Technology Anshul Ruparell Facebook ibuyer opendoor Properly softbank Wealthsimple Zillow

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Keller Williams Pres. Marc King on a hot market, iBuying and that IPO

Inman

Brokerage Industry News Markets & Economy Select Coronavirus coronavirus pandemic COVID COVID-19 Geico ibuyer ibuying initial public offering ipo keller williams Marc King Mega Camp pandemic Redfin travel

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Redfin CEO reveals iBuyers paid agents less in 2020

Inman

In Atlanta, iBuyers paid buyers' agents 3 percent in 2019. Brokerage Industry News Select atlanta glenn kelman ibuyer Redfin RedfinNow Zillow Zillow OffersIn the fourth quarter of 2020, that dropped to 2.5 percent.

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These brokerages topped the RealTrends 500 in 2020

Housing Wire

reigned supreme as the largest residential brokerage in America by transaction sides last year , according to the latest annual RealTrends 500 ranking. Top independent brokerage Howard Hanna/Allen Tate was involved in 105,455 transaction sides last year, good for $26.7

Zavvie teams up with major indie Midwest brokerage

Inman

Brokerage News Brief Technology cincinnati dayton ibuyer ibuying indiana kentucky lane hornung midwest ohio oregon Robin S. The partnership will give agents at Sibcy Cline Realtors the ability to present a variety of different selling options to their clients.

Realogy iBuyer platform RealSure expands into 6 new markets

Inman

Brokerage Select ibuyer market expansion realogy RealSure RealSure Buy RealSure SellRealSure is now available in six markets across California, Utah and the Carolinas, according to an announcement on Tuesday.

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Colorado brokerage The Group launches guaranteed offer program

Inman

The Group's Zavvie-powered program allows sellers to compare several selling options, including all-cash offers from iBuyers and EasyKnock's MoveAbility. Brokerage Select Technology bridge program guaranteed offers iBuyer offers ibuyers MoveAbility opendoor RedfinNow The Group zavvie Zillow

IBuyer offers are clocking in at an average of 104% of market value

Inman

Amid a highly competitive market in the first half of 2021, iBuyers began making more competitive offers and expanding the range of homes they were willing to purchase.

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What’s the future of iBuyers in light of COVID-19?

Inman

Although no one knows exactly what the future holds for real estate, things seem particularly uncertain for iBuyers. Agent Brokerage Markets & Economy Opinion Select Service bidding war Coronavirus ibuyers iBuyers during COVID-19 Luke Babich offerpad opendoor Redfin seller's market Zillo

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Disruptor Roundup: Rocket Homes Enters iBuyer Space

RIS Media

Real estate companies have begun making their way into the iBuyer space, either through partnerships with companies like zavvie or by launching proprietary programs such as RedfinNow, RealSure and Keller Offers.

iBuying bloodbath drags on as losses mount

Realty Biz

So-called iBuying companies continue to rack up major losses, with the two largest companies in the industry, Opendoor and Zillow, losing a combined $607 million from their business of buying up homes and selling them in 2020.

Spencer Rascoff: iBuyers not to blame for supply shortage

Inman

The former Zillow CEO touched on iBuying, real estate companies going public and "global asset inflation" during a discussion at Connect Now.

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‘I’m not afraid of iBuyers’

Inman

Top Realtor, Jackie Archer, Archer Real Estate Team affiliated with Atlanta Communities Real Estate Brokerage, Metro Atlanta and top leader, Mark Johnson, CEO of JP and Associates REALTORS® brokerage of Texas, came together at Inman's Connect Now to share their five tips for success in 2021.

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iBuyers still on slow road to recovery: Redfin

Inman

iBuyers purchased 0.3 Brokerage Markets & Economy Select atlanta buyer demand charlotte coronavirus pandemic hot markets ibuyers los angeles low inventory markets phoenix raleigh Redfin RedfinNow san antonio shelter in place shutdownpercent of all homes sold across 418 U.S.

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Offerpad is a more profitable flavor of iBuying: Mike DelPrete

Inman

Offerpad's latest financials strongly suggest that a less venture-funded, less tech-enabled, more real-estate focused and less breakneck version of iBuying can be (almost) profitable. Agent Brokerage Markets & Economy Select Service ibuyers ibuying mike delprete offerpad opendoor Zillow