In a new interview on Thursday, Offerpad CEO Brian Bair explained where Zillow went wrong and his enduring faith in the iBuying business model
Experts envision the company pivoting to the comparatively easier business of working with buyers after the failed experiment of scooping up homes from sellers
Opendoor co-founder Keith Rabois and 'The Big Short' investor Steve Eisman predicted the end of Zillow Offers as soon as it began. What did they see that others didn't?
On Tuesday, Zillow announced that it would shutter Zillow Offers. With plans to unload 7,000 homes at an estimated $2.8B, Inman wants to know if there's another solution
The news comes just weeks after the company announced a pause in its iBuying, and follows reports that it was underpricing homes in a number of cities
Users of realtor.com will now be able to see a preliminary offer from Opendoor in real time via the search portal's My Home dashboard, it was announced Wednesday
RJ Jones, head of Keller Offers, told Inman Connect Las Vegas that the increase in iBuyers and alternative transaction models are driving professionalism and give the industry a lot to look forward to
At Inman Connect Las Vegas, 4 proptech executives discussed how technology can be used to empower agents to save time, flatten work processes and better serve clients
Opinion
Other iBuyers saw the signals and made adjustments while Zillow kept on buying; either it missed the signs or proceeded anyway. Regardless, it’s a timely reminder that growing an iBuyer business is challenging
Zillow said labor and supply issues in the market have created an 'operational backlog for renovations and closings.' The pause will enable the company to catch up on its existing contracts
Opendoor is on the hunt for more funds, according to a Bloomberg report. The iBuyer's new debt facility agreement will boost its borrowing power to $9B
The publicly traded iBuyer has launched its services in the Columbus metro area, bringing its number of markets to 21
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RE/MAX President Nick Bailey takes on iBuying and investors
'All those in favor of expropriating every house that Zillow owns, say aye,' tweeted one American as Berlin's vote to seize 240K apartments rippled across the globe
In addition to the new Texas markets, the company operates in Seattle, Boston, Portland, the Bay Area and Southern California