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.”.

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Housing Wire

SEPTEMBER 27, 2021

That’s even though iBuying sales made up less than 0.5% million in income in the second quarter of 2021, generating $279 million in revenue through the sale of 1,279 homes. You’re about to read another story about instant homebuying, or iBuying. of the total U.S. Offerpad earned $9.2 Become a member today. Already a member?

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Housing Wire

JANUARY 22, 2025

Auction.com has long been a leading platform for bank-owned (REO) and foreclosure sales to real estate investors and others seeking a discount. For those who are struggling to repay their mortgages, the process aims to help them avoid foreclosure and retain their home equity.

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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. . billion in closed sales volume in 2020. “And then we have our agent commission.”

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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.

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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. Meanwhile, Better has expanded Better Real Estate into Alabama and Michigan, the 15 th and 16 th state the company’s real estate arm has entered. Become a member today.

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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

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).

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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

FEBRUARY 25, 2021

In response to a lawsuit over the accuracy of the Zestimate, Zillow in 2017 said the tool was within 5% of the sale price 53.9% home last year at $7 million more than its Zestimated price.). Presented by: Propertybase. of the time, within 10% 75.6% and within 20% nearly 90% of the time.

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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 is the biggest brokerage in the country by sales volume, per RealTrends figures. HW : Zillow just wound down its iBuying.

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Housing Wire

JUNE 16, 2025

When Zillow was making money buying homes off the MLS, it supported off-MLS sales. After the close of its iBuying operation , Zillow struck a deal with iBuyer Opendoor in August 2022. The options Zillow gives sellers is selling a property with an agent, as a for sale by owner (FSBO) or an all-cash offer from Opendoor.

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Housing Wire

MARCH 19, 2025

Institutional home-buying activity remained subdued last year as transactional players including iBuyers , flippers, and sales leaseback firms dominated the market. While major single-family rental (SFR) funds continued to make acquisitions, their volume was significantly lower than during the post-pandemic surge of 2021.

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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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Housing Wire

SEPTEMBER 23, 2020

The iBuyers are quickly becoming all-in-one-buyers. Zillow-owned homes in Atlanta, Phoenix and Tucson will be listed for sale by Zillow Homes employees who are licensed real estate agents. Zillow isn’t the only iBuyer reaching into the broker business. Zillow said it will not be recruiting for these positions.

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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. .

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Housing Wire

JUNE 17, 2025

Go back to 2017 — the top 1,000 companies across the country held like 45% or 46% of the overall sales volume. Miedler: When I first took this job seven years ago, people were asking how Century 21 was going to keep up with iBuyers. Now we know where iBuyers are. It’s literally in the statistics. Now, it’s AI and blockchain.

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Housing Wire

MAY 15, 2025

The so-called iBuyers have yet to find a way to consistently turn a profit, and their presence in the industry has slowly shrunk. When the companies launched, home prices were steadily rising and sales volume was such that there was enough opportunity. With an innovative, tech-enable concept, the iBuyers turned heads.

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Real Estate News

JUNE 24, 2025

AJ LaTrace June 24, 2025 4 mins Key points: Opendoor announced this month that it is expanding its Key Connections referral program that connects agents with a seller from the start of the sales journey. Converting more customers would no doubt put the iBuyer on more solid financial footing and rebuild confidence with investors.

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Agents MLS As-is Brokerage 254

Housing Wire

FEBRUARY 14, 2024

As a result, homeowners either must sell their current home and suffer through double moves and short-term rentals to access the equity they’ve accrued, or they have to make contingent offers that require the sale of their current house to close. Consequently, 37% of homeowners say they want to move but are staying in their current home.

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Housing Wire

NOVEMBER 29, 2021

Today, pending home sales came in as a big beat of estimates — up 7.5% From the National Association of Realtors : “The Pending Home Sales Index (PHSI), a forward-looking indicator of home sales based on contract signings, rose 7.5% Home sales had a big gap from trending sales to where total sales closed in 2020.

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Housing Wire

DECEMBER 22, 2021

The National Association of Realtors reported that existing home sales for November came in hot at 6.46 This number is above my sales trend peak of 6.2 million, which means we have now had three straight months of sales of over 6.2 Early in the year , I wrote that if existing home sales stay in a range between 5.84

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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.

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Sales New Construction Staging Mortgages 468

Housing Wire

MARCH 18, 2025

But in light of Redfins blockbuster sale to Rocket Mortgage that was announced less than two weeks later, hindsight dictates that Kelman may have known that the end of independence was coming for the company hes run for almost 20 years. When the market was stable, Redfin was able to work around small downturns here and there.

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Brokerage Agents Mortgages Staging 395

Housing Wire

MARCH 7, 2022

Worldwide sales of non-fungible tokens, better known – of course – as NFTs, catapulted from $94.9 But Ethereum was the first with a blockchain that enabled NFT sales. In this particular sale, Heckler worked out an arrangement to receive the commission distribution after the winning bid. million in 2020 to $24.9

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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.”.

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Sales As-is Brokerage 468

Housing Wire

DECEMBER 14, 2020

The iBuyer also said that homebuyers in Tucson, Arizona; Charlotte, North Carolina; Houston; San Antonio; and Austin, Texas, can tour and purchase any home on the market, via Opendoor. In other iBuyer news, Offerpad announced its plans to expand into the Denver and Nashville metro areas in early 2021.

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Housing Wire

JUNE 11, 2024

Since becoming the first iBuyer to turn a profit in fourth-quarter 2021 , the firm has struggled to consistently replicate its success , especially as mortgage rates rose and the housing market cooled in 2022. In August 2022, iBuyer Opendoor announced a similar partnership with Zillow.

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RIS Media

JUNE 24, 2025

Early investors included Sam Altman, now of OpenAI fame, and Paypal co-founder Max Levchin, at a time when numerous “disruptors” promised to restructure the real estate process… The post Opendoor Pivots to Referrals, With iBuyer Aspirations Dimmed appeared first on RISMedia.

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Investor Sales Industrial Agents 77

Housing Wire

NOVEMBER 5, 2021

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. But some investors see add on services including mortgage as a possible way for iBuyers to eventually turn a profit.

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Purchase and sale agreement Loan Officer Brokerage Loans 402

Housing Wire

JANUARY 30, 2021

Rely on your agent, comparable sales and hard data when setting your price, and make sure it aligns with other properties in the area. Consider an iBuyer. With an iBuyer, you don’t have to bother with the open market. With an iBuyer, you don’t have to bother with the open market. The post Selling your home?

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Staging Renovation Agents Marketing 482

Housing Wire

DECEMBER 8, 2020

Seattle is currently a hot market – in October, there was less than a month’s worth of inventory and pending home sales outpaced supply. “Every homeowner wants to know what they could get for their home from an instant sale and compare it to listing on the open market,” said Adam Wiener, Redfin’s chief growth officer.

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Brokerage Industrial Agents As-is 482

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.

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Title Investor Finance Brokerage 441

Housing Wire

JANUARY 6, 2021

“Giving sellers the option to compare a cash offer with a brokered sale is part of our mission to redefine real estate in the consumer’s favor,” Aleem said. Homeowners in the petri dish of iBuying can now sell their home via RedfinNow. Now, homeowners can request a cash offer on their home via its iBuying arm.

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Marketing Industrial As-is Closing 455

Housing Wire

DECEMBER 13, 2021

For homebuyers, across the country we expect the shortage of homes for sale to extend well into 2022.”. From 2007 to 2014, institutions accounted for about 2% of homes that were purchased out of foreclosures and short sales, which is out of five million-plus homes. Moving in: Big investors,” reads a Reuter’s headline from this July. “A

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Investor Industrial As-is Marketing 417

Housing Wire

FEBRUARY 10, 2022

Barton also declared Zillow would be “cash flow positive” after completing the sales. home sales in 2021, Barton said, 4.1 Barton expressed hope that the new app and Zillow’s October purchase of ShowingTime would open up opportunities to monetize more aspects of the home sale. Zillow CEO Rich Barton. billion in debt.

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Housing Wire

FEBRUARY 15, 2024

For iBuyer Opendoor , 2023 was all about moderation. “We We’ve done the hard work in 2023 to be leaner, to be more agile, to be able to rescale the business in a sustainable fashion.” In comparison, at the end of 2022, the iBuyer had 12,788 homes on its balance sheet, representing $4.5 billion in inventory. “We

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Investor As-is Marketing Mortgages 414