The companies' integrated technology will streamline the process to make Opendoor cash offers available to eXp's tens of thousands of agents
The iBuyer expects to sell between 750 and 850 homes during Q1 2024, generate $245M to $285M in revenue and achieve positive adjusted EBITDA earnings later this year
In a Q4 earnings report Thursday afternoon, Opendoor CEO Carrie Wheeler struck an optimistic tone and pointed to the 'potential for a more normalized macro backdrop' in 2024
Offerpad provides sellers a unique way to transact through a fast, tech-enabled cash offer, with benefits like post-closing stay-over period, free local relocation and ability to choose closing date
The Seattle-based brokerage and mortgage lender announced another round of layoffs on Friday. Flyhomes had layoffs in July and November 2022, with one round impacting 20% of its workforce
Wu founded Opendoor in 2014 and served as the company's chief executive officer until last year. He said in a statement that he's leaving to focus on building new things
The bombshell verdict of Sitzer | Burnett rocked the real estate industry, but recent earnings reports suggest many of its most recognizable CEOs don't anticipate major disruptions
CEO Carrie Wheeler told Intel that Opendoor wants to purchase 2,000-plus homes per month and that the company is leaning into partnerships like the ones it has with Zillow and eXp
The iBuyer saw revenue fall 71% year over year in the 3rd quarter of 2023. The company also lost $106M — a reversal from Q2's net profit
Offerpad's agent partnership program gives agents another tool when making listing presentations, and pays a 3% referral fee when their client accepts an offer from the iBuyer
Sellers located outside of Offerpad markets who contact the iBuyer for services will be connected with eligible agents in the Anywhere Leads Network
Zillow's Errol Samuelson compared the rise of AI to the invention of the steam engine and encouraged real estate professionals to stay vigilant when it comes to technology
The iBuyer sold fewer homes and brought in less cash than it did during the same period in 2022, but it still managed to land in the black to the tune of $23M, according to Q2 earnings on Thursday
Having unloaded almost all of its older inventory, the iBuyer ramped up home acquisitions by 131%, to 840 homes, in the second quarter of 2023 and expects positive adjusted earnings by year's end
New construction listings on Zillow will now automatically be syndicated to Redfin. The companies believe the partnership will extend the reach of the homebuilders' listings while aiding consumers