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. Beyond just a record number of purchases by the iBuying companies, the number of completed home sales (44,933) also exceed the previous high from 2019 (28,265).

Sales 370

Sales Construction Investor Closing 370

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

Brokerage 370

Brokerage Sales Agents Closing 370

Housing Wire

OCTOBER 9, 2020

“We’re excited to be able to provide a safe and convenient way for people to get a competitive cash offer for their home, allowing them to sell on their timeline without having to worry about getting their home ready for sale or having strangers come through,” Aleem said. .

Brokerage 309

Brokerage Agents Sales Marketing 309

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. of the sales price. The post Rocket announces discount real estate brokerage appeared first on HousingWire.

Brokerage 421

Brokerage Agents Lending Finance 421

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.). Presented by: Propertybase. of the time, within 10% 75.6%

Loan Officer 397

Loan Officer Technology Brokerage Loans 397

Housing Wire

NOVEMBER 15, 2023

However, as mortgage rates stabilize and home sellers adapt, “Existing-home sales will rise by 15% next year,” Yun said. By the end of 2023, year-over-year home sales will likely fall by 18% after a 17% decline from 2021 to 2022, Yun noted. In 2023, new-home sales are up 5% year to date, Yun said.

Sales 458

Sales New Construction Staging Mortgages 458

Housing Wire

DECEMBER 2, 2021

As to Zillow’s return on these sales, the spokesperson referred back to a statement last month that the company expects a 5-7% loss on resales compared to the purchase price. 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.”.

Purchase and sale agreement 432

Purchase and sale agreement Investor As-is Industrial 432

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.

Brokerage 491

Brokerage Residential MLS Sales 491

Housing Wire

AUGUST 5, 2021

The instant homebuying program netted 1,975 sales in the first quarter. 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 billion in revenue. home listings site.

Agents 397

Agents Sales As-is Brokerage 397

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.

Brokerage 384

Brokerage MLS Title Agents 384

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.

Brokerage 357

Brokerage Residential MLS Sales 357

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.

Purchase and sale agreement 397

Purchase and sale agreement Loan Officer Brokerage Loans 397

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 sales closed in the third quarter have averaged 101.1% million of revenue in the third quarter, up from $19 million last year. “In

Renovation 369

Renovation Brokerage Agents Mortgages 369

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.

Brokerage 384

Brokerage Investor Technology Industrial 384

Housing Wire

FEBRUARY 24, 2022

Opendoor’s losses came after iBuyer Offerpad announced it made $6 million in net income for 2021. billion revenue, which mostly stems from a 5% sales fee charged to home sellers and proceeds from flipping homes. Opendoor’s losses did come amid massive growth. The company tallied $8.0 Wu did not answer.

Title 432

Title Investor Finance Brokerage 432

HomeLight

APRIL 15, 2022

They decide to look into “What is an iBuyer?” After some email back-and-forth, they get their final iBuyer offer: Offer details: 98% of what a real estate agent estimated they could earn, minus a 5% service fee, a $2,000 repair credit, and 1% in closing costs. . What is an iBuyer? What does iBuyer stand for?

Title 94

Title House Flipping Title search Sales 94

Housing Wire

FEBRUARY 18, 2022

The record climb in home sales and staggering increase in home price has not necessarily translated into success for the biggest U.S. Brokerage and franchise conglomerate Realogy reported its yearly financials Thursday, and the Madison, New Jersey-headquartered company tallied $343 million in net income for 2021. Once the $4.8

Fixed-rate mortgage 397

Fixed-rate mortgage Brokerage Residential Sales 397

Housing Wire

JANUARY 11, 2022

The acquisition is intended to enable Seattle-based Redfin to expand its loans products nationally, as it wants to be a one-stop-shop for brokerage and lending. But Redfin is first eliminating 121 mortgage roles, less than 2% of the total staff, mainly in sales support, capital markets, and operations.

Equity 466

Equity Purchase and sale agreement Loan Officer Lending 466

Realty Biz

MARCH 14, 2021

Homeonwers can request an instant offer on their home and then sell it to the iBuyer immediately if they decide to accept it. The iBuyer will then renovate the home if necessary, and then try to sell it on at a profit. As such, few buyers are willing to lose money on the sale of their home just to obtain that cash a few days faster.

Pre-approval 102

Pre-approval Home sale contingency Title Renovation 102

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.

Title 98

Title House Flipping Finance Industrial 98

Housing Wire

NOVEMBER 17, 2020

The participating brokerages give homeowners the ability to see offers from iBuyers buy-before-you-sell options from bridge solution providers and compare that to the sales price with an open market listing. Real estate tech company Homie has launched its brokerage services in the Denver Metro region.

Brokerage 364

Brokerage Title Branding Agents 364

Real Trends

DECEMBER 6, 2022

Seattle-based Windermere Real Estate has launched Windermere Offers, a program that allows the brokerage’s clients to see iBuyer offers on their home in addition to more traditional offers. The program is powered by zavvie , a real estate software company whose white-label platform helps sellers compare offers from iBuyers.

Brokerage 52

Brokerage Agents Technology Sales 52

RIS Media

APRIL 18, 2021

The growing footprint of iBuyers in real estate has presented challenges that real estate professionals are still trying to address in the marketplace. Four dynamic brokerage executives discussed the topic at length during a break-out session of RISMedia’s “ Spring Into Action ” virtual event. Lennox Scott said.

Agents 98

Agents Development Brokerage Technology 98

Housing Wire

AUGUST 11, 2021

home sales , per a Redfin report in June. “We think it’s mainstream,” Opendoor CEO Eric Wu said of his company’s instant homebuying platform. All the homeowners crave what we’re offering.”. Over the long haul,” Wu added, regarding iBuying. “We We think it will be the majority of transactions.”.

Sales 458

Sales As-is Brokerage 458

Realty Biz

JANUARY 15, 2021

iBuying companies are experiencing a slump in sales during a time when many thought the opposite might happen, as they provide a contactless way to sell a home. When the COVID-19 pandemic emerged last spring, most iBuyers, which buy and resell homes electronically, halted their businesses.

Marketing 80

Marketing Title Brokerage Sales 80

RIS Media

AUGUST 12, 2021

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. The post Disruptor Roundup: Rocket Homes Enters iBuyer Space appeared first on RISMedia.

Branding 98

Branding Title Agents Brokerage 98

Housing Wire

FEBRUARY 23, 2022

This gross revenue sum includes fees Offerpad charges consumers, plus money from home sales. 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. Offerpad also posted $2.1

Branding 370

Branding Marketing As-is Sales 370

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.

Brokerage 531

Brokerage Agents Industrial Development 531

Housing Wire

DECEMBER 27, 2021

Because of that, and several other reasons, gross margins for real estate brokerage firms are declining with no real end in sight. for the largest brokerage companies in the United States. The first cause of the decline is the growth in competition for productive agents and a variety of new brokerages. Now, they’re at 13.5%

Brokerage 397

Brokerage Finance Short sale Agents 397

HomeLight

APRIL 29, 2022

Disclaimer: iBuyer company program details can frequently change. If you’re planning to sell your home in 2022, you may be weighing the possibility of working with an iBuyer such as Offerpad and be curious to learn more about this option. In addition to Offerpad, other notable iBuyers include Opendoor and RedfinNow.

Purchase and sale agreement 95

Purchase and sale agreement Closing costs Closing Staging 95

Housing Wire

NOVEMBER 10, 2021

Opendoor again announced major revenue growth in the third quarter as the iBuyer hit the gas on cash purchases and subsequent resale of homes. The iBuyer lists these homes on its balance sheet as a $6.4 We need to meet customer’s expectations of a sale that is simple, certain and fast.”. billion asset.

Title 363

Title Lending Investor Mortgages 363

Housing Wire

AUGUST 12, 2021

Mortgage, title, appraisal, servicing, iBuying, real estate brokerage , green energy — the gamut. A few years later, they might list the home for sale without an agent with the help of Rocket or refinance their mortgage and place solar panels on their roof. This content is exclusively for HW+ members.

Mortgages 410

Mortgages Title Brokerage Development 410

HomeLight

NOVEMBER 10, 2021

Disclaimer: Information in this blog post is meant to be used for educational purposes only and provide a high level overview of some of the top iBuyer programs. Please visit the iBuyer’s website for the most up-to-date information on each individual program’s fees, market coverage, business model, and more. Working with iBuyers.

Home sale contingency 105

Home sale contingency Sales Closing Short sale 105

Housing Wire

FEBRUARY 14, 2022

But Alipour exited Redfin for Compass last month, due to Redfin’s sales expectations. Redfin is a publicly traded company, a nationally recognized listings website and one of the biggest brokerages in the country. Some agents, like ones at RE/MAX , even pay the brokerage fees for office space and marketing tools.

Brokerage 370

Brokerage Agents Industrial Sales 370

Housing Wire

JUNE 14, 2022

With mortgage rates now north of 6% and the stock market officially in bear territory, two of America’s most prominent real estate brokerages instituted large-scale layoffs and halted expansion efforts. We could be facing years, not months, of fewer home sales, and Redfin still plans to thrive. in April 2021, to $4.51

Marketing 370

Marketing Brokerage Mortgages Title 370

Housing Wire

APRIL 12, 2022

Samson is the CEO of Samson Properties , a rapidly growing Northern Virginia-based brokerage. Samson has a different business model and branding than Compass, but both brokerages identify as “agent-centric.”. DOJ has swooped into lawsuits against the National Association of Realtors and top brokerage firms. Samson reported $9.6

Title 370

Title Brokerage Agents Branding 370

RIS Media

APRIL 11, 2021

Agents remain at the helm of every sales transaction, earning a commission whether it’s an iBuyer, trade or a traditional sale. Two words: Sure Sale. JPAR Real Estate has become America’s fastest-growing 100% commission brokerage by exceeding our agents’ and clients’ expectations.

Sales 98

Sales Agents Brokerage Commercial 98