ibuyer Technology Related Topics 
Housing Wire
NOVEMBER 8, 2023
Offerpad is an instant buyer, or iBuyer, a company that gives sellers cash offers for their homes and attempts to resell the homes for a profit, sometimes after making renovations. ” reads an Opendoor Technology Inc. iBuyers have consistently produced steep losses as the companies seek to establish national footprints.
Housing Wire
FEBRUARY 18, 2022
For example, technology expenses increased 86% to $157 million, with RentPath making up the majority of the increase. As with rival Zillow , Redfin grew its 2021 revenue and losses due to iBuying. Redfin CEO Glenn Kelman claimed on an earnings call Thursday that his company is running a profitable iBuying business. When in doubt we go low.”.
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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. Technology has given consumers the power of choice and expedited the entire real estate purchasing process.
Housing Wire
SEPTEMBER 2, 2021
That money will go “invest in technology and product development, to pay transaction expenses and for other general corporate purposes including the repayment of indebtedness,” the company announced. The post iBuyer Offerpad goes public at $2.7B Offerpad’s transition escalates the rivalry between Rascoff and his former company Zillow.
Housing Wire
NOVEMBER 10, 2021
It can be done, he claims, and sustainable profits can be achieved so long as strong business fundamentals are in place – local industry expertise, robust technology, strong operational know-how, and adaptable-but-rigorous underwriting. This is as much a logistics business as much as it is a real estate technology company.
Housing Wire
FEBRUARY 25, 2021
Technology has given consumers the power of choice and expedited the entire real estate purchasing process. 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.
RIS Media
OCTOBER 4, 2023
As the aftermath of an iBuyer boom-and-bust continues to play out, market leader Opendoor appears to be pivoting toward closer partnerships with the traditional real estate industry, announcing this week a new partnership with eXp intended to be the “first step of a broader relationship.”
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