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

MARCH 28, 2022

And now, we’ve seen most of these early digital innovators, plus new startups and more traditional players, like Keller Williams (through Keller Offers ), broaden their scope with technology to become early iBuyer leaders. iBuyers are property companies that do the buying and selling of a home digitally. alone is worth about $40T.

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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

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

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 27, 2021

You’re about to read another story about instant homebuying, or iBuying. That’s even though iBuying sales made up less than 0.5% of the total U.S. residential real estate market in the second quarter of 2021, according to a report from Redfin. Offerpad is a six-year-old company founded in 2015 by Brian Bair after a career in real estate investing.

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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 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

JUNE 25, 2021

Per a recent report from Redfin , the typical iBuyer-owned home found a buyer after 13 days on the market — the quickest pace since at least 2015, when Redfin began recording iBuyer data. 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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Housing Wire

SEPTEMBER 11, 2020

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. Phoenix had the most significant slump in the iBuyer market share in Q2. iBuyers there acquired 0.8%

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Housing Wire

AUGUST 19, 2021

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 seven-year-old, New York City-based company will also soon provide an instant cash offer program to homesellers, said Christian Wallace, Head of Real Estate Services at Better.

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Housing Wire

DECEMBER 4, 2020

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. The report said that collectively, iBuyers have been purchasing homes at an average 95.5%

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Housing Wire

NOVEMBER 10, 2021

“I think the news that came out was shocking to a lot of people,” Bair said on Wednesday’s third quarter earnings call, in which the iBuyer sold 1,673 homes across 21 markets, down from 2,025 in Q2. The post Offerpad says it’s cracking the iBuyer code appeared first on HousingWire. 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

AUGUST 20, 2021

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. The post Keller Williams wants to be a different kind of iBuyer appeared first on HousingWire.

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Housing Wire

APRIL 9, 2021

” He added: “We’re giving them 100% of the value creation so they make out better in the end, as opposed to an iBuyer program where it’s their business model to buy low and sell high and make the difference in between. . The post William Raveis ain’t no stinkin’ iBuyer appeared first on HousingWire.

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Housing Wire

AUGUST 7, 2020

But as COVID-19 put a damper on real estate markets throughout the nation, it also impacted iBuyers, which paused their purchasing operations to re-assess local housing market conditions and establish new safety protocols. The post iBuyers: Did COVID-19 disrupt the disruptors? Friedman HW+ Columnist. Already a member?

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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 says it is real serious about its two-year-old iBuying division, RealSure. And that was impetus for hiring for me, for hiring a CEO.

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iBuyer Agents Agents Brokerage 287

Housing Wire

NOVEMBER 2, 2021

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? The post How Zillow’s model crushed its iBuying business appeared first on HousingWire.

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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. Led by CEO Eric Wu , Opendoor is arguably normalizing iBuyers in real estate.

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Housing Wire

AUGUST 11, 2020

Lucie, Florida, as the first iBuyer in the region. Offerpad announced on Tuesday the expansion of its Real Estate Solutions Center into Port St. The company resumed making cash offers in different parts of the country on May 8. Those options include selling the home instantly to Offerpad or partnering with Offerpad to list the home.

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Real Trends

JANUARY 19, 2023

That type of market makes instant cash offers from iBuyers much less valuable, and yet, iBuyers nearly tripled their market share in that time period.” Austin-based property and financial technology company homebldr has launched a new iBuying solution, according to an announcement on Thursday.

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Housing Wire

FEBRUARY 25, 2021

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. home last year at $7 million more than its Zestimated price.).

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iBuyer Loan Officer Brokerage Brokerage 361

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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Housing Wire

SEPTEMBER 23, 2020

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

MARCH 4, 2023

Representing a client in an iBuyer transaction takes less time and can supplement an agent's business. The commissions are lower, but so is the effort.

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iBuyer Agents Agents 101

Maximum Exposure Real Estate

MARCH 16, 2023

The Guide to iBuyers Explained Have you heard the term iBuyer or instant buyer and wondered what it meant? iBuyers are confusing to those who have never heard the term. Technology changes how we do business, and real estate is no exception.

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Housing Wire

OCTOBER 9, 2020

Redfin’ s iBuying service RedfinNow has expanded into another new market since it resumed after pausing because of COVID-19. As of Friday October 9th, Sacramento, California homeowners can sell their homes and get a cash offer via RedfinNow. Redfin also recently launched a program for homebuyers to tour homes on their own.

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Broke Agent Media

JANUARY 10, 2023

Anywhere also announced the end of RealSure, joining Zillow and Redfin by shutting down its iBuyer. Perhaps not surprisingly, Anywhere’s layoffs coincide with the end of its iBuyer, RealSure. . End of Another iBuyer. Anywhere is not the first to shut down its iBuyer. Anywhere Real Estate, Inc. Never a Disruption.

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CT Homes

JANUARY 24, 2023

For homeowners looking to sell their property in a quick and streamlined manner, iBuyers have become an increasingly popular option. But what is an iBuyer? If they are a relatively new concept, with limited iBuyer reviews, are they actually a good option for homeowners looking to make a profit off their homes?

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Real Trends

JANUARY 23, 2023

Today’s RealTrending features Dan Amdur, CEO of Moving Station , a company that specializes in senior relocation and offers a QuickBuy iBuying solution as a value-add. Amdur discusses iBuying, the mistakes made in the past and how iBuying is best done in partnership with real estate agents. Hosted by Tracey Velt and produced by Elissa Branch.

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Housing Wire

AUGUST 18, 2020

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. Opendoor has resumed operations in all 21 of its markets as of Tuesday.

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Notorious ROB

JUNE 14, 2022

Zillow released its Q1, 2022 iBuyer report a few days ago and well, it was kind of drowned out by the CPI print and the ensuing market collapse, including mortgages going over 6%. What’s the tipping point where iBuyer services become mainstream? What’s the tipping point where iBuyer services become mainstream?

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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?

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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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Inman

JANUARY 30, 2023

To outside analysts, it appears Zillow got out of iBuying just in time. Now the company is looking ahead to a post-downturn world. Here are the biggest challenges Zillow will face in 2023.

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