iBuyer Offerpad goes public at $2.7B valuation

Housing Wire

It also nudges Offerpad from intriguing upstart to another business vying to move iBuying from dazzling concept to profit making enterprise. Rascoff departed from Zillow in early 2019, due in part to criticisms he didn’t bring the home listings giant into iBuying.

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Can Offerpad make iBuying work?

Housing Wire

You’re about to read another story about instant homebuying, or iBuying. That’s even though iBuying sales made up less than 0.5% IBuying observers like Mike DelPrete single out Offerpad as perhaps creating a more sustainable business model for ibuying.

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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

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. The post Better expands real estate, explores iBuying appeared first on HousingWire.

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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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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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iBuying rebounds in Q1, up 20% from end of 2020

Housing Wire

iBuying appears to be back, after the nation’s top iBuying companies purchased 4,383 homes in the first quarter of 2021 — up 20.6% The top quarter of iBuyer activity remains the third quarter of 2019 when, according to Redfin, 8,310 homes were bought via iBuyers.

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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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iBuyers: Did COVID-19 disrupt the disruptors?

Housing Wire

Since the iBuying industry launched in 2014, billions of dollars have poured into companies created to disrupt the real estate industry and transform the way consumers buy and sell houses. The post iBuyers: Did COVID-19 disrupt the disruptors? iBuyers Real Estate HWplus

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iBuyer purchase volume sank 82% YoY in Q3

Housing Wire

iBuyer purchase volumes were significantly lower during the third quarter this year than they were pre-pandemic, according to zavvie ‘s inaugural Seller Preference Report. In Q3, iBuyer purchases dropped 82% year over year.

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How many homes did iBuyers purchase in Q2?

Housing Wire

The second quarter was a tough one on iBuyers, as only 0.1% of the homes sold across 418 metros — only 880 homes total — were purchased by top iBuyers Redfin , Zillow , Opendoor and Offerpad , according to a report by Redfin. iBuyers there acquired 0.8%

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Offerpad expands iBuying in Central Florida

Housing Wire

Lucie, Florida, as the first iBuyer in the region. This is the sixth Florida market where the company is now live since it began iBuying in Florida in 2015, operating in Citrus Ridge, Fort Pierce, Port St. iBuyers Real Estate Featured Florida iBuyer expansion OfferPad Port St.

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William Raveis ain’t no stinkin’ iBuyer

Housing Wire

But don’t confuse its new program with iBuying – they’re looking to solve the sell-before-you-buy dilemma in a different manner. The post William Raveis ain’t no stinkin’ iBuyer appeared first on HousingWire.

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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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iBuyer Update

BubbleInfo

The ibuyers are borrowing money like crazy to build their inventory of homes to flip. Flips Frenzy ibuyer ZillowOpendoor doesn’t have the brand-name awareness of Zillow, so they are advertising a lot and buying homes directly off the MLS. Zillow has everyone’s email address so they are able to reach their users directly. Both have been fairly well-compensated […].

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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Startup iBuyer Flyhomes expands to Austin, Dallas and Houston

Inman

News Brief Technology austin dallas FlyHomes houston ibuyer ibuyers ibuying tushar gargIn addition to three new Texas markets, the company operates in Seattle, Boston, Portland, the Bay Area and Southern California.

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Redfin CEO, Zillow pour cold water on TikToker’s iBuyer theory

Inman

A recent viral video suggested iBuyers could jack up the prices of homes. But one expert called the theory "fairly conspiratorial," and iBuyers themselves said they still have a tiny share of the market.

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Opendoor resumes iBuying in all of its markets

Housing Wire

The iBuyer first paused its acquisitions in March as a result of COVID-19, and has since relaunched in Phoenix , Raleigh-Durham, Dallas-Fort Worth, Atlanta, Charlotte, Nashville and Tucson. The post Opendoor resumes iBuying in all of its markets appeared first on HousingWire.

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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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IBuyers on track to have record-setting sales in Q3

Inman

A new report from Zillow found that the nation's four largest iBuyers reached a 1 percent market share in the second quarter of 2021, setting the stage for record-breaking sales in Q3.

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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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Competing with iBuyers just got a whole lot easier

Inman

So how can real estate professionals compete with iBuyers and put a new spin on generating motivated seller leads?

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IBuyers are paying above market — and reselling for more: Mike DelPrete

Inman

and iBuyers, led by Opendoor, Zillow and Offerpad, are paying record-high, above-market values for the homes they’re buying, but they're also reselling them for more money than ever before. Analysis Columns Data Select Teams ibuyer ibuyers ibuying mike delprete offerpad opendoor Zillow

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Watch: Compete with iBuyers to generate seller leads

Inman

Agent Sponsored Compete with iBuyers to generate seller leads ibuyers Real GeeksDan will fill you in on how to partner with institutional buyers who will make very competitive offers too, so you're honest and authentic in your message.

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From iBuying to iRenting: Innovation in residential real estate

Inman

Enter REZI, a real estate technology company with the mission to adopt and transform iBuying into a new category: iRenting. Property Portfolio Sponsored apartment rentals From iBuying to iRenting: Innovation in residential real estate ibuyer irenter property managers rentals renters section

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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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iBuyers gatecrash the all-cash offers party

Realty Biz

Some home buyers are leaning on so-called iBuying firms to better compete by offering all-cash on the properties they target. iBuyers can help buyers by making cash-backed offers on their behalf or by providing financing to help draw attention to their offer in a bidding war, experts say.

Spencer the iBuyer

BubbleInfo

ibuyer Realtor Why You Should List With JimSpence has gotten involved with Offerpad, joining the other disrupters who lead with lies and insults about traditional realtors. He said, “The real competition for Offerpad isn’t Zillow or Opendoor, it’s the fact that 99.5%

Zillow and Opendoor, be transparent about iBuyer profitability: DelPrete

Inman

Our industry needs to better understand the economic equation of iBuying. Analysis Columns Data Opinion Select ibuyers ibuying mike delprete opendoor transparency ZillowMike DelPrete’s request is simple: Have an honest, upfront conversation about profitability.

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WATCH: ‘iBuyers are not the culprit’

Inman

Spencer Rascoff, former CEO of Zillow and now Co-founder & Executive Chairman of dot.LA, Pacaso, and Supernova, says iBuyers are not the culprit of the inventory shortage. Connect Now Connect Video brad inman ibuying inman events inman_events self-care SPACS spencer rascoff

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DelPrete: iBuyer market share plummets, slow recovery ahead

Inman

Like many businesses, iBuyers took a significant hit during the pandemic. Home purchases dropped 90 percent as the major iBuyers paused their operations, and as they come back to life, the iBuyers are rebounding cautiously and slowly, suggesting a long road to pre-pandemic levels.

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Opendoor and Zillow are losing tens of thousands on each iBuyer home: DelPrete

Inman

Agent Analysis Columns Data Opinion Select Teams ibuyer ibuyers ibuying mike delprete opendoor ZillowDisruption in real estate is being led by companies — and shareholders — willing to bet and lose billions of dollars.

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