ICNY 18: The iBuyers are coming for real estate

New breed of companies predict they'll overtake traditional real estate brands with an irresistible model

Faster. Better. Together.
Inman Connect San Francisco, Jul 16-20, 2018

NEW YORK — Heads up Re/Max, Century 21 and Coldwell Banker, the iBuyers are coming for you. Heavily-funded, tech-driven investors that make quick offers on homes and close in days are among the latest startups raising eyebrows in the real estate industry. And they're betting that the promise of fast and easy transactions will help them overtake traditional real estate brands -- soon. "I believe that in five years the five brands that most consumers know, the Re/Maxes and Century 21s and Coldwell Bankers, ... they’ll be marginalized and they’ll be replaced by five new brands who can predict exactly when your house is going to sell and specialize all the parts of the transaction," Sean Black, co-founder and CEO of Knock, told attendees today at Inman Connect New York. Dan Mayes, senior vice president of product management and analytics at Knock rival OfferPad, agreed and added, "It’s all about scale, the ability to transact." Both startups offer transaction process...