real estate investment Ponzi scheme
Investor money funded casino trips, a whiskey club, massages and cryotherapy
by Christy Murdock May 5
branding and personal finance
Great marketing demands attention. Great financial systems quietly do their job
by Amanda Neely Mar 10
Opendoor CEO resigns
Shares in the iBuyer have traded for as little as $0.58 on the Nasdaq in recent days — well below the $1 threshold companies must meet to avoid delisting
by Jim Dalrymple II Jun 6
Redfin to shed 450 staffers after $100M rental deal with Zillow
On the same day Redfin inked a new $100M partnership to syndicate Zillow rental listings in multifamily buildings, the company said it would eliminate approximately 450 positions
by Taylor Anderson Feb 12
RE/MAX President Amy Lessinger announces resignation
Lessinger's departure comes less than a year after she assumed the role of president. It also comes after RE/MAX has struggled with financial results in recent quarters
by Jim Dalrymple II Jan 8
EXp World Holdings sells Virbela, the firm that made its virtual world
The sale, to Virbela's cofounders Alex Howland and Erik Hill, closed at the end of November. It comes at a time when virtual worlds and the metaverse have waned as a topic of excitement
by Jim Dalrymple II Dec 27
Opendoor founder Eric Wu leaving company to focus on startups
Wu founded Opendoor in 2014 and served as the company's chief executive officer until last year. He said in a statement that he's leaving to focus on building new things
by Jim Dalrymple II Dec 15
Compass COO Greg Hart to leave company at year end
Hart joined Compass in 2020. After his departure, the fast-growing brokerage will eliminate the role of chief operating officer
by Jim Dalrymple II Dec 12
'Cash Flow King' took millions in Ponzi scheme, according to SEC
‘Nearly everything about his scheme was a lie,’ the SEC says in new charges against the investor, who raised money to buy homes in northern Ohio
by Taylor Anderson Sep 27
RE/MAX Holdings to lay off 7% of staff by end of September
The layoffs are part of a reorganization plan that will streamline operations and bring cost savings in the long term, the real estate franchisor said in Securities and Exchange Commission filings
by Lillian Dickerson Aug 23
Opendoor's losses doubled in Q4 as the iBuyer's revenue fell 25%
The dominant iBuyer lost nearly $400M in the fourth quarter, according to an earnings call Thursday. That's better than the previous quarter, but a big jump from the same period in 2021
by Jim Dalrymple II Feb 23
Anywhere lays off more workers, announces end of RealSure iBuyer
The company has slashed its workforce by 11% since last June, according to US Securities and Exchange Commission filings. The moves come following months of housing market declines
by Jim Dalrymple II Jan 10
Blend announces more layoffs as cumulative losses surpass $1B
The mortgage tech and title provider posted a $132.7M net loss in the third quarter of 2022, with revenue falling 38% from a year ago to $55.3M, according to an earnings call Thursday
by Matt Carter Nov 11
SEC is investigating Better as Barclays, Citigroup resign as deal advisers
Mortgage upstart Better's plan to go public via a SPAC merger faces new challenges as banks that were advising the companies resign their roles
by Taylor Anderson Jul 14
Better shed nearly 60% of employees and posted $304M loss in 2021. But IPO still in cards, SEC filings show
New documents filed Monday with the US Securities and Exchange Commission shed new light on just how bad the past 18 months have been for the online mortgage lender
by Taylor Anderson Apr 28