Redfin's Q2 revenue declined 21% year over year to $275.6M, as gross profits from its real estate services took a tumble amid a harsh housing market, according to an earnings call Thursday
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
The company earned $600.5M in revenue during the third quarter, but also lost $90.2M — up from a loss of just $18.9M in the third quarter of 2021 — amid a worsening housing market
RedfinNow is operational in the Orlando and Tampa areas as of this week and will launch in the Palm Beach and Miami areas later this month, with Florida marking its 16th state in 34 markets
Redfin reported $606.9M in second-quarter revenue, a 29% increase compared to the second quarter of 2021, in an earnings report released Thursday afternoon following the close of markets
While real estate industry layoffs largely began with companies that provide mortgages and mortgage-related services, everyone from Adwerx to Zumper has been impacted by the downturn
A new report from Power Buyer and iBuyer marketplace zavvie says that Power Buying 'could eventually become the norm,' citing its success in helping buyers quickly purchase a home
After helping Redfin's iBuyer business navigate a period of change, Jason Aleem is now tasked with leading its sales team into the next era
The deal to purchase the California-based national mortgage lender accelerates the brokerage's strategy to become a one-stop shop for buying, selling, renting and financing a home
The iBuyer’s newest market comes just two weeks after its first launch in the Golden State, where it is avoiding costlier coastal cities
'IBuyers purchased 70,402 homes in 2021, more than double the previous annual high of 32,726 homes in 2019,' according to Zillow's Q4 iBuyer report
Redfin's iBuyer, RedfinNow, forgoes incentives for agents but offers a dedicated customer service team and local title options. Here’s how to get started
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
The launch brings the world's biggest iBuyer to one of the world's most challenging real estate markets — and marks a new chapter for the iBuying concept
IBuying has existed for years, but it's growing faster than ever and now approaching the scale that could finally make it profitable