The average buyer broker commission rate iBuyers paid when they resold a home fell to 2.5% in 2020 from 2.8% in 2019, according to a new analysis by Redfin
In Atlanta, iBuyers paid buyer's agents 3% in 2019. In the fourth quarter of 2020, that dropped to 2.5%
The newly public company revealed in US Securities and Exchange Commission filings Tuesday that it expects to report $2.58B in revenue in 2020, down from the $4.7B in 2019
In a notable departure from more common iBuying strategies, Redfin's iBuyer program, RedfinNow, will target homes built after 1930 and costing more than $1M in the 2 cities
RedfinNow, Offerpad, Opendoor and Zillow only bought 880 homes in the second quarter of 2020, according to a new study by Redfin released Thursday
IBuyers are buying homes again but with a more cautious approach. Once they prove they can survive the pandemic, they’ll still have to overcome the challenge of profitability
Redfin CEO Glenn Kelman discusses the short- and long-term outlooks for RedfinNow in a chat with Austin Smith, the director of Millionacres
As of Friday, the company is now buying homes in Dallas, San Antonio, Los Angeles and Orange County, in addition to Austin, Denver and the Inland Empire in California
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Opendoor and Offerpad will now list homes directly. Ultimately, this new service, still in the early stages and not fully rolled out, represents a way for iBuyers to make money without having to actually buy houses
Redfin is returning to homebuying immediately, while Zillow says a return is likely within a few weeks
The company announced it's also laying off 7% of its staff in an SEC filing
Redfin President of Operations Scott Nagel said he doesn't think the ongoing coronavirus outbreak will immediately drive down home prices
Apartment search company RentCafé said that in the last week searches for apartments on its site have fallen 25%
RedfinNow, the direct-to-consumer homebuying and selling platform, will not be buying homes for the near future, CEO Glenn Kelman confirmed in a letter to shareholders
Mike DelPrete maps the growth of tech-enabled real estate brokerages and iBuyers from 2018 to 2020 at Inman Connect in New York