Mike's Stories
Opinion
A deeper look at their rapid rise reveals a trio of insightful growth stories — which may very well shape the future of America’s real estate landscape
Opinion
Customer acquisition costs for major iBuyers is roughly similar at $3,000-$4,000, which is about 2-4X more than Redfin
Opinion
The point is that Zillow and Opendoor are actively losing money to gain market share, and if you're in the real estate industry, concerning yourself with disruptors willing to lose billions is a good use of time
Opendoor’s record-low selling costs dropped from 3% to 2.1%, which is likely the result of Opendoor continuing to push down buyer's agent commissions offered on its houses
Compass is losing less money per transaction as it scales, but it's still losing a lot of money, making a path to profitability uncertain
There is one significant risk — an achilles heel — to portals: They don’t control their inventory
Opinion
Our industry needs to better understand the economic equation of iBuying. The request is simple: Have an honest, upfront conversation about profitability
Opinion
The iBuyer market share and transaction volumes isn’t a failure of the model, but rather a result of it
