Offerpad gets new CFO as stock hovers near record low
Peter Knag joins the company in the middle of a rough real estate market, and when iBuying specifically appears to have lost some of its buzz
by Jim Dalrymple II May 24
Offerpad posts a decline in annual revenue, but improves Q1 losses
The iBuyer lost $17.5M between January and March, according to an earnings call Monday afternoon. However, that represents a 71% improvement compared to a year earlier
by Jim Dalrymple II May 6
Single-family home sales to investors hit all-time high
United States property investors are putting the pedal to the metal and feeling optimistic despite a turbulent housing market
by Ben Verde Apr 11
Will Perisphere and other AI-fueled startups pilfer clients from agents?
Perisphere uses an onboard computer vision solution and 0% commission model to help consumers self-direct transactions, using consumer sentiment against agents to sell the tool
by Craig C. Rowe Dec 26
Offerpad on path to profitability as net losses slid 75% in Q3
The iBuyer reported Q3 earnings Thursday, with revenues declining 71% YOY to $234.2M. Offerpad dramatically slimmed losses and is on track to reach Adjusted EBITDA profitability by 2024
by Marian McPherson Nov 2
Real estate stocks are suddenly and finally on fire
Redfin, Opendoor and Compass have all seen their share prices rally in recent days — suggesting that after years of the cold shoulder investors are warming to the sector
by Jim Dalrymple II May 11
Offerpad narrows losses despite another quarter of falling revenue
Following a dramatic fourth quarter in which the iBuyer posted losses of $121.1M, Offerpad improved its net loss by 51% to $59.4M in Q1 as it continued to struggle to adapt to a shifting market
Eyes on inventory as Q1 earnings ramp up following a chilling 2022
Jay McCanless, a senior vice president of equity research at Wedbush Securities, reveals what he'll be watching as publicly traded real estate companies post Q1 earnings this week and next
by Jim Dalrymple II May 3
As iBuyers struggle, agents rethink relationships with cash-offer kings
IBuyers like Opendoor and Offerpad once appeared poised to be an essential player in the nation's biggest housing markets. Now, real estate agents say their role has diminished dramatically
by Ben Verde Apr 12
Opendoor and Zillow expand partnership into 3 new markets
The firms said they would expand into Houston, Phoenix and Dallas. The expansion follows the group’s February announcement that they would offer their joint service in Atlanta and Raleigh
by Taylor Anderson Mar 15
Proptech has reached an inflection point. So, like, what happens now?
Disruptive sales models, lead aggregators and search products have transformed proptech into a true marketplace while freeing venture capitalists up to become more than mere power brokers
by Craig C. Rowe Mar 1
Offerpad lost $24K on every home sold in Q4 as losses hit record high
Offerpad sold more than 10,000 homes last year for the first time in company history, but posted a record $121.1M fourth-quarter loss, according to an earnings call for the iBuyer on Wednesday
by Matt Carter Feb 22
Zavvie debuts power buyer program
The white-labeling program, zavvie Power Buyer, was announced exclusively to Inman and will include 2 models: contingency-free (cash offer) financing and a buy-before-you-sell bridge loan
by Craig C. Rowe Feb 15
'Big Short' investor says iBuyers could be obsolete by 2025
In his latest interview with Bloomberg, former Goldman Sachs investor Don Mullen explains why iBuyers won't survive much longer, calling them the 'forced sellers' of today's market
Purplebricks is a 'cautionary tale' for all tech disruptors: DelPrete
UK-based Purplebricks remains one of the best examples in the world of a real estate disruptor going from zero to one, according to Mike DelPrete. Here's what we can learn from its journey
by Mike DelPrete Feb 2