Spencer Rascoff: iBuyers not to blame for supply shortage
The former Zillow CEO touched on iBuying, real estate companies going public and 'global asset inflation' during a discussion at Connect Now
by Jim Dalrymple II Apr 20
RedfinNow launches in Tucson, Ariz., resumes service in Las Vegas
Redfin's iBuyer service now operates in 22 markets nationwide
by Marian McPherson Apr 14
Opendoor expands homebuying pool to meet booming demand
The iBuyer revised its purchase requirements to include pricier homes, older homes and homes in age-restricted and gated communities
by Marian McPherson Apr 13
William Raveis launches sell-before-you-buy program, Raveis Purchase
Available since April 1, Raveis Purchase enables homeowners to make a non-contingent offer on another property while benefiting from open market offers
by Marian McPherson Apr 8
Offerpad launches full-suite of services in Indianapolis
Offerpad has chosen Indianapolis as its first Midwestern market. The iBuyer's full suite of services will be available this summer
by Marian McPherson Apr 8
Knock expands into Colorado and Georgia
In its first announcement since revealing its intentions to go public, Knock has furthered its footprint in the West and South with 7 new markets, for a total of 34 Home Swap markets
by Craig C. Rowe Apr 8
Offerpad: Sellers can stay in homes up to 60 days after closing
To help alleviate the stress of selling, Offerpad will now give sellers the option of remaining in a home up to 60 days after closing escrow
5 big challenges for REX Real Estate in 2021
The well-connected discount brokerage is trying to raise more funding and grow its business as it takes on industry behemoths NAR and Zillow
by Andrea V. Brambila Mar 29
How much are iBuyers paying for customer acquisition?
Opinion
Customer acquisition costs for major iBuyers is roughly similar at $3,000-$4,000, which is about 2-4X more than Redfin
by Mike DelPrete Mar 24
Commission, appraisals, inventory: 11 challenges agents face today
Opinion
Last year forced real estate agents to adapt in an ever-evolving landscape. Here are the top challenges agents face daily
by Kuba Jewgieniew Mar 24
How the marriage between Spencer Rascoff and Offerpad came to be
Spencer Rascoff and Offerpad CEO Brian Bair spoke to Inman about the behind-the-scenes moves that led to Offerpad's decision to go public via a special purpose acquisition company
by Patrick Kearns Mar 18
IBuyers are willing to lose billions to gain market share: DelPrete
Opinion
The point is that Zillow and Opendoor are actively losing money to gain market share, and if you're in the real estate industry, concerning yourself with disruptors willing to lose billions is a good use of time
by Mike DelPrete Mar 18
IBuyers still on slow road to recovery: Redfin
IBuyers purchased 0.3% of all homes sold across 418 US metro areas analyzed by Redfin during the fourth quarter of 2020, down from 0.8% of all homes sold the year before
by Lillian Dickerson Mar 11
IBuyers continue to see massive financial losses: DelPrete
Opendoor’s record-low selling costs dropped from 3% to 2.1%, which is likely the result of Opendoor continuing to push down buyer's agent commissions offered on its houses
by Mike DelPrete Mar 10
News Corp CEO: We'll leave the 'unkempt gardens' to Zillow
'Our aim is to be a genuine digital marketplace, not to have any vested interest that might complicate that,' News Corp. CEO Robert Thomson said at Morgan Stanley's virtual conference. 'As you know, with house flipping, Zillow is renovating homes.'
by Patrick Kearns Mar 8
6 ways agents can disrupt the disruptors today
Embracing change, technology and the evolution of our industry is the key to succeeding and remaining relevant as an agent. Do this consistently, and you will emerge as a leader in your marketplace
by Faisal Susiwala Mar 8
Opendoor reveals ambitious expansion plans
The company wants to double its total markets in 2021 but is eyeing a much bigger goal
by Patrick Kearns Mar 4
Full impact of COVID-19 revealed in Opendoor's first earnings report
In its first earnings report since going public, Opendoor posted a net loss of $286M in 2020 and $87M in the fourth quarter alone
by Patrick Kearns Mar 4
Realogy brings RealSure to Atlanta
The iBuyer platform is now live in a total of 12 US markets
Opendoor debuts cash-backed offers
Buyers will need to get pre-qualified with Opendoor Home Loans or another mortgage company. Then, Opendoor will pair the buyer with a real estate professional in their market
Zillow's 'live offer' Zestimate launches in 20 markets
The move turns the Zestimate into an initial bid and is aimed at getting more consumers at the top of the funnel into the Zillow ecosystem
by Patrick Kearns Feb 25
Sellers choose 'buy-before-you-sell' offers 5X more than iBuyer offers
Bridge programs have lower service fees and alleviate seller worries about buying in an inventory-starved market, according to a new report from real estate tech firm Zavvie
by Andrea V. Brambila Feb 25
Knock partners with The Agency for Home Swap's expansion
Los Angeles represents Knock's largest market for its 'buy-now-sell-later' alternative mortgage model. It's expected to especially help buyers in the under $2M market be more competitive
by Craig C. Rowe Feb 25
Redfin CEO reveals iBuyers paid agents less in 2020
In Atlanta, iBuyers paid buyer's agents 3% in 2019. In the fourth quarter of 2020, that dropped to 2.5%
by Patrick Kearns Feb 24
What’s next for real estate? Industry veterans weigh in
To kick off Connect Now, Brad Inman invited Coldwell Banker agents Steve and Heather Ostrom to discuss the 'mega trends' of today and find out why they've stuck with their brokerage
by Lillian Dickerson Feb 18
Opendoor launches in San Diego and Asheville
The company is expanding the footprint of its direct-to-consumer homebuying platform in California and North Carolina
by Patrick Kearns Feb 18
More than 7 in 10 sellers say they'd consider an iBuyer: Opendoor
A new report from Opendoor also found that 75% of buyers would consider purchasing a home through an app
by Andrea V. Brambila Feb 17
Zillow is taking the Zestimate from ‘fantasy to reality’
Previously an automated valuation model, the Zestimate will be a 'live offer' in many markets in 2021. The company also revealed that it's finally making money on the homes it buys and sells through Zillow Offers
by Patrick Kearns Feb 10
Opendoor's revenue plunged nearly 50% in 2020, according to SEC filing
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
by Patrick Kearns Feb 3
9 questions everyone's asking about Zillow's IDX shift
Opinion
What does Zillow's IDX shift mean for you and your business? Here are the answers to all your lingering questions
by Jay Thompson Jan 29
Opendoor announces its first chief customer officer
Megan Meyer Toolson, an employee of the real estate company since 2015, is being promoted to the new position
by Patrick Kearns Jan 26
Opendoor taps ex-Marine to run data security
Noah Beddome, the latest addition to Opendoor's C-suite, will run the departments that protect consumer data
by Patrick Kearns Jan 20
In a red-hot seller's market, is staging even worth it?
Opinion
The next time you encounter sellers who don't know if they should stage their property, sell it vacant or furnished, or do additional work, here's what to do
by Bernice Ross Jan 6
11 CEOs on 2021: More mergers, more pressure and more growth
The chief executives of Zillow, Redfin, Realogy and more predict what's in store for the new year, including industry consolidation and even more technology acceleration
by Patrick Kearns Dec 30
9 new real estate technology products that lit up 2020
Opinion
A number of new real estate software products emerged in 2020 — some from new companies and others from established players. Here are nine of them that stood out
by Craig C. Rowe Dec 28
Pulse: Readers share the biggest real estate news of 2020
The coronavirus outbreak dominated headlines this year, but what industry-related events and changes made the news? Here are the top real estate stories from 2020, according to our readers
by Inman Dec 22
Everything that happened in 2020, the wildest year of our lives
This year had it all: A presidential election, a stock market crash and rebound, and the busiest summer and fall in memory — all amid an unprecedented global pandemic
by Jim Dalrymple II Dec 21
Opendoor makes public debut today
Following the official merger with Social Capital Hedosophia Holdings Corp. II, the well-funded iBuyer begins publicly trading as OPEN on the Nasdaq exchange Monday
by Patrick Kearns Dec 21
The 10 biggest real estate tech stories and trends of 2020
COVID-19 may have led to increased tech acceleration, but technology was already reshaping the industry even before the pandemic struck
by Patrick Kearns Dec 18
5 challenges indies will meet head-on in 2021
The real estate landscape has shifted over the years. Today, independent brokerages need to have a clear view of those changes and use their strengths to pivot and meet them. Here's how they can thrive in 2021
by Andrew Bearden Dec 16
Opendoor expands service offerings across multiple markets
The company is expanding its iBuying, in-person and virtual touring and financing services across multiple US markets, according to an Opendoor blog post Thursday
by Lillian Dickerson Dec 10
Knock launches new sale-leaseback program, Knock Nest
A spin-off of Knock Swap, Knock Nest formalizes Knock's longtime leaseback option and allows homeowners to access home equity without the need to move
by Marian McPherson Dec 9
5 things to watch for as Redfin heads into 2021
Redfin's iBuying program and ancillary services should continue to be important parts of the company's expansion. It'll also have to contend with flashy rivals and a fair housing lawsuit
by Jim Dalrymple II Dec 7
Offerpad partners with nation's largest private new homeseller
The deal with New Home Star is a first for Offerpad, whose Homebuilder Alliance program counts more than a dozen direct builder partnerships but, until now, no sales firms
by Patrick Kearns Dec 3
Offers from iBuyers are getting weaker: zavvie report
Total iBuyer purchases plummeted 82% year over year in Q3, according to the report
by Patrick Kearns Dec 1
ClosingLock aims to lock down wire fraud
Opinion
As real estate deals continue to be handled online and at arm's length, wire fraud risk has nowhere to go but up. ClosingLock is aiming to stop it
by Craig C. Rowe Nov 20
IBuyer market share set to drop by half in 2020: DelPrete
Opinion
The iBuyer market share and transaction volumes isn’t a failure of the model, but rather a result of it
by Mike DelPrete Nov 19
Offerpad remakes its C-suite as its business model evolves
Steve Johnson joins Offerpad as chief operating officer, as the company expands its real estate offerings beyond iBuying
by Patrick Kearns Nov 18
Why the NAR Expo won't ever be the same
Aside from the challenges posed by COVID-19, the NAR Expo still faces a handful of other issues that stack the deck against it. Here are a few affecting the health of the event
by Chris Drayer Nov 17
Highly rated iBuyer offer aggregator rebrands and gets even better
Opinion

Atlanta-based OfferBarn is now WyzeGyde. It’s not often that an already worthwhile software product undergoes a substantial overhaul and comes out even better — but this one did.

by Craig C. Rowe Nov 16
EasyKnock founder: 'Agents have to differentiate themselves'
EasyKnock CEO Jarred Kessler argued during Inman Connect Now Thursday that agents need to show that they're on the cutting edge
by Jim Dalrymple II Nov 12
Riding hot market, Zillow posts first profitable quarter in 3 years
Zillow beat expectations, posting $657M in revenue in the third quarter and a net income of $40M
by Patrick Kearns Nov 5
Opendoor and Zillow are losing tens of thousands on each iBuyer home: DelPrete
Opinion
Disruption in real estate is being led by companies — and shareholders — willing to bet and lose billions of dollars
by Mike DelPrete Nov 3
Not if but when: Why you should be preparing for commission compression now
Opinion
Consumer behavior, demand and expectations are going to reduce commissions — get ready
by Jay Thompson Oct 29
Zillow slashes 80 Zillow Offers jobs in 'realignment'
The changes are mostly in field offices across the country, with a few operations staffers being let go, a Zillow spokesperson confirmed to Inman
by Patrick Kearns Oct 28
Knock's expansion plans on track with new Florida markets
Three Keller Williams offices in central Florida will become Knock-certified as alternative lending company continues push toward 11 markets before year's end
by Craig C. Rowe Oct 20
The quiet iBuyer war on real estate commissions: DelPrete
Does the success of the iBuyer model come at the expense of the traditional real estate structure?
by Mike DelPrete Oct 19
John L. Scott Real Estate launches zavvie-powered iBuyer in Portland
John L. Scott Real Estate, a brokerage with over 110 offices and 3,000 brokers across 4 states, has teamed with end-to-end iBuyer platform zavvie to create Instant Purchase Plus+
by Lillian Dickerson Oct 16
Choice is good! Why new methods of selling homes are a win-win
Opinion
Although no app is going to replace agents, the concern of disruption in the industry is real. And nothing seems to stoke those fears more than non-traditional ways of buying and selling a home
by Jay Thompson Oct 15
EasyKnock and Knock file dueling lawsuits against each other
On Monday, Knock and EasyKnock filed lawsuits against each other alleging trademark infringement and unfair competition, among other allegations
by Andrea V. Brambila Oct 14
Offerpad is teaming up with a relocation services company
The partnership with Aires, a global relocation services firm, will unlock Offerpad's myriad real estate solutions for its new partner's relocation clients
by Patrick Kearns Oct 13
RedfinNow expands in California
RedfinNow, Redfin's iBuyer platform, is now live in Sacramento, joining Inland Empire, Los Angeles, Orange County, Palm Springs and San Diego, the company announced Friday
by Patrick Kearns Oct 9
DelPrete: Zillow hiring agents is the megatrend you can't afford to ignore
Opinion
Most of the largest real estate disruptors are moving toward hiring agents for new brokerage services — that's nearly $35B in enterprise value pushing in this direction
by Mike DelPrete Oct 8
JP & Associates and zavvie partner to launch seller option platform
Through Sure Sale, consumers can choose to list with an agent, sell to an iBuyer or opt for the company's home trade-in platform
by Patrick Kearns Oct 1
Toronto's Properly to expand alternative brokerage model with $100M infusion
Seeking to provide Canadians with a new option for buying and selling, Properly has been funded by U.S. proptech players Silicon Valley Bank and I80 Group
by Craig C. Rowe Sep 30
Zillow's former CEO is looking for a startup to take public
Spencer Rascoff is co-chairing a new special-purpose acquisition company and seeking a 'business that addresses a large market'
by Patrick Kearns Sep 28
Agents, you’re missing the point with the Zillow news
Opinion
Wherever you get your business from, focusing on your clients will be far more fruitful than worrying about what Zillow or anyone else is doing
by Jay Thompson Sep 25
Zillow continues 'natural evolution' with brokerage shift: Deutsche
Zillow's decision to hire its own agents for Zillow Offers is the latest in its shift to becoming a platform, according to a trio of Deutsche Bank analysts
by Patrick Kearns Sep 24
'This comes as no shock': Realtors weigh in on Zillow hiring agents
Although the initial reaction to Zillow’s decision to bring representation for its own Zillow Offers transactions in-house was mixed, few real estate agents were surprised by the move
by Patrick Kearns Sep 23
Zillow to hire agents as employees for iBuyer transactions
Starting in January 2021, Zillow Offers transactions will be managed by a salaried Zillow employee who is licensed to act as a real estate salesperson through Zillow Homes
by Patrick Kearns Sep 23
Why Opendoor going public is a rising tide that could lift Zillow
For the second consecutive month, Deutsche Bank's research team raised its target stock price for Zillow. This time, it was fueled by its biggest iBuyer competitor going public
by Patrick Kearns Sep 18
Lennar predicts strong home sales 'for the foreseeable future'
The homebuilder also said its move-up program with Opendoor 'is becoming an industry standard'
by Andrea V. Brambila Sep 16
IBuyer purchases dropped 88% in Q2 as pandemic raged
RedfinNow, Offerpad, Opendoor and Zillow only bought 880 homes in the second quarter of 2020, according to a new study by Redfin released Thursday
by Patrick Kearns Sep 11
Zillow Offers opens in first new market since COVID pause
The direct-to-consumer homebuying and selling platform is live in Jacksonville, Florida
by Patrick Kearns Sep 9
Opendoor makes changes to C-suite
Board member and TPG Capital veteran Carrie Wheeler is joining the company as chief financial officer while Gautam Gupta is set to leave the company
by Patrick Kearns Sep 3
Opendoor is seeking real estate agents for 'Opendoor Brokerage'
A spokesperson for Opendoor clarified that the role will support the 'Home Reserve' platform that the iBuyer announced in May
by Patrick Kearns Aug 28
DelPrete: iBuyer market share plummets, slow recovery ahead
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
by Mike DelPrete Aug 18
Opendoor resumes iBuying in all pre-pandemic markets
The move hints at how strongly real estate has bounced back during the pandemic, which is still ongoing and has prompted Opendoor to include virtual assessments for homes
by Jim Dalrymple II Aug 18
COVID-19 may have silver lining for agents, iBuyers: Spencer Rascoff
The former Zillow CEO argued during Inman Connect Now that crises such as the current coronavirus pandemic "have a terrific silver lining for innovators and entrepreneurs"
by Jim Dalrymple II Aug 4
Opendoor CEO: Despite COVID-19, iBuyers are 'full steam ahead'
'When consumers demand experiences, that’s when innovation happens,' Opendoor CEO Eric Wu said Tuesday during Inman Connect Now
by Patrick Kearns Aug 4
Zillow has resumed buying in every pre-pandemic Zillow Offers market
Since pausing its homebuying platform in March, Zillow Offers is now operating again in all 24 markets, including Las Vegas, South Florida, Tampa Bay and Houston beginning Tuesday
by Patrick Kearns Aug 4
Zillow partners with nation's largest homebuilder
The partnership allows consumers working with D.R. Horton the freedom of a flexible closing date and cash credits at close for eligible deals
by Patrick Kearns Jul 30
Zillow will allow self-tours on all company-owned homes
The company is also adding a digital floor plan to all Zillow-owned listings
by Patrick Kearns Jul 28
Most agents aren't including Zestimates, iBuyer info in CMAs
While most agents said they had never done a virtual listing presentation, 51% said they were very or extremely likely to in the next 6 months, according to a new W+R Studios survey
by Andrea V. Brambila Jul 28
Zavvie and Easyknock team up to bring 'bridge' option to more consumers
The partnership means agents using zavvie's technology can offer their clients the option of selling their home but continuing to live in it while looking for somewhere new
by Jim Dalrymple II Jul 27
'The real estate industry will move forward': Former surgeon general
Dr. Regina Benjamin, the former surgeon general of the United States under President Barack Obama, discusses her role advising Zillow and the link between health and home
by Patrick Kearns Jul 27
Realtor.com partners with Opendoor, others for 'seller's marketplace'
The new platform from realtor.com provides sellers with options from from Opendoor, EasyKnock, HomeGo and WeBuyHouses.com, as well as listing on the open market
by Patrick Kearns Jul 23
Why Redfin has a cap on its iBuyer business
Redfin CEO Glenn Kelman discusses the short- and long-term outlooks for RedfinNow in a chat with Austin Smith, the director of Millionacres
by Patrick Kearns Jul 21
Knock pivots to mortgage financing, bridge loans, concierge service
The home trade-in company, once lumped in with iBuyers, is charting a new course and partnering with agents to do it
by Patrick Kearns Jul 16
Realogy's iBuyer platform RealSure returns to market with new offerings
The platform has extended the length of its guaranteed sale and allows homeowners to stay in their homes for longer if they sell through RealSure
by Patrick Kearns Jul 15
Zavvie launches updated version of Offer Optimizer
The newest options for sellers — instant offers from iBuyers and a buy-before-you-sell bridge option — are nearly completely digital, and well-suited for a socially distant real estate industry, according to zavvie's co-founder
Zillow resumes buying homes in 5 more US markets
After the company's initial homebuying pause, Zillow is now buying homes in 20 of 24 Zillow Offers markets
by Patrick Kearns Jul 7
Real estate marketplace Sundae earns $16.55M in Series A funding
The company, which focuses exclusively on dated and distressed properties, plans to use the funds to expand to new markets beyond Southern California
by Lillian Dickerson Jun 30
Redfin returns to homebuying in 4 more markets
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
by Patrick Kearns Jun 26
This analyst thinks Zillow will capitalize on real estate 'shockwave'
Loup Ventures Managing Partner Gene Munster believes that as people continue to move from urban areas to suburbs, Zillow will benefit from top-of-the-funnel engagement
by Patrick Kearns Jun 26
Keller Williams ends exclusive deal with Offerpad
Keller Williams will allow other investors to make all-cash offers on homes through Keller Offers, its iBuying division
by Patrick Kearns Jun 24
The line between iBuyer and brokerage is blurring
Opinion
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
by Mike DelPrete Jun 11
Zillow is buying homes again in 6 more cities
The iBuyer platform is buying homes again in Atlanta, Dallas, San Antonio, Austin, San Diego and Sacramento
by Patrick Kearns Jun 9
Zavvie expands reach to 52,000 more agents with new partnership
The iBuyer for brokerages announced on Monday its selection as a Preferred Alliance Program member of Berkshire Hathaway HomeServices and Real Living Real Estate
Homesnap's Mazur: It's time for agents to go all in
In multiple talk tracks at Tech Connect, leaders in sales, fintech and proptech all agreed on one thing: The COVID-19 pandemic has totally changed how people market, sell and buy real estate
by Craig C. Rowe Jun 4
Mike DelPrete: Don't call it a comeback (just yet)
Real estate tech strategist Mike DelPrete explains pre- and post-shelter-in-place market trends and how real estate agents can prepare for the future
by Marian McPherson Jun 4
Glenn Kelman: Waves of migration, consolidation coming to real estate
The Redfin CEO said Wednesday the coronavirus pandemic is helping fuel changes in real estate imagery and consumer behavior
by Jim Dalrymple II Jun 3
Trulia co-founder Pete Flint tells agents to 'lean into' transaction revolution
During Connect Now, Trulia co-founder and NFX Managing Partner Pete Flint explained what agents must do to stay relevant during the digital transaction revolution
by Marian McPherson Jun 3
Opendoor returns to homebuying in 5 more cities
The iBuyer is offering homeowners contact-free selling in Dallas-Fort Worth, Atlanta, Charlotte, Nashville and Tucson
by Patrick Kearns Jun 3
First Offerpad wanted to buy your home. Now it wants to list your home
Consumers can now choose a direct, quick-close sale or a more traditional listing process. The move may rankle many in the real estate industry, who have long worried about technology companies moving into the space traditionally served by real estate agents
by Patrick Kearns Jun 1
Zillow returns to homebuying in 5 more markets
The company resumed buying homes through Zillow Offers last week following a nearly 2-month pause due to COVID-19
by Patrick Kearns May 27
Former surgeon general tapped to help Zillow safely buy homes again
The company is bringing on Regina Benjamin, the former US surgeon general, to consult on and develop new safety protocols as it returns to iBuying
by Patrick Kearns May 18