Redfin narrows losses as revenue falls 45% in first 3 months of 2023
Redfin's Q1 revenue declined 45% year over year to $325.7M, as gross profits from its real estate services took a tumble amid a harsh housing market, according to an earnings call Thursday
by Marian McPherson May 4
Redfin sees revenue fall, losses mount amid tough market in Q4
The portal and online brokerage saw revenue fall 25% year over year during the fourth quarter of 2022, and lost a total of $61.9M, according to an earnings call Thursday afternoon
by Jim Dalrymple II Feb 16
Opendoor CEO and president out as iBuyer shakes up executive team
Weeks after it reported losing nearly $1B in Q3, leading iBuying company shook things up as founder Eric Wu was replaced as CEO by CFO Carrie Wheeler, and the president has resigned
by Taylor Anderson Dec 1
Ribbon suspends cash offer service, working on new tools for spring
The New York-based power buyer had been purchasing homes on behalf of RibbonCash clients who were unable to close a deal with their own financing
by Matt Carter Nov 11
It's the disruption, stupid! Redfin Now and the end of iBuying as we know it
Opinion
As Redfin winds down its operations, Opendoor and Offerpad are the last ones left for the most part — and they're both struggling. Was iBuying a flash in the pan or is everyone simply looking in the wrong direction?
by Troy Palmquist Nov 10
Here's how Redfin's Glenn Kelman became a reality TV star
Kelman and other real estate 'tycoons' star in a 'Shark Tank'-inspired competition called 'Buy My House.' The show debuts Friday on Netflix
by Jim Dalrymple II Sep 2
Opendoor brings iBuying services to New Jersey, New York state
The move will see Opendoor make cash offers in 17 counties in the two Northeastern states. New York City is not included in the expansion. It also brings Opendoor's market count to 46
by Jim Dalrymple II Apr 5
Redfin revenue soars 163%, even as losses return in Q4
The company's plan to broaden its revenue sources made progress, with title, mortgage and iBuying offerings on track to generate profits, CEO Glenn Kelman said
by Jim Dalrymple II Feb 17
Offerpad is still in the game. How agents can work with the iBuyer
For agents looking to enter the iBuyer market or merely up their iBuyer game, Offerpad is but one choice for a partner. Here's what agents who want to work with the iBuyer should know
How to make sense of iBuying in 2022, post-Zillow
IBuying has existed for years, but it's growing faster than ever and now approaching the scale that could finally make it profitable
by Jim Dalrymple II Feb 2
Redfin’s iBuying revenues grew by more than 1,000% in Q3
The brokerage and portal company raked in $540M between July and September, and saw its losses improve
by Jim Dalrymple II Nov 4
Keller Offers exec: iBuying is a golden opportunity for agents
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
by Craig C. Rowe Oct 26
As Zillow pumps brakes on buying, other stunned iBuyers forge ahead
Zillow says it's facing supply and labor constraints. But other iBuyers, who expressed surprise over Zillow's abrupt pause, say they aren't suffering from the same issues
by Jim Dalrymple II Oct 18
IBuyer offers are clocking in at an average of 104% of market value
Amid a highly competitive market in the first half of 2021, iBuyers began making more competitive offers while expanding the range of homes they were willing to purchase
by Jim Dalrymple II Jul 29
Redfin reports $268M in revenue in first quarter, 40% jump over same period last year
CEO Glenn Kelman said Wednesday that the company is 'just about hitting on all cylinders' after hiring more agents and lenders
by Jim Dalrymple II May 5