As iBuyers struggle, agents rethink relationships with cash-offer kings
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
by Ben Verde Apr 12
Zillow CEO Rich Barton: 'The real pain is probably coming'
Zillow — which held $3.4B in cash and investments at the end of 2022 — is well prepared to weather any storm, including the banking fallout, Barton said in a new interview on Thursday
by Ben Verde Mar 17
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
Opendoor is where Zillow Offers was a year ago: Mike DelPrete
A year ago, Zillow Offers was in a similar position to where Opendoor now finds itself, and Zillow shut down its iBuying operations. Here's why the path forward might be different this time
by Mike DelPrete Nov 7
Zillow sees Q3 revenue dip, but manages to significantly trim losses
The company brought in $483M in revenue and suffered a loss of $53M — an improvement over the Q3 2021 losses of $329M, according to quarterly earnings results Wednesday
by Jim Dalrymple II Nov 2
Real estate companies are about to tell us just how bad the downturn is
Many of the industry's big companies are about to report their third-quarter earnings. The reports will offer the first in-depth look at how firms coped with a rapidly cooling market
by Jim Dalrymple II Nov 2
Gary Keller: Tech firms' ancillary service strategy a 'big lie'
During Inman Connect, Keller discussed an array of topics with Inman founder Brad Inman. Keller said companies have to focus on 'dollars in, expenses out' as they reach for profitability
by Jim Dalrymple II Oct 19
Opendoor, Offerpad, Redfin shares hit all-time lows on Wall Street
Shares in Opendoor, Offerpad and Redfin all just hit all-time low prices. The milestones come after months of declines for companies across the real estate space
by Jim Dalrymple II Oct 7
Zillow iBuyer program officially ends as last homes leave the market
A year after announcing it would abandon its iBuyer program, Zillow has offloaded the last of the homes it bought with Zillow Offers, marking the end of a major chapter in real estate history
by Jim Dalrymple II Oct 7
Premier Agent dips as Zillow hangs on to modest Q2 profit
Market headwinds pushed Zillow Q2 revenues down 23% to $1B. Despite the declines, Zillow is pushing forward with major initiatives including a new partnership with former rival Opendoor
Zillow and Opendoor team up to provide cash offers to consumers
The partnership pairs 2 of the most polarizing firms in the housing business, and comes less than a year after Zillow began ending its own iBuying efforts
by Jim Dalrymple II Aug 4
iBuyer survey reveals how much less sellers would accept for their homes
Clever's 'American Attitudes on iBuyer Companies' survey of 994 people reveals numerous facts about consumers and iBuyers, including the lengths they'd go to avoid a more traditional sale
by Craig C. Rowe Jun 16
Zillow set to debut AI-generated floor plans in bid to boost browsing
The tool leverages imagery captured by agents in its 3D Home app, which uses a 360-degree camera. The software predicts measurements, calculates square footage and generates a layout
by Craig C. Rowe Jun 15
With Zillow out of the picture, share of iBuyer purchases takes a hit
The share of homeowners who sold to an iBuyer declined in the opening months of 2022, as Zillow continued its exit from the business
by Daniel Houston Jun 13